Accenture and Trilogy Team to Deliver Critical eBusiness Applications and Services to Financial Service Organizations
Global Alliance Will Revolutionize Distribution Channel Management for Broker, Agent and Internet Channels
NEW YORK and AUSTIN, Texas; December 5, 2000 — Accenture and Trilogy today announced a global, multi- year alliance that will enable financial services organizations to better manage their distribution channels. The alliance combines Accenture’s strategic, business process, and information technology expertise with Trilogy’s leading-edge Distribution Channel Management (DCM) solution, which drives variable compensation, licensing, and contracting strategies for brokers and agents.
“Currently, the insurance industry is struggling with product-distribution management profitability,” said Charles Johnston, vice president and director of META Group’s Insurance Information Strategies services. “Premium product-focused insurers are finding that DCM must be handled separately from Customer Relationship Management (CRM) and that it requires business and technology solutions that focus directly on the relationship between insurer and distributor.”
Globally, there are more than one million producers, brokers, and financial advisors selling trillions of dollars of financial products annually. In order to build and maintain profitable, long-term relationships with their customers, financial services organizations must also develop productive, long-term relationships with their distributors.
According to META Group, companies within the premium segments of the insurance industry will soon spend as much on DCM as they spend on CRM, (currently about .6% of insurers’ gross revenues).
“Today’s financial services organizations sell complex insurance and investment products through a broad range of traditional and non-traditional channels, including brokers, agents, financial planners, banks and Web-based providers,” said Dave Hoffman, Managing Partner, Accenture’s Insurance Industry Practice. “Working with Trilogy, we can help companies implement sales compensation strategies that motivate and retain sales forces, streamline administration and increase revenue growth.”
“Trilogy is proud to announce a global partnership that unites two of the strongest leaders in financial services distribution management,” said Ajay Agarwal, executive vice president of sales and marketing at Trilogy. “We are building upon our existing track record of joint success to create and deliver the most comprehensive, fully-integrated distribution management solution in the marketplace — from expert assessment to powerful software and rapid deployment.”
Under the agreement, Accenture and Trilogy will market and deliver a Java-based distribution channel management solution to financial services institutions around the world. The Trilogy DCM suite includes an industry-leading compensation engine, as well as applications to help leading financial services companies launch and integrate new products and distribution channels, manage sales recognition programs, ensure sales compliance and communicate performance results to producers around the world via the Internet.
A global team of Accenture professionals will be trained in the deployment of Trilogy’s DCM. The Trilogy DCM solution will be on exhibition at Accenture’s Financial Ideas Exchange in New York City.
Detailed information about the Trilogy Distribution Channel Management solution is available online at
http://www.trilogy.com/.
ABOUT TRILOGY
Trilogy is a leading provider of software driving the e-commerce transformation of Global 2000 companies. Trilogy’s robust e-commerce platforms, rapid deployment cycles and business expertise enables major enterprises in diverse industries to build market share and secure industry leadership. With Trilogy products and services, companies can move all selling channels to the Internet, creating seamless business transactions.
# # #
Trilogy is a trademark of Trilogy. All other trademarks and tradenames are the property of their respective owners.
###
###
David Coleman
860-521-1373
Laura Evenson
+1 (415) 592 4037
Barry Rupert
+1 (512) 732 5782