Singletrack was founded in London’s financial centre in 2009 by Stuart Berwick, a former JP Morgan CTO, who saw the potential in applying on-demand technology and advanced analytics to sell-side customer engagement and research distribution. His outlook was shared by co-founder Paul Dyson, who had previously founded an online systems consultancy working with major banks and other blue chip organisations.
The competitive marketplace
The new business saw how the increasingly competitive post-2008 marketplace was impacting institutional brokers, investment banks & IRPs. While the sell-side firms were under growing pressure to improve the productivity of their client-facing processes, the established CRM vendors were still offering inflexible solutions with limited functionality that were infrequently updated.
Singletrack's key differentiator
Within three years of launching a CRM platform designed specifically for the new sell-side business climate, Singletrack was working with some of the leading firms in Europe, Asia and the US. Singletrack’s key differentiator, which is at the heart of the business today, was the founders’ vision – the scope for data analytics to leverage users’ CRM data to help make client-facing business much more effective and profitable.
The outstanding value of this data-leveraging approach is highlighted in the example of a Singletrack client working on a new share offer; despite being in a three-bank syndicate the firm won the lion’s share of the business through its ability, using Singletrack, to access and analyse clients’ transaction histories in order to rapidly identify ‘best fit’ candidates for the new issue. This highly profitable transaction is indicative of the ROI potential enjoyed by all Singletrack clients.
Founders’ vision: The scope for data analytics to leverage users’ CRM data to help make client-facing business much more effective and profitable.
Meeting new regulatory requirements
Having access to more business intelligence, at a more granular level, not only enables sell-side firms to manage their operations more productively and profitably, but also enables them to meet the new regulatory requirements faced by their buy-side clients, who must now accurately measure, value and report every aspect of corporate access and research consumption. The new regulations bring a fundamental challenge to the sell-side, and provide further impetus for Singletrack’s data-leveraged approach to CRM.
Harnessing the value in data
The founders' belief in the further potential of data analytics is also reflected in the backgrounds of the company’s non-executive directors, Rob Dobson and Michael Berman, who both achieved significant success in companies that exploited advanced analytics to harness the value in data..