CRM Featured Article
May 29, 2008
CRM Stalwart Salesforce, NRP Announce Partnership
By David Sims
National Retirement Partners has partnered with Salesforce.com (News - Alert) to offer a new Customer Relationship Management system, designed as a central location for advisers.
Features of the new “NRP CRM” system include unlimited document storage, weekly commissions at a glance per client and profitability analytics on a per client basis, according to the company.
Using the Enterprise version of Salesforce.com, which allows for the integration of outside data fields, NRP says it has created what company officials call “a one-stop tool for virtually all client servicing needs – from plan benchmarking and client profitably analysis to the most basic client scheduling activities.”
The release of the NRP CRM application on the Salesforce.com platform follows more than a year of research and development, company officials say. The system has been used the past several months by a few NRP member firms across the country, company officials say.
“The major advantage is that the NRP CRM product is customized specifically to the needs of the pension-focused adviser,” said Troy Hammond, Pensionmark chief executive officer and president. “Being able to integrate the investments and commissions into the CRM system is huge for us.”
Earlier this month, Salesforce.com announced results for its fiscal first quarter ended April 30, 2008, with first quarter revenues “up 52 percent year-over-year, and well above guidance,” according to Chief Executive Officer Mark Benioff.
Total Q1 revenue was $247.6 million, an increase of 52 percent on a year-over-year basis and an increase of 14 percent on a quarter-over-quarter basis, according to the company. Subscription and support revenues were $225.3 million, an increase of 53 percent on a year-over-year basis and an increase of 15 percent on a quarter-over-quarter basis, according to the company.
Q1 GAAP diluted earnings per share were approximately $0.08, including approximately $18 million in stock based compensation and approximately $1.3 million in amortization of purchased intangibles related to previously announced acquisitions.
Net paying customers rose approximately 2,600 during the quarter to approximately 43,600. Compared with the year ago quarter, net paying customers have grown by approximately 11,300.
Cash from operations for the fiscal first quarter was approximately $84 million, up 128 percent year-over-year, up 4 percent from Q4, and a company record for the 3rd consecutive quarter. Total cash, cash equivalents and marketable securities finished the quarter at approximately $751 million, up about $303 million from the year prior.
David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.
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