Brokerages Leave Stodgy Past for Electronic Future Knowledge Management World , September 1999 Brokerages Leave Stodgy Past for Electronic Future Technologies like the Internet are helping brokerages manage information and communicate with clients better than ever. For example, Scudder Kemper has built a robust Web site to help transform itself from a traditional mutual fund firm to an online one. To address the growing need to manage electronic communication within the boundaries set by regulators, Wheat First Union began to search for a technology solution that would allow the large brokerage firm to move forward at a reasonable cost. Managers were forced to read those messages and manually record and store the documents.
Managers now read only a fraction of what was required before the rollout.
The labor savings alone justify the cost of the software. Time spent on monitoring and archiving e-mail can now be devoted to more productive activities.