The start of a new year symbolizes a fresh start for your investor relations strategy, and what better way to turn a new page than with new software?
IR tech manages your investor relations and drives strategic shareholder engagement. But this platform is only as good as the software that powers it. Older software can leave you on the wrong foot in the ever-changing investment landscape, unable to make the right choices quickly enough to keep up with rapidly changing markets.
If it’s been a while since you last updated your technology, it’s time to compare the best investor relations software for a replacement. Here are four reasons why you should update your software in 2022.
1. You are trapped by silos
Information or technology silos are detrimental to your Investor Relations (IR) team, as well as your business as a whole. These silos isolate information, making it nearly impossible to share critical data among employees.
Without clear communication, your business will struggle with disorganized and inefficient processes, conflicting or duplicated data, and hostile work cultures.
When it comes to modern IR software, you can find cloud-based technology that breaks down those silos to unify the workflow. As long as someone has the approved login credentials, everyone can access the same data, from junior associates to C-Suite executives.
2. You have a small budget
Think you have to spend a fortune to get good technology? IR software doesn’t have to cost big business budgets. In fact, its initial investment can end up saving you money by eliminating silos and reducing downtime.
Top IR companies understand that IROs are being asked to do more with less every year, and 2022 is no different. That’s why they customize your technology to reflect your unique business goals and challenges. By tailoring their service to your needs, you can access the latest infrared intelligence without breaking your budget.
3. You want to target investors
Fighting for capital is not always easy. Getting your piece of the pie is all about identifying, attracting and retaining the right investors. And for that, you need up-to-the-minute data that matters.
It will be easier for you to access and understand this data when you have the right software. This technology streamlines your daily schedule to increase engagement by refining your approach to targeting and profiling. You will receive actionable insights into your shareholder base, enabling you to make informed strategic decisions.
You can also combine a sophisticated CRM with real-time monitoring to keep up to date with shareholder movements throughout the year. Targeted monitoring can help you stay ahead of the competition, gauge investor behavior, attract the right investor, and respond more quickly to activism.
4. Your software bugs
Perhaps the biggest sign you need to update your IR software is that your current rig isn’t working like it used to. Any bugs or issues go against your investor relations strategy. Older software is also more likely to run slower, which can lead to downtime costs.
At the end of the line
In 2021, ditch old and glitchy technologies. In 2022, embrace new technologies that will help you sit at the boardroom table.
Rob Teitelman’s Story