Sales Intelligence vendor RelPro announced a partnership with well-regarded industry research vendor IBISWorld to deliver an integrated solution for commercial banks. The joint offering, delivered via the RelPro platform, assists with meeting preparation, due diligence, and industry research. Ten commercial banks have already deployed the integrated solution, including three of the top five.
RelPro serves business development and relationship management professionals in Financial Services (banking, insurance, wealth management, private equity) and Professional Services (legal, and advisory). RelPro users are often industry generalists who serve SMBs across many industries. IBISWorld provides broad industry research across sectors along with economic and environmental changes.
RelPro is a traditional sales intelligence service with company and executive content sourced from seventeen partners. Data partners include ZoomInfo, Dun & Bradstreet, BoardEx, GuideStar, Crunchbase, and HG Insights. RelPro users build prospecting lists, perform account planning, identify additional contacts at key accounts, and, with the IBISWorld partnership, research industries based upon each company’s industry codes.
“RelPro has always been a client-driven solution, focused on the needs of business development and relationship management professionals in financial services and professional services, so when our clients asked us to integrate with a new intelligence source we listened!” said RelPro CEO Martin Wise, “The value of industry insights has been so evident as our users have pivoted and navigated through the shifting economic landscape, preparing for meetings with prospects and clients. We are thrilled to be partnering with IBISWorld and delivering our combined capabilities to mutual clients.”
RelPro said that the partnered solution is consistent with its mission “to deliver valuable insights and time-saving efficiencies to business development and relationship management professionals” across banking and professional services.
The partnership began a year ago when a top five commercial bank requested an integrated solution. The firms polished the integration over the past year, with the announcement synced to the April launch of My IBISWorld for Banking.
My IBISWorld for Banking includes tailored industry tools, data, and analysis to support banking professionals throughout the entire credit process. Expanded content includes enhanced financial ratios, localized statistics “to understand concentration and major market data,” role-based views, risk snapshots that highlight industry risks and trends, and targeted meeting prep questions.
“Recently, we’ve seen a shift towards banking professionals working more closely with other functions, creating cross-department synergies in this newly-remote world. We’ve also seen a great need for hyper-local data so banks can better serve small businesses during these unprecedented times. My IBISWorld for Banking fosters this cross-departmental work and helps banks support their customers.”
Carmen McKinney, Chief Operations Officer and Head of Customer Success at IBISWorld
“Being a part of our clients’ workflows has been a continuous goal for us at IBISWorld,” said Jason Falkowitz, SVP, IBISWorld Industry Research Division. “From the launch of our My IBISWorld for Banking platform and our robust API offering to our new partnership with RelPro, we are committed to offering world-class industry information in client-led formats. Combining IBISWorld’s industry intelligence with RelPro’s focus on targeting companies and decision-makers, mutual clients will be best positioned to win and retain commercial relationships.”
IBISWorld content is delivered within the RelPro solution, with single sign-on supported. The partners initially focused on their set of joint customers with contracts written on separate paper. There is no surcharge for the cross-product authorization and functionality.
Last year, RelPro released a similar solution with Vertical IQ. Both Vertical IQ and IBISWorld provide industry profiles and economic data, with Vertical IQs content written in plain English for cross-industry generalists, while IBISWorld offers a more formal format.
“RelPro now integrates with the two leading independent sources of industry research,” Wise told GZ Consulting. “It is for clients to decide which of these two solutions best meets their needs, and RelPro can deliver an integrated and time-saving user experience to either / both sources. This new partnership announcement is consistent with RelPro’s mission to deliver valuable insights and time-saving efficiencies to business development and relationship management professionals in banking and other financial and professional services sectors.” RelPro revenues (bookings) grew 40% in 2020, and the company expects that growth in 2021 will be at least that much