--- title: Here’s Why A Proof Of Concept Can Increase The Chances Of Your Project’s Success description: While traditional RFPs can help narrow down options, it is only Proof Of Concept trials that can help firms find the right solutions. image: https://resource.nexj.com/hubfs/proof-of-concept.png --- [![nexj-white-blue](https://resource.nexj.com/hs-fs/hubfs/nexj-white-blue.png?width=140&name=nexj-white-blue.png "nexj-white-blue")](https://www.nexj.com) [Back to Corporate Website](https://www.nexj.com/) [TOPIC // CRM](https://resource.nexj.com/blog/tag/crm) # Here’s Why A Proof Of Concept Can Increase The Chances Of Your Project’s Success - - - **In a post-pandemic world that frowns upon unnecessary risk-taking, the question all firms should be asking is: Can an RFP ever be enough?** Most financial services firms begin the selection process of enterprise software selection in a traditional manner that involves a Request For Proposal (RFP). There are calls put out, requirements and business goals listed, and a wait for responses that can take weeks. After this comes demos from shortlisted vendors, the reading of infosheets and brochures, and a host of meetings. The goal is always difficult, because it means the management of conflicting requirements, competing stakeholder expectations as well as the balancing of budget considerations. ## How Do You Choose Your CRM? There are all kinds of reasons why RFPs are essential, starting with the fact that they are often required as part of corporate policy. There isn’t anything intrinsically wrong with relying on them either, provided firms acknowledge that they can also be time-consuming. They can prolong the process of selection by introducing bureaucratic hurdles. Worse, they may produce undesirable outcomes by not being engineered for new delivery models. This is why NexJ believes the most critical step in any evaluation is a well-run Proof of Concept. We say this based on our experience with successful financial services firms and satisfied users in over 60 countries. ## Navigating A Crowded Marketplace Firms select solutions that best support their CRM strategy while navigating a market that evolves constantly. The possibilities can seem endless, especially when firms have specific requirements based upon the industry they are in. This is why NexJ’s product capabilities and features are always targeted towards specific users, job requirements, and departments within an organization. The rise of deep vertical CRM vendors has also coincided with a need for solutions suited to specific ecosystems. In such a scenario, while traditional RFPs can help narrow down options, it is only Proof Of Concept trials that can help firms find the right solutions. ## The Advantages of a POC A POC answers four important questions. It allows firms to test vendor claims, validate assumptions and conclusions, and go beyond demos, brochures, and meetings with team members. These questions simply cannot be addressed by an RFP: - What can this product do? - What will our users think? - How can we evaluate this vendor’s capabilities more effectively? - How well can the product integrate with our infrastructure? When an application or solution being evaluated isn’t created for specific software ecosystems, it is a POC that can help firms identify potential problems and narrow down options that display reasonable levels of efficiency. ## Understanding The NexJ Approach Not so long ago, one of our clients realized its systems were struggling to handle complex relationships well. They couldn’t handle workflows required to meet compliance regulations and were not flexible enough to meet changing customer demographics and regulations. What they needed was a financial services-specific CRM with robust integration capabilities to connect their systems, handle compliance workflows, and obtain a complete view of each customer. We delivered a 4-week long POC to validate our technology and functional capabilities as part of an integrated solution. The aim was to show how our platform would be a suitable replacement for the existing Customer Data Management and CRM solutions, both of which were internal builds. Our POC featured distinct workstreams that covered our business modeling capabilities and flexibility, business processes, integration capabilities, and a migration prototype that converted data from the legacy client data master and relationship management platforms to the target model implemented in NexJ. To find out more about our approach to a Proof of Concept, and why we believe this helps our customers understand our products better, get in touch with us today. **Tags:** [CRM](https://resource.nexj.com/blog/tag/crm) Share: - - - PREVIOUS POST [Unusual Times Call For Solutions That Can Help Build Customer Trust](https://resource.nexj.com/blog/2020/05/20/unusual-times-call-for-solutions-that-can-help-build-customer-trust) [![](https://cdn2.hubspot.net/hubfs/5152923/Creative_Theme/image/chevron.png)](https://resource.nexj.com/blog) Next Post [Technical Communicators at NexJ Systems Foster A Symphony of Collaboration](https://resource.nexj.com/blog/technical-communicators-at-nexj-systems-foster-a-symphony-of-collaboration) Content Title Description ### Don't Miss Out Subscribe Today! ### Search Our Blog ### Categories - [Advisors (15)](https://resource.nexj.com/blog/tag/advisors) - [Artificial Intelligence (40)](https://resource.nexj.com/blog/tag/artificial-intelligence) - [Capital Markets (54)](https://resource.nexj.com/blog/tag/capital-markets) - [client engagement (3)](https://resource.nexj.com/blog/tag/client-engagement) - [client lifecycle management (1)](https://resource.nexj.com/blog/tag/client-lifecycle-management) - [client-focused reforms (1)](https://resource.nexj.com/blog/tag/client-focused-reforms) - [clm (1)](https://resource.nexj.com/blog/tag/clm) - [Commercial Banking (62)](https://resource.nexj.com/blog/tag/commercial-banking) - [Company News (3)](https://resource.nexj.com/blog/tag/company-news) - [Corporate Banking (65)](https://resource.nexj.com/blog/tag/corporate-banking) - [CRM (33)](https://resource.nexj.com/blog/tag/crm) - [Financial Services (1)](https://resource.nexj.com/blog/tag/financial-services) - [Gartner (1)](https://resource.nexj.com/blog/tag/gartner) - [IAD (11)](https://resource.nexj.com/blog/tag/iad) - [IBM (2)](https://resource.nexj.com/blog/tag/ibm) - [Increase Customer Loyalty (4)](https://resource.nexj.com/blog/tag/increase-customer-loyalty) - [Insurance (24)](https://resource.nexj.com/blog/tag/insurance) - [integrated advisor desktop (1)](https://resource.nexj.com/blog/tag/integrated-advisor-desktop) - [integration (3)](https://resource.nexj.com/blog/tag/integration) - [Optimize Processes (35)](https://resource.nexj.com/blog/tag/optimize-processes) - [Private Banking (60)](https://resource.nexj.com/blog/tag/private-banking) - [Retain Top Talent (1)](https://resource.nexj.com/blog/tag/retain-top-talent) - [robo-advisors (1)](https://resource.nexj.com/blog/tag/robo-advisors) - [Salesforce (1)](https://resource.nexj.com/blog/tag/salesforce) - [User Adoption (14)](https://resource.nexj.com/blog/tag/user-adoption) - [vertical cloud (2)](https://resource.nexj.com/blog/tag/vertical-cloud) - [Wealth Management (118)](https://resource.nexj.com/blog/tag/wealth-management) See all ### Popular Posts [The Dashboard for Everything a Financial Advisor Does: A Closer Look at NexJ’s Advisor Dashboard](https://resource.nexj.com/blog/the-dashboard-for-everything-a-financial-advisor-does-a-closer-look-at-nexjs-advisor-dashboard) [NexJ Systems Inc.](https://resource.nexj.com/blog/author/superadminsystems9) - Mar 25, 2022 [How Important Is A Concierge Service In Private Banking? An interview with Andrew Cant, VP, Financial Services Solutions](https://resource.nexj.com/blog/2020/01/27/how-important-is-a-concierge-service-in-private-banking-an-interview-with-andrew-cant-vp-financial-services-solutions) [NexJ Systems Inc.](https://resource.nexj.com/blog/author/superadminsystems9) - Jan 27, 2020 [Servicing the Client Across Their Journey](https://resource.nexj.com/blog/2017/03/14/servicing-the-customer-across-their-journey) [Adam Edmonds](https://resource.nexj.com/blog/author/adam-edmonds) - Mar 14, 2017 ## Related Posts - - - ## [5 Things Not Working with Today’s Wealth Management CRM](https://resource.nexj.com/blog/5-things-not-working-with-todays-wealth-management-crm) There are a lot of customer relationship management (CRM) solutions out there, including many by large and well-known companies, but that doesn’t mean it’s easy to find a solution that works for wealth management firms and the advisors working with them. In our experience, the opposite is true – when we talk with potential clients who are interested in the NexJ Integrated Advisor Desktop (IAD), what we hear is a lot about what doesn’t work for them. [Read Post](https://resource.nexj.com/blog/5-things-not-working-with-todays-wealth-management-crm) - - - ## [What the Latest Research Report on Salesforce Tells Us About Financial CRM](https://resource.nexj.com/blog/what-the-latest-research-report-on-salesforce-tells-us-about-financial-crm) Bigger isn’t always better – that’s the key takeaway from the latest research report from Nucleus Research on Salesforce’s CRM offering. In fact, as Salesforce has grown larger by acquiring and absorbing smaller competitors and specific products, the organization has seen declining scores in many areas – enough to push Salesforce out of its spot in the Leader quadrant of the Nucleus CRM Value Matrix. Shockingly, 51% of those surveyed said they would replace Salesforce if they could. [Read Post](https://resource.nexj.com/blog/what-the-latest-research-report-on-salesforce-tells-us-about-financial-crm) - - - ## [Smart Wealth Managers Service Households, Not Individuals. Here’s How We Help](https://resource.nexj.com/blog/smart-wealth-managers-service-households-not-individuals.-heres-how-we-help) Wealth management is about trust. It is about giving an advisor control of your financial health and security and depending upon that advisor to make or recommend decisions that help you meet your financial goals. When we, as vendors, focus on features that give our products an edge, we always focus on how specific features can help advisors build more trust. This is what makes relationship hierarchies so important. In terms of technology, there are minor differences between relationship hierarchies for corporate and investment banking and wealth management. The big differentiator is the intent. Corporate and investment banks track multiple hierarchies for the same corporations, such as risk relationships versus legal relationships. This allows bankers to get a holistic view of what makes the most business sense for a client. Wealth management needs a single hierarchy because they focus on single households and extended households. So, how exactly do you make a hierarchy that specifically speaks to the needs of an advisor? [Read Post](https://resource.nexj.com/blog/smart-wealth-managers-service-households-not-individuals.-heres-how-we-help) Stay Informed ## subscribe **today** ![16](https://cdn2.hubspot.net/hub/5152923/hubfs/HP_Theme/images/16.jpg?width=3953&name=16.jpg "16") ![nexj-white](https://resource.nexj.com/hs-fs/hubfs/nexj-white.png?width=90&name=nexj-white.png "nexj-white") NexJ Systems, the pioneer of Intelligent Customer Management, is the trusted partner for CRM products by global financial services institutions due to their deep domain expertise, next-generation technology, strategic investment in innovation, and strong commitment to customer success. ## Industry Solutions - [CRM for Wealth Management](https://www.nexj.com/industry-solutions/wealth-management/) - [CRM for Private Banking](https://www.nexj.com/industry-solutions/private-banking/) - [CRM for Sales, Trading & Research](https://www.nexj.com/industry-solutions/sales-trading-and-research/) - [CRM for Commercial Banking](https://www.nexj.com/industry-solutions/commercial-banking/) - [CRM for Corporate Banking](https://www.nexj.com/industry-solutions/corporate-banking/) - [CRM for Insurance](https://www.nexj.com/industry-solutions/insurance/) ## Our Company - [About Us](https://www.nexj.com/company/about-nexj-systems/) - [Investor Relations](https://www.nexj.com/company/investor-relations/) - [Analyst Coverage](https://www.nexj.com/company/analyst-coverage/) - [Leadership](https://www.nexj.com/company/management-team-board-members/) - [Partners](https://www.nexj.com/company/partner-program/) - [Press Room](https://www.nexj.com/company/press-room/) ## Resource Center - [White Papers](https://www.nexj.com/resources/white-paper/) - [Analyst Reports](https://www.nexj.com/resources/industry-analyst-reports/) - [Brochures](https://www.nexj.com/resources/brochure/) - [Case Studies](https://www.nexj.com/resources/case-studies/) - [Videos](https://www.nexj.com/resources/video/) - [Webinars](https://www.nexj.com/resources/webinar/) ## Contact us [Info@nexj.com](mailto:Info@nexj.com) NexJ Systems Inc. 10 York Mills Road, Suite 700 Toronto, Ontario M2P 2G4 Canada P: +1 (416) 222-5611 F: +1 (416) 222-8623 - [Facebook](http://www.facebook.com) - [Twitter](http://www.twitter.com) - [Linkedin](http://www.linkedin.com) - [YouTube](https://www.youtube.com/user/nexjsystems/) #### Related CRM Topics for the Finance & Insurance Industry - [BPM Software](https://www.nexj.com/industry-solutions/topics/business-process-management-bpm-software/) - [Client Lifecycle Management](https://www.nexj.com/industry-solutions/topics/client-lifecycle-management/) - [Contact Centre CRM](https://www.nexj.com/industry-solutions/topics/contact-centre-crm-software/) - [Digital Engagement](https://www.nexj.com/industry-solutions/topics/digital-engagement/) - [Financial Advisor CRM](https://www.nexj.com/industry-solutions/topics/crm-for-financial-advisors/) - [Financial Services CRM](https://www.nexj.com/industry-solutions/topics/crm-for-financial-services/) - [Intelligent Customer Management](https://www.nexj.com/industry-solutions/intelligent-customer-management/) - [MiFID II Compliance](https://www.nexj.com/industry-solutions/topics/mifid-ii-compliance-for-wealth-management-and-private-banking/) - [Suitability & Appropriateness](https://www.nexj.com/industry-solutions/topics/suitability-and-appropriateness/) - [User Adoption for CRM](https://www.nexj.com/industry-solutions/topics/user-adoption-for-financial-services-crm/) Copyright © 2026 NexJ Systems Inc. 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