A conversation with Maria Latorre, Global Head Channel Management and Vanessa Higuera, International Channel Support Manager at IPC Systems for Revista Gerencia – first published July 2017.
Recognized for its technology on the financial sector, IPC Systems has important expectations in the Latin American region and specifically the Chilean markets. A key strategic partner for this is Wittel, through whom IPC hopes to bring new solutions with added value.
M. Latorre: We have about 33 offices worldwide, in some of those regions and whenever we do not have an office we work with chosen Channel Partners to market our solutions. Globally, Wittel is one of the most strategic partners: it accounts for 56% of total turnover in Latin America and Central America, and 13% of total turnover worldwide.
M. Latorre: Wittel knows perfectly the market and the evolution of customer needs, both in Chile and Brazil. This is very important because it shows that they understand the issues and they position themselves as a trusted advisor. They also have a specialized team dedicated to the IPC solutions, which enables the customer to have the best customer experience at the service level. These are the main characteristics we look into when defining a strategic partner.
M. Latorre: We have great challenges. Today – IPC is the global leader of the Trading Communications market. We want to get out of our “comfort zone”, and launch new solutions in indirect markets. We encourage partners like Wittel to become experts and bring the latest technology to the market because that is what our customers are waiting for.
With Wittel we have a large footprint in the region with approx.. 2700 positions. We want to take advantage of its experience, knowledge of the service and its strengths locally, to deliver more added value.
M. Latorre: Our goal is to address the market needs related to compliance. There are a number of regulations that have been implemented in the United States and Europe, which will sooner or later have an impact in the Latin American market, where banks are obliged to keep records of their communications, voicemail, chat, e-mail, mobile, Skype, etc. All this data has to be stored for at least five years and have the necessary mechanisms to be able to analyze it easily. Through Assurance Services, trading floors are monitored at any moment to avoid any irregularities. All that interaction or process is what we call compliance, which is an area that Wittel can cover with our solutions. We also have count a Financial Markets Network, a network dedicated to trading that allows our customers to connect with their counterparts and resources to enable high or low touch trading. Today, IPC has 200 thousand users in the community and more than 70 liquidity resources such as trading platforms, world markets, rsvs, ECNs, etc.
V. Higuera: Wittel is one of our oldest partners (since 1994), they are well recognized in the region, and have an important customer base for IPC. Our philosophy is to have Channel Partners because local service is key; we will continue working together with Wittel to achieve greater penetration and continue to be No. 1.
M. Latorre: Wittel is No. 1 in Brazil, we want to replicate this experience in Chile. The adoption of trading floor solutions has a great penetration, especially in banking, but given the economic context the renewals of the platforms has been delayed, so there is a great opportunity both in renewals as in adding value to the customer, through solutions mentioned earlier and how they can be incorporated into the collaborative work environment that have, for example, traders. In addition, Wittel is one of the few IPC partners who operate in more than one country, allowing us to attend our strategic accounts that operate internationally.