Technology is the current strategy of enhancing the relevancy and competitive nature of an organization. A large number of companies operating in the financial industry have already incorporated technology in their operations. One of the hedge fund companies that has incorporated technology is the Fortress Investment Group under the guidance of Randal Nardone. The company has incorporated technology is most of its department to help in a large number of activities while at the same time making the company efficient.
Randal Nardone ensured that Fortress Group incorporated technology in the marketing department with the aim of reaching a large number of customers within the shortest time. Most of the people are not aware of the financial services provided by alternative asset managers. The company wanted to use technology so that it can inform its potential customers about the services of the company. This was done through social media platform and other methods such as sending customized newsletters to a particular class of clients.
Fortress Investment Group also wanted to incorporate technology so that it can modernize the customer care department. A large number of customers had been visiting the company for advice of various financial services. However, the company was not able to serve the number of increasing customers. The only alternative was incorporating technology, which will help in serving large number of customers in a short period. Using computers to serve customers makes it easy and efficient as the company can serve the large number of customers seeking services.
Randal Nardone also incorporated technology with the aim of helping the company to make critical decisions regarding risks and uncertainties. Relying in human beings to forecast on the likelihood of losses and uncertainties in the market was not reliable. The company required modern method that would help in forecasting the losses likely to face the organization and thus avoid losses.
Since Randal Nardone implemented technology at the operations of the organization, the company has experienced significant benefits in various sections. Marketing, customer care, and forecasting in the company has improved. Additionally, the company can cut on its costs while at the same time performing a large number of tasks within a short period.
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