What Makes a Specialist Special?
Why choosing a specialist technology provider is important for your eFX business.
Differentiated for a Purpose
Very, very early on in your development, when you were just a small cluster of cells, those cells began differentiating, ready to assume different roles within your body. Within one month, they became heart and nerve cells. After that, they got even more specific, transforming into skin, blood, organs, muscle and more.
Every single one of those cells has a unique purpose; they specialise in niche roles and are extremely important to the overall function of each part of your body. Consider a neuron, one of two cell types found in the brain. Neurons form the building blocks of your brain, sending and receiving electrical and chemical signals. Pretty clever, right? However, the tasks they process are completely separate to those of the cells found in your skin, or heart. There are so many different cells within our bodies that it’d be near-impossible to have a comprehensive, in-depth understanding of all their many details and intricacies. This is why we have specialist doctors, who focus on one part of the body. Whilst generalists are great for resolving minor issues, if you’ve got a serious problem upon which your life could depend, you’ll want to seek specialist help.
How is this little anatomy lesson connected to eFX, you ask? eFX comprises a variety of components and processes that all have specific roles. Like the cells that work in unison to keep our bodies working, these components play a part in the survival of your business, moving pricing through the life cycle of a trade. At the nucleus of all this sits pricing and risk management, and for the same reason you’d want to see a neurologist for heart surgery, specialisation in this highly important field is essential.
Experience and expertise
A firm that specialises in risk management and pricing will not only be able to solve specific issues due to their level of expertise, they will also have vast experience using their core competency, meaning you’ll benefit from great technology backed by years of learning and expertise.
An in-depth understanding
When you specialise, you get to understand the issues in-depth - much like a neurologist comes to understand every corner and crevice of the brain. This gives you the basis to come up with new ideas that can help improve operational efficiency, as well as customer service. This is difficult to achieve if you keep hopping between a vast number of products and services, so working with one provider who knows their stuff is well worth investing in.
Remaining ahead of the curve
With a solid knowledge of your craft, gaining incremental expertise and innovation is also easier. Specialist firms have this proficiency, which means they are able to innovate in that field faster than their generalist counterpart. Having this advantage in eFX means that you’ll be able to stay one step ahead of your competitors, with cutting-edge technology and solutions that have been designed specifically for you.
