If it wasn’t for our size, we’d be HUGE!
MORS is a Global Top 5 vendor in terms of Customer Satisfaction
It’s quite often the case that bigger software vendors are seen by banks somehow as more reliable, and more capable of delivering a major project with minimal risk. Time and time again we hear horror stories of large vendors letting down their customers, over promising and under delivering, not to mention charging a fortune.
What’s even more curious is that size seems also very important to industry analysts when creating their global vendor rankings. ‘Reach’ as they call it seems to be a metaphor for how little attention a customer might receive once the ink’s dry on the contracts.
It’s also brutely apparent that the bigger vendors have very deep pockets when it comes to dishing out discounts. If we were a bank, we’d be very sceptical if a vendor dropped their prices significantly, especially when it looked like they weren’t going to be selected. ‘Reach’ seems also to be a metaphor for low levels of commercial ethics.
We were delighted in 2022 to improve our global position in several industry vendor ranking reports. It’s always good to feel like we’re making progress. But of course, we know that we’re making progress, that’s the feedback we get from our growing number of customers. We think that’s more important.
This year our curiosity was peaked when we read 1 particular vendor ranking report. We have jumped to the highest position we’ve ever had, but we are still ‘way down’. We decided to analyse our performance in the various categories of the analysis. What we discovered made us feel very proud.
Out of the many hundreds of vendors assessed, MORS received one of the highest rankings in Customer Satisfaction, Core Technology, and Functionality. If customer satisfaction was the only determining factor, we’d be ranked overall as one of the best vendors in our industry, globally. In fact, the only factors that seemed to keep us much further down in the rankings were related to size and reach.
How can this be? It seems to be that we’re being judged on size and not on capability. This could really mislead a bank looking to find the right partner.
We are ranked as one of the top 5 in the world when it comes to Customer Satisfaction. The authors of the survey speak to each vendor’s customers. This is a ranking coming from the horse’s mouth. We know ourselves that our customers are satisfied because we monitor their satisfaction constantly. It’s reassuring, and for us, it’s arguably the most important metric for us to have the confidence that we are doing the right thing.
Another significant improvement for us is in Core Technology. We are in the top 15 globally. This year saw us ‘go live’ with our full SaaS offering, and it seems our partnership with Microsoft is appreciated by the analysts.
We also improved significantly in the category assessing Functionality. We are clearly in the top 20, globally. We have continued to develop our holistic and integrated approach to ALM, Risk, and Treasury Management solutions across all asset classes, with an emphasis on helping our customers fulfil their regulatory obligations.
Increasingly, regulation is driving banks to adopt integrated solutions. We will continue to actively develop MORS to continue to comply with regulatory requirements, not least towards CRDVI/CRR3. In 2023 we will launch our new Credit Risk and Capital Adequacy domain.
We also improved our position in Innovation and Strategy.
We’re over the moon with our improved ranking, but we are still tiny compared to some of our competitors. It is this fact that prevents from ranking higher. So, what could the benefit of choosing a bigger vendor? Many of their products are not as functionality rich as MORS, and their customers aren’t as satisfied as ours. It’s also unfortunate that many of those bigger vendors’ technology is behind the curve compared to MORS.
We are 100% focused on every one of our customers. You will have our fullest attention when selecting our award-winning solutions. We are easy to contact and happy to discuss our customer’s needs, at all levels of our organisation. Try getting the CEO of a major vendor on a call…
We can make decisions quickly and solve problems in a fraction of the time of some of the larger vendors. Our customers don’t have to wait years for new requirements to be met. There are no breakdowns in communication at MORS. Our projects deliver value in weeks, not months or years. Our pricing is fair and transparent and Total Cost of Ownership is orders of magnitude lower than many of our larger competitors.
If size is important to you when choosing a software solution, then you need to think more about what you actually want, and the project experience you want to enjoy. SIZE IS NOT IMPORTANT, it’s a myth. If it wasn’t for our size, we’d be huge.