Pivot, developer of the IMTrader platform, saw its customer base triple last year, according to Ed McDonnell, SVP of sales at the Boston- and New York-based company. And while Pivot's sales team doubled, McDonnell says the expanded staff isn't the only reason for the new clients. Rather, the securities industry as a whole is signing on to instant messaging, which is "more productive, enables more conversations and enables people to have smarter conversations and transactions-related conversations with each other in a quicker time frame."
IM is "the commodity," notes McDonnell. "It's not what is driving decisions for companies, it's not what's driving technology decisions, or even workflow, desktop-tool-related decisions," he says. "It simply is the commodity technology layer that is the transport."
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