Transformative Collaboration: Building Trust Between Solution Providers and Clients

Trust is the bedrock of all successful relationships. But how do you build and maintain trust between solution providers so that the relationship is truly collaborative? And what happens when you hit a bump in the road? With over three decades of customer onboarding experience, Diane McLoughlin, Program Director at FundGuard, shares her personal perspective.

What do you think are the fundamental building blocks of trust?

Trust is built on a foundation of honesty, transparency and respect, which starts with open communication and setting clear, realistic expectations from the beginning – including acknowledging that challenges and bumps in the road are normal. Preparing clients for this reality helps to avoid disappointment, and ensure trust is maintained when those challenges inevitably occur. 

Being efficient and respectful of the client’s time are also essential for building trust, especially since many clients are juggling other responsibilities. Over the years, I’ve found that being present and working alongside the client really helps build trust. Colocating implementation teams increases efficiency, improves communication, and allows the client to see just how hard the team is working on their behalf. 

Could you expand on the role of honesty in building and maintaining trust? 

It’s important not to avoid the difficult conversations and to be upfront about any challenges that arise, including when delivering bad news. Honesty builds trust, so own up to your mistakes – don’t try to hide them (we’re all human and mistakes happen) – and address them immediately. This prevents greater issues down the line. 

Clients often start a project assuming it will be a smooth and consistently positive experience but it’s important to level-set their expectations by letting them know at the outset that this is a journey and there will be bumps in the road. This is a normal part of the process. 

You should tell the client early on about delays or other issues – proactively solving the problem – rather than just ‘hoping for the best’ or delaying the inevitable. Partnership means proactively anticipating challenges and being transparent about timelines. When we make a commitment, we either meet it or promptly communicate any necessary adjustments, always with the goal of keeping clients informed and prepared.

How do you ensure the trust you and your team have built with a client during implementation is maintained once they’re live?

We maintain an ongoing dialogue with our clients, even after implementation, and are proactive about addressing issues and understanding the client’s evolving needs. At FundGuard, we provide both tactical day-to-day support and long-term strategic support post go-live. For example, if a client is experiencing growth, we discuss how our solution can support their new business. This continuous engagement ensures our partnership remains strong. 

What role does trust play in changing mindsets towards legacy technology?

Trust is vital when encouraging clients to adopt new technologies. Many are resistant to change due to fear of disruption or uncertainty. When we’ve established trust, they’re more willing to listen to our recommendations and embrace innovative solutions. They trust that we have their best interests in mind and that the new technology will ultimately benefit their business. I have even seen situations where someone’s openness to change directly correlated with career success. 

When clients trust that we’re invested in their long-term success, we’re able to collaborate effectively as partners.

How does FundGuard’s approach earn clients’ trust? / Why do clients trust FundGuard?

Our clients need to trust both the people they interact with at FundGuard and the technology they rely on for their investment accounting. 

We have a very narrow and deep focus on being the investment accounting platform for the industry, and a team who are committed to transforming the industry. These are people with vast experience, expertise and insights working alongside individuals in the early stages of their career, who bring fresh perspectives.  Many of our experts have firsthand experience working with legacy systems and understand the challenges they pose.We all have a genuine passion for investment accounting and working with clients who share our vision of industry transformation. This has allowed us to deliver a more agile and modern platform that is trusted by our clients.

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Want to see how a modern, collaborative approach to investment accounting can future-proof your operations? Get in touch.