The role of Investor Relations Officers (IROs) places them in a unique position between senior management and the outside world. Maintaining and nurturing the dialogue between the company and the capital markets, including current and potential shareholders and financial analysts, is at the core of the IRO's responsibility. This dialogue extends beyond an IRO's individual company to encompass its industry competitors. Call it competitive intelligence, market intelligence, media monitoring or something else, a successful intelligence gathering function shares a few common characteristics that translate into effectiveness, efficiency and strategic importance.