4 Signs You Need Finance CRM


In today’s overly competitive business world, it is impossible to keep focus purely on the product you sell. Successful business strategies, in regards to financial institutions especially, include impressive sales figures along with clever marketing and efficient client support. Customer relationship management, or CRM for short, is all about keeping your client happy by resolving their problems and offering them individualized products and services tailored to their specific needs. That is why, finance CRM is a perfect automation solution for banks that handle massive amounts of data and have to tweak their strategies to keep up with technological progress. There is so much more to CRM software, like bpm’online, than just a digital contact list. It helps unify channels of information and align operation across bank units, such as marketing and sales departments, and it motivates employers to move away from the product-oriented approach and turn to their target audience, as keeping your patrons satisfied is the main reason why their products and services exist.

Of course, not all enterprises, especially traditionally inclined ones, welcome changes. Installing powerful CRM software requires time and effort from both IT specialists and customer-oriented teams that have to get adequate training in order to use the system to its full potential. It is also a good idea to start small and spread finance CRM deployment from smaller branches center-wise.

So, is it time for you to deploy finance CRM? It is, if you say ‘yes’ to the four alert situations below.

You need finance CRM if: your bank still uses spreadsheets

Multiple tools to organize data may be both a blessing and a curse. On one hand, you expand your possibility range by making use of all functions that digital spreadsheets, like MS Excel, messengers, e-mail contact groups and paste-it notes have to offer. On the other hand, when you handle terabytes of data (like banks usually do), it gets extremely complicated to switch between them without forgetting or losing some important bits of information. Spreadsheets may be a good solution for storing up to a hundred positions, but when you have thousands, managing them devours too much valuable time and decreases employees’ productivity. Another important drawback is the difficulty to share such information between departments, which means some of your core teams will not be updated on some important changes or events scheduled.

That is why keeping all important data in a single storage database seems the most reasonable solution. Finance CRM offers you to unite all actions on one platform, embracing sales, marketing and customer service. By guiding you through every step of the customer journey from the very first request to purchasing the product, the program helps you to remove the gap between different units of your institution and increase your profits and return-on-investment.

You need finance CRM if: you are still using old sales strategies

Back in the 90’s it was common for banks to sit and wait for their new client to walk through the door. In the 21st century, this approach is outdated, and your profits are bound to fall if you keep sticking to it. It’s time to wake up and do some real action! Now, it is time for companies to find clients, not vice versa. By deploying progressive finance CRM, you are sure to give your business a new start and make it stand out from the crowd. You may seek your own customers by optimizing your marketing campaigns and optimizing different types of operations for your clients’ convenience.

For instance, it may be wise to reorganize different payment systems into one platform and cut the time needed to do a financial transaction. Step-by-step instructions help you to choose the best practice while easy-to-use interface and availability of data enable you to customize the system and adjust your solutions for their personal needs.

You need finance CRM if: your employees avoid using your current software

Although many automatic solutions tend to be user-friendly, a bulk of employees feel they do not use their software to its full potential or avoid using it altogether because of routine and tiresome mechanical operations it requires them to do again and again. The best way for your team to go digital with least possible effort is to find an optimal CRM solution, like bpm online, that is intuitive and requires little training for stuff. Following understandable step-by-step instructions, your team will need very little coaching and, as a result, hours of group trainings can now be dedicated to customer service. Self-learning is also easy to grasp – no need to be a rocket scientist for that either. The program only coaches the employee of the portion of functions that are imperative for his or her work, which spares employees excessive information and does not tire them.

You need finance CRM if: your actions lack analytical background

Last but not least, is the ability of automated CRM to provide you with analytical data for better and quicker business decisions. Using all tools at your disposal, you will be able to track your client’s real and virtual activity and use it for building individual strategies. Moreover, while choosing to see only the data you need on the screen, you stay focused on your key priorities more easily.