Due to the cut throat competition and introduction of new market entrants, many financial services organisations find it difficult to differentiate their service offering. The nature of the industry is such that the product could be easily imitated, making it difficult for you to set yourself apart from the competition.
In order to gain that competitive edge and win more business, you need to enrich your customer relationship experience. By implementing a CRM (Customer Relationship Management) solution that has the quintessential financial services features, you can drive both new business and improve customer retention, therefore becoming more competitive and increasing profits. Having a smooth application process, and accurate and up-to-date information about the products used by your customers, their incomes, debts, loans, credit scores, as well as transactions, interactions and preferences, will provide you with the insight you need to make the right business decisions.
When combined with self-service portals (whether they be for customers, suppliers or referral/broker partners), you can also provide the ability to quickly access and receive information without direct involvement from your business. Your website, mobile app, customer portal, and physical location should all be in-sync with one another which aligns with new expectations for companies to provide a streamlined experience across all channels. And all of this is driven by real-time information held within your CRM. When portals are planned and implemented appropriately, they have a positive impact on your organisation’s productivity and customer satisfaction. A good self-service portal delivers tangible benefits to service desks, end users and the business as a whole.
However, new systems do come at a cost and the reality of business today (and everyday) is that there is continuous pressure to deliver more services at a lower cost. This results in companies often being forced to make difficult judgements about where to spend their budgets. Projects become delayed or even cancelled because of the initial cost of deployment, or requirements are stripped back to meet a specific budget. However, this doesn’t have to be the case.
We can reduce the cost of your CRM implementation by 20% with Arrk’s FastTrack implementation model. Without losing any functionality while reducing the number of days to deliver your project, it could tip the scales in your favour.