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The financial services industry is more than money and numbers. Helping clients with their financials is literally helping them plan their lives. Your service has to be personalized and private. Delivering this type of highly personalized service to so many different clients is a lot easier when you have a powerful CRM. But, when you look at the top 5 financial services problems and how Salesforce Financial Services Cloud solves them, tackling your client load doesn’t seem so overwhelming any more.
To be successful in the financial services industry, you’ve got to stay on top of trends, watch out for every client’s best interests, and understand their needs as their lives and circumstances change. That can be nearly impossible with the old, clunky software and disparate data sets that most legacy financial service systems make use of.
From what we’ve seen working with financial services clients, Salesforce Financial Services Cloud has proven to be the kind of flexible, powerful program that can help you keep client details straight and track their progress as your client.
Too many legacy systems are a mix of evolving products that aren’t compatible and data that hasn’t been properly handled. That’s led to systems that are unable to provide a clear picture of clients and their needs. But all hope is not lost. Financial services firms don’t need to reinvent the wheel. Check out how Salesforce Financial Services Cloud can solve many of the problems you and other industry professionals are facing today.
Need a clear view of your client and how their financial needs and goals are evolving over time? You’ll have a harder time staying on top of their needs, watching trends, and making the best financial decisions for them if your CRM is outdated and your systems aren’t integrated.
With Salesforce Financial Services Cloud, everyone in your organization who needs it can access information about your clients’ key life events, financial goals, and accounts. Salesforce integrates with many of the leading wealth management technologies out there, so data can be pulled into one dashboard for a clear view of each client. When clients know they can trust the people in your office to be on top of their personal details, that can increase their comfort levels with your organization.
Salesforce also gives clients the flexibility to connect with you anywhere through the Salesforce app, making client engagement easy.
Outdated legacy software is one of the biggest challenges faced by financial services professionals. Most software from even just five or ten years ago can’t keep up with the expectations of your clients nor of your sales team. How can you effectively deliver a high level of service when you don’t have the tools you need?
With Salesforce Financial Services Cloud, you get the power of Salesforce CRM, tailored to your industry. Salesforce also gives you the power to connect all your internal systems and deliver the most important data to one place: an easy-to-use dashboard. Between the useful out-of-the-box functions and the customizations you can implement, you can build on the data and systems you have while taking advantage of Salesforce’s leading-edge CRM capabilities.
Communication breakdowns, employee errors, inadequate processes, lack of compliance, and cybercrime can lead to a wealth of crippling risks within a financial institution.
All these problems can be prevented when data and internal processes are streamlined into one system that has the necessary tools for employees to be successful. Salesforce Financial Services provides that in a secure and compliant manner so that client miscommunications and mistakes are prevented and operational risk is reduced.
Compliance is a huge challenge for the financial services industry, which is why Salesforce Financial Services Cloud has compliance features baked into its software. Client communication is trackable, collaboration is transparent and easy, and internal processes are simple to create. Reporting can be customized, too, depending on what you need for compliance, which could potentially save you a lot of time when you have a need to pull together information.
Your systems may be collecting large amounts of customer data, but are they delivering it to you in a way that’s easy to understand and use? One big challenge within the financial services industry is sorting through an overwhelming amount of unstructured data to find useful information you can use to better serve clients.
Not only does Salesforce bring all your relevant data into one dashboard, it uses the power of artificial intelligence (AI) to deliver real-time recommendations for each client based on historical data.
Clients expect a lot from their financial advisors. They want easy access to their financial information, the ability to track their accounts, and an open line of communication with their advisors. Most old legacy software systems just aren’t going to cut it.
With Salesforce Financial Services Cloud, all your client data is organized, processes are seamless, and internal and client communications are easy. There’s no need to reinvent the wheel to meet your firm’s specific needs. With the right Salesforce implementation partner, you could have the CRM functions you need to really amaze your clients and increase their levels of comfort and trust.
Curious to know more of the details, such as how long it could take in your organization to implement something like Salesforce Financial Services Cloud? If you need straight talk about what your current situation is – and what it will take to fix it and get you where you want to be – sign up for a free consultation with the RTS Labs Salesforce teams. Get straight talk about if Salesforce is right for you, how we can get your data ready, and what implementing your Salesforce solution would look like.
Contact us to talk about how we can help.