August 8, 2024
Listen to this articleConsidering the sensitive nature of data maintained and operations conducted, financial services firms have always been on the lookout for the best technologies that can simplify their operations and boost their productivity. Hiring a trusted Salesforce development company is one way to ensure having the right support of experts to manage financial services operations.
Do you know what makes the top choice of CRM for financial services firms? It’s the customizability and security it offers to tailor the operations according to the business while safely handling sensitive client and business information.
However, you need to have the right support of experts to implement and manage the platform for maximum utilization. That’s where Salesforce consulting services step in to help firms leverage the CRM the right way.
Hiring Salesforce development services has become a common and efficient practice among businesses from different industry segments, specially for financial services. This is due to the range of support and services they tend to offer. So, let’s cover some points here on how exactly these trusted Salesforce partners can help companies dealing in financial services.
Salesforce offers a unified view of your business data with instant, reliable access, streamlining operations by eliminating the need for duplicating client information across different systems. This enables financial services professionals to make investment decisions with the customer’s perspective in mind, allowing for personalized offerings that provide a competitive edge over other institutions.
Financial services professionals often face a lot of difficulty to work with predictions and forecasting for which they fail to have the right solution. Salesforce CRM empowers them with timely access to crucial client data, enabling more accurate financial decisions and budget forecasts.
With Salesforce, executives can better anticipate future income, assess potential risks and opportunities, and take proactive measures to stay ahead.
Forrester research indicates that 89% of companies using algorithm-driven financial services for decision-making gain a significant competitive edge.
Salesforce’s real-time analytics equip financial advisors with the tools to precisely budget, forecast expenses, and take immediate corrective action. Powered by artificial intelligence, these analytics provide crucial insights and unparalleled visibility into the customer journey, revenue, retention, and churn.
Moreover, Salesforce CRM presents data through customizable reports and dashboards, making complex information easily digestible. Financial professionals can tailor these metrics to monitor exactly what they need, when they need it.
According to a Salesforce report, 67% of respondents believe that better coordination between finance and sales can significantly enhance forecasting and boost revenue growth.
Few other CRMs for financial services can manage millions of records while effectively supporting financial agents, marketers, and support teams across globally distributed departments.
More importantly, Salesforce development services provide all these teams with a bird’s-eye view of customer data, no matter where the customer or team is located. This connectivity links all data sources, enriching customer experience profiles to offer a complete picture of your audience and a deeper understanding of client needs.
Salesforce integrates security into every aspect of its platform, effectively managing risks and ensuring regulatory compliance. It offers a range of security features, including security health checks for regular system audits and inspections after each release.
Additionally, a Salesforce development company supports multi-factor authentication to safeguard both corporate and client data. With these robust security measures in place, your team can confidently and efficiently carry out their tasks.
Salesforce includes a built-in analytics dashboard powered by advanced AI. You can access reporting features and custom dashboards to enable your financial team to make smarter decisions that will help companies achieve growth.
Financial firms can also access the Salesforce Financial Services Cloud to manage the entire financial life cycle of your business. Financial Services Cloud offers numerous advantages for organizations looking to streamline their finance operations whether it’s for forecasting, reporting, or budgeting.
When it’s essential to closely monitor leads and referrals, Financial Services Cloud makes it effortless. By utilizing integrated partner apps and other powerful tools within the Salesforce ecosystem, you can effectively manage and track leads. Additionally, the platform’s robust referral components enable your finance team to efficiently track and manage referrals. Upon lead conversion, the system automatically creates an account and opportunity, streamlining the process further.
Salesforce allows wealth management firms, retail banks, insurance agencies, and other financial sectors to tailor CRM functionality to their specific needs. For instance, you can build a customized commission calculator or set the system to highlight upcoming events.
Additionally, Salesforce’s low-code, click-not-code interface lets you customize the platform using pre-defined code blocks, enabling the creation of custom workflows without the need for developers.
This low-code approach allows financial institutions to replicate their real-life processes within the system quickly, without the need for extensive coding. Moreover, this modular setup simplifies future scaling without compromising previously developed workflows.
Managing financial information and operations can be a real challenge. It can be even worse when the team does not have the right solutions to manage it all. Implementing Salesforce can help your team work with a CRM solution that can be customized according to your business needs. That’s how you’ll be able to manage all operations while achieving customer satisfaction. So, contact us and get with one of our trusted experts to discuss your existing challenges.
CEO
Siddharth Sehgal is CEO & Salesforce Communication Guru. He helps businesses grow exponentially by putting their Salesforce CRM on steroids with his unique techniques. He is on a mission to help businesses build deeper relationships with their customers.
