Working in the financial services industry is not an easy-breezy thing to do. It is all about managing people’s wealth and helping them plan their lives, literally. Clients trust financial services companies with their hard-earned money and expect a smooth, secure, easily trackable process of handling the wealth.
Delivering highly personalized service to numerous clients becomes an uncomplicated task with a powerful CRM system. Sure, the companies face a lot of problems in their tenure and sometimes fail to decide on a power-packed software that could help them rise out of the debris.
Salesforce Financial Services Cloud, a wealth management software by Salesforce, solves, tackles, and outwits common financial services problems. It is a powerful and flexible program that helps companies track their clients’ details their progress without any discrepancies.
How does Salesforce Financial Services Cloud solve Financial Services problems?
Let’s see how Salesforce Financial Services Cloud solves some of the problems that the financial services industry professionals face.
1. Helps in getting rid of outdated software:
Financial services companies often get stuck in the loop of outdated legacy software. They keep on using the same old software for decades repeatedly. It defies them to keep up with their clients’ expectations, as well as, their sales teams’ efforts.
With the power of Salesforce Financial Services Cloud, financial services companies get the power to link internal systems and push all their important data to a single place – an easy-to-use dashboard. This software offers useful functions and customizations that are easy to implement.
2. Helps you in engaging with the customers better:
Sometimes, it is difficult to be on top of the clients’ financial needs and making sturdy decisions for them. Having a clear view of everything becomes a huge task when an outdated CRM does not support integrated systems.
Salesforce Financial Services Cloud makes it possible for everyone in the team to access important information about clients, their accounts, financial goals, etc. With the integration of various wealth management technologies, Salesforce helps in fetching data of each client that can be pushed to a single dashboard in order to have a clear view. Moreover, with the help of the Salesforce app, clients can be in touch with the financial services company and can engage without any hassle.
3. Helps in maintaining an enormous amount of data:
CRM systems gather huge amounts of customer data but lack at delivering an easy to interpret information. Sorting through an enormous set of data which is scattered and unstructured becomes a one big challenge for financial services companies.
Salesforce Financial Services Cloud gathers all relevant data into a single dashboard and provides real-time recommendations with the help of Artificial Intelligence.
4. Offers compliance features:
One huge challenge that the financial services industry faces is compliance. Salesforce Financial Services Cloud comes power-packed with compliance features. It makes the communication with the client easy, the collaboration transparent, and internal processes simple to build. It also helps in customizing the reporting on the basis of what the organization needs for compliance. This results in saving a lot of time.
5. Reduces operational risk:
Lack of compliance, errors, miscommunication, insufficient processes, and cybercrime can often result in numerous debilitating risks within a financial organization.
Streamlined processes integrated with necessary tools prevent a lot of data-related problems and maintain them in a secure manner, avoiding mistakes and operational risk.
Standing up to the clients’ expectations
Clients rely heavily on their financial advisors. All they want is to access their financial information easily, track accounts, and communicate effectively with the advisors. These basic, yet crucial needs of clients’ are rarely fulfilled with the use of old legacy software systems.
With Salesforce Financial Services Cloud, all the client data is well-organized, streamlined, and easily accessible. The client-company communications are made easy, too. With the right Salesforce consulting company, any financial services organization can benefit from the CRM functions and stand up to their clients’ expectations, creating a long-lasting professional relationship and a deep level of trust.
Source: Salesforce, RTS Labs, RelationEdge