Nowadays, business is all about maintaining and providing tailored service. The way we strengthen and invest in customer relations has been greatly improved due to the cloud technologies available. Establishing a connection with current and potential customers, generating more income, and delivering the relevant information at the right moment requires more than just industry knowledge — it depends on technology.
Salesforce Financial Services Cloud is a CRM geared towards firms within the financial sector. It is used in a variety of areas, including banking, mortgage, wealth management, and insurance, though its applications are not limited to these areas. It provides financial services firms with the ability to make the most of Salesforce CRM in order to enhance their customer relationships and expand more quickly. It can give a comprehensive understanding of customers and offer helpful data at every step of the customer's journey.
Let's investigate the main advantages of FSC more closely.
Companies that implement SFC are able to provide customers with a much more intuitive customer service experience. Customers expect a lot from businesses, such as helpful advice, rapid responses, easy communication, and more, and SFC can help organizations meet those expectations.
The system assists financial advisors in managing their clientele, households and associated persons in one location. Administrators can pick between an Individual data model or a Personal Account data model to organize the Household-Individual connections. The process of viewing their clients' household map is made easier by the three object relationships: Account-Contact Relationships, Account-Account Relationships and Contact-Contact Relationships.
It is essential to stay on top of leads and referrals in the financial industry, and the financial services cloud makes it easy to do so. This cloud-based system provides powerful productivity tools and partner apps that let financial professionals monitor all the leads and referrals with ease. Every step in the process, from generating the lead to closing the deal, can be tracked on the FSC without any hassles. It has a native Financial Account object that includes pre-defined record types for various financial statements, such as investment accounts, insurance policies, bank deposits, and loan accounts. Not only it helps in determining which leads and referrals are the most advantageous for your business through its provided need-based lead and referral scoring, allowing you to identify the ideal clients and prioritize the most profitable prospects but also you can determine the source of your referrals with FSC's lead and referral tracking system. This system provides native support throughout the entire referral process, from initial acceptance to conversion.
Salesforce Financial Services Cloud (FSC) provides an analytics dashboard and reports that enable financial advisors to make better decisions for their customers, ensuring their growth and profitability. It is highly customizable, enabling financial institutions to adjust the reports and dashboards to meet their specific business needs. The analytics are powered by Artificial Intelligence, ensuring the platform is reliable and accurate. It comes in various editions, making it an ideal platform to help organizations in their financial journeys.
Using Financial Services Cloud's analytics reports and dashboards, financial advisors are able to make quick and accurate decisions to better serve their clients and increase engagement. This platform unlocks a range of fresh possibilities; its powerful functionalities provide outstanding digital engagement to companies. Taking advantage of AI, the platform offers dependable and reliable analytics, which eventually helps companies take better decisions. For example, it provides advanced need-based lead and referral scoring, which helps differentiate between leads and ideal clients, resulting in focusing on the most promising leads with the most important potential for your business. Additionally, you have the ability to modify existing reports and dashboards according to your own needs.
This is an effective and profitable cloud which is available in the Professional, Enterprise, and Unlimited editions. For maximum effectiveness, it is advised to work with a Salesforce consulting partner for implementation as it can be quite complex. Enehano is here to save the day and help you with implementation!