Excellent customer service has become increasingly important in the financial services industry (FSI), where competition is high and reputation management is critical.<\/p>\n
It has been earmarked as one of the foundations for business success, as companies which prioritise customer experience generate 60% higher profits, according to Gartner\u2019s Leading on the Edge of Chaos report.<\/p>\n
\u201cFSI institutions are typically not very strong in terms of customer-centricity, even though they have cutting-edge systems for their products, payment services, financial planning, and risk management,\u201d said Justin Adan, customer-centricity client lead at Mint Management Technologies<\/a><\/strong>, a technology consultancy and development company that specialises in customer relationship management (CRM).<\/p>\n \u201cDynamics 365 is a perfect solution for FSI organisations, because it can tie the information from their complex systems into a customer engagement model. This gives customer service representatives a full view of their customers as well as the FSI space.\u201d<\/p>\n Dynamics 365 unifies enterprise resource planning (ERP) and CRM capabilities into applications that work together across sales, customer service, field service, operations, financials, marketing, and project service automation.<\/p>\n It includes solutions designed to help financial institutions achieve quantifiable results with a set of unified marketing and customer service capabilities.<\/p>\n \u201cFSI organisations are traditionally quite product-oriented,\u201d said Adan. \u201cBut with Dynamics 365 they can transform from transaction-centric businesses to customer-centric businesses.\u201d<\/p>\n Dynamics 365 gives FSI institutions a holistic, 360-degree view of the customer, allowing users to track customer data and interactions within a single system, while giving brokers the information they need to deliver fast, personalised service.<\/p>\n Implementing a CRM system like Dynamics 365 for an FSI organisation isn\u2019t without it\u2019s challenges, however. \u201cThe objectives of the consulting, development, and internal teams aren\u2019t always aligned,\u201d said Adan. \u201cAnother challenge is to marry the customer-centric view and data to the FSI\u2019s financial data to ensure operational efficiencies.\u201d<\/p>\n To overcome the challenges of implementing Dynamics 365, Mint introduced a mandatory ProActive offering, which is a consulting package to help clients get the most out of their CRM.<\/p>\n \u201cMany consulting firms get technical immediately, and try to solve key problems without fully understanding the business, its needs, and how it operates,\u201d said Adan. \u201cInstead, we engage with all our clients to understand the overarching business, explain how we work, gain understanding on how they work, and then put together a combined team to ensure that we are all pulling in the same direction.\u201d<\/p>\n Depending on the scope of the project, a ProActive can take between a few weeks to a few months, and includes debriefings, post-analysis, and learnings from over 15 years of CRM project experience to identify the critical early steps that determine the quality and impact of a project.<\/p>\n ProActive aims to align the project objectives with all key stakeholders, including business and IT, while creating clarity and a comprehensive understanding of the solution requirements, and structured planning and preparation for project success factors.<\/p>\n \u201cWe ensure that the context and environment of your CRM engagement is clearly established and includes input from the right players within your organisation,\u201d said Adan. \u201cOnce we have that as a baseline, and all teams involved are speaking a common language and hold a similar vision, a successful implementation becomes much easier to achieve.\u201d<\/p>\n For more information, visit the Mint Management Technologies website<\/a><\/strong>.<\/p>\nDynamics 365<\/strong><\/h3>\n
The Mint ProActive<\/strong><\/h3>\n