Streamlining sales in financial services

If you work in sales operations, you’ll always be looking out for solutions that streamline processes for your sales team. To make sure they spend more time closing deals and less time dealing with admin, you should add an automated document generation solution to their sales toolkit.

Consider the way business documents tend to come into being. Mostly, they’re created manually, through a process – not always standardized – of considering what content to include, collecting and inputting relevant data, selecting the font that sets the right tone, making sure relevant branding elements appear where they should…. and that’s before you even think about ensuring it reaches your client. Then, there’s also the challenge of managing documents so that they are accessible by the right people, whenever they may need them, and of keeping them up to date, such as when central data, for example from your CRM system, changes. All in all, it’s a costly, time-consuming, error-prone exercise.

Automate to accumulate

So much of consumer finance is digitized these days: paying bills, applying for loans, transferring funds, managing investment portfolios, and more. It’s perhaps no surprise that, as financial service businesses embrace the digital transformation in different areas of their operations, document generation has emerged as a task that’s ripe for change.

Among the benefits of document automation, a recent Frost & Sullivan White Paper lists faster times to close, increased accuracy, reduced costs, improved customer experience and increased employee productivity. Indeed, they call automated document generation “a critical component of digital transformation”. At Docomotion, we tend to agree!

Business benefits

When you equip your sales team with an automated document generating solution, you create a smart, linked-up experience that connects every document coming out of your business. Take Docomotion, for example: with just one click, your staff can create an accurate, professional-looking document, populated with relevant data from within Salesforce, that is entirely consistent with other documents of the same type going out from your business. Another click (ok, maybe two!) and they can attach documents external to Salesforce. A final click, and it’s winging its way to your client.

These documents are 99.9% error free, and can be shared internally, from any authorized location, via a centrally-held, secure storage solution. This prevents the delays that can creep into your processes when corrections have to be made, or staff have to hunt around to find the most up-to-date version of a file to use. In fact, businesses report huge time savings of up to 60% when they switch to automated document production – time that can be spent more profitably, furthering the interests of your business and your clients.

Client satisfaction

When you automate your document generation, you also deliver a better experience to the people you serve. This is absolutely critical in financial services, perhaps more than other industries: not only are they familiar with the concept of carrying out financial tasks online, but your clients have come to expect the convenience that it offers, as standard.

Automation enables you to make sure everything your clients need to do to access your services can be achieved quickly, easily and in one go. Take e-signatures, for example: by sending a document to a client electronically, with a function for them to sign it electronically, and return it to you electronically, you both speed up and simplify the process for them. They’ll be impressed when the documents they receive are tailored specifically to them, containing all relevant information and requiring minimum input on their part. And, in doing all this while delivering total security and privacy of your clients’ data, you give them peace of mind that inspires confidence in you, not only as a service provider, but as a financial service provider.

The bottom line

Across the board, automation is a fact of doing business today. In a Frost & Sullivan survey of almost 2,000 global IT decision makers, 72% said they have already invested in technology to drive and improve enterprise content and business process management, while almost 25% said that Digital Business Automation (DBA) is one of the top technologies they use to reduce costs and positively impact their bottom line. As this trend continues to gain traction, paper documents will fast become outdated and unnecessary – and soon enough, so will businesses that insist on using them.

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