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Next Generation Banking Services to Drive Customer Experience

There have hardly been any landmark changes in the banking services sector since the first bank ever was established back in 1397. Although banks have started to incorporate digital technologies to extend services regarding online banking, SMS banking, and internet banking, the modern day banks are yet to witness next generation banking services. This being said, the next generation banking services should be able to rapidly transform the way banking services are delivered which positively influences the customer experience.SE_Demo2

Blockchain Technology
Blockchain is hyped to potentially disrupt not only the banking sector but also the financial industry as a whole. Numerous players in the traditional banking sector are already looking to incorporate blockchain technology in their banking services. The blockchain technology offers banks to speed up the process of banking transfer securely without the help of any third party. So how does this benefit transform the service side of banking? Well, for the customers it would mean carrying out transactions smoothly, sharing relevant information, quicker and simpler asset exchange, and gaining real-time updates with high accuracy.

Process Automation
Automation in banking can increase productivity by streamlining the end to end process making it quicker and easier. For instance, an average mortgage application goes through multiple manual handoffs before completion. With a simple solution of using digital signatures, a substantial amount of time and effort could be saved to hasten the process making it more user-friendly. Additionally, the saved time could be utilized in improving products and services which have a positive impact on customer experience.

New Payment Mechanisms
Although practiced on a small scale, we see the rise in popularity of mobile NFC based payments. Apple Pay and SAMSUNG Pay are pioneers in this field allow bank details and payment card to be added to their payment system enabling the user to make secure payments. For the customers, though they can wave goodbye to the days when they had to remember card number, card details, pin code, and security number, as all it would require is one fingerprint or just the face.

CRM Solutions
Big players in the banking industry have already started to use CRM solutions to improve their service delivery. Developers of the CRM tools are innovating to incorporate real-time information to understand the customer and serve them instantly to increase their experience. The next level CRM solutions can effectively provide customized bundles to the customers, offer them the best deals, or sanctions loans and mortgages instantly.

While many emerging technologies may seem to disrupt the banking industry, the players in this industry should embrace the technology to transform the way services are currently delivered. As a result, it can drive the customer experience positively and thereby boost company profitability.

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CRM Software: Giving a Digital Edge to Procurement Processes

With procurement leaders diligently looking for ways to seamlessly bring together suppliers, stakeholders, and internal channels on a common platform – digital solutions have emerged as the best remedy to stay competitive in the procuring process. One such highly useful digital solution is the CRM software. Geared towards managing activities like identification of prospective sales leads, automation of the sales process, as well as enhancing vendor-customer relationships – the CRM software employs tools like data mining to enable strategic procurement of goods and services.

CRM software: Building and managing customer relationships

Customer engagement and customer management are the two critical aspects of every business. In fact, they act as major game changers and are often the main reason for the growth or decline of several businesses. This is why it is essential to a keep a constant track of customer behavior and make changes to your sales and marketing strategy accordingly.get in touch

By taking aspects such as customer data, customer interaction, contracts, and client & customer support into account – CRM software cuts down the customer response timelines and enhances the overall decision-making process. Also by providing an inclusive and real-time view of sales activities in a single dashboard, CRM provides enhanced sales intelligence to the procurement teams.

CRM software and digital edge to the procurement process

Buyers prefer suppliers who have moved ahead of spreadsheets, paper, and related manual processes to cloud-based solutions. With most CRM software being cloud-enabled, businesses find it easier to approve supplier contracts, take quick procurement decisions, and reach out to their client base in a prompt manner. The software being highly customized, industries like real estate, pharmaceuticals, education, travel & tourism, hospitality, healthcare, and IT find it easier to adopt CRM in their day-to-day activities.

Major names in the CRM software industry like Salesforce, have built their own unique internal solutions that allow buyers to gain a customized package depending on their industry-specific requirements. Such solutions not only make the entire work process easier but also adds value to the procurement process. Apart from quick turnarounds, CRM software provides real-time tracking of your campaigns, enables better compliance to policies, is cost-effective, and most of all very convenient to implement.

To know how CRM software can enhance your procurement process Get in Touch

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