Here’s Why An Integrated Workstation Is More Important Than Ever

The definition of value has evolved over the past few months for financial services firms as well as their customers.

For advisors, CRM has evolved into a go-to resource that affects their daily interactions at every level, and the success of the software at their disposal depends more than ever upon how they handle data.

This is what makes integration such a crucial factor in the deployment of any CRM solution. When done efficiently, it allows firms to provide their users with seamless access to all data and functionality. It also brings together client, account, and company data directly from the source, reduces the risk of conflicting or out of date information, and empowers advisors with all enterprise knowledge about a customer in a comprehensive customer-centric view.

CRM In A Post-Pandemic World

The pandemic has affected every facet of the marketplace leading to advisor expectations that have given rise to specific trends:

Improve customer service:

This is more important than ever in our Age of the Customer. Firms acknowledge that the only sources of competitive differentiation that will matter in the months and years to come are good customer experiences. The need to make customers feel understood is more important than ever, and data-driven responses are easier when CRM is used effectively.

NexJ helps firms improve customer service with wealth management-specific solutions that enable advisors to track client attributes specific to their business. Our CRM helps manage complex relationships quickly, create and share notes quickly, and offer more efficient recommendations.

Generate empathy:

CRM makes this possible by translating data-driven insights into real-time actions and more informed financial advice. More and more studies show that this helps customers feel more engaged, prompting an increase in assets under management.

The pandemic has created the potential for unnecessary risk-taking or making poor financial decisions. NexJ offers solutions that help advisors re-assure clients pro-actively, based on an understanding of individual concerns and how they affect each member of a client’s household. We help advisors track all key conversations and investment decisions, creating a more comprehensive picture of a client’s financial health.

Use automation and AI:

Our lives have been changed by social distancing and the rise of virtual interactions, which will have implications for the use of automation and Artificial Intelligence in CRM. This will lead to efficiency, time savings, as well as tailored advice to meet customer needs when, where, and how they want them. Solutions will have to keep up not just with how customer demands change, but with the expected increase in touchpoints and volume of data.

NexJ Nudge-AI, our suite of digital assistants, leverage AI, Machine Learning, and Natural Language Processing to make suggest next best actions, share relevant information and analyse data for insights that help advisors better engage and service their clients.

How NexJ Approaches The Idea Of Integration

NexJ CRM aggregates data from enterprise systems, applies business intelligence, and drives intelligent, proactive interactions, saving advisors’ time. We have always believed that CRM must lie at the core of an advisor workstation because managing clients in a central location will be more important than ever in a post-pandemic world. We rely on integration to effectively automate day-to-day tasks, personalize service, and encourage pro-active engagement, all via a single, seamless interface.

Our solutions streamline key tasks, leverage analytics (and social media), and display relevant KPIs and dashboards to influence advisor behavior. This allows our users in 60 countries to do their jobs effectively, offering their customers a superior level of service and engagement.

Advancements in technology are expected, of course, specifically in areas such as Artificial Intelligence to automate non-social tasks. There will also be an increased dependence on Machine Learning to process customer behavior across digital landscapes, and an emphasis on hyper-personalization to cater to more collaborative relationships between firms and customers. CRM will also learn how to parse data better, to create models that are more accurate and actionable.

Here’s another reason we take integration as seriously as we do. It improves user adoption rates, which is key to the success of any Customer Relationship Management software implementation. Firms may bring on board all kinds of new products and solutions to face the economic climate of tomorrow. Their success will depend entirely upon how their advisors take to these tools.

To find out about integration, how we approach it, and what the next generation of CRM will look like, why not send us a message?