As firms seek to leverage technology solutions to meet their 2022 business objectives, collecting real-time metrics has become a high priority. Real-time performance data can provide another valuable resource to help firms improve everyday management, productivity, and back-office function – and tackle the bigger picture of overall client satisfaction as well.
Most respondents with access to real-time data currently obtain it via an automated, third-party marketing platform while about a third manually import data from an application. Better integrations with their existing (and trusted) CRM tools could help bring this valuable resource within closer reach.
Firms with access to real-time metrics can unlock new ways to measure their performance. More than seven out of 10 firms consider real-time data on revenue per client to be the most useful real-time metric they could have. Real-time performance indicators for assets under management revenue per producing advisor are also a high priority for many clients.
“One of the biggest challenges for most firms is having a fragmented user experience and having to swivel-chair to many different platforms to input data, share data, and generate useful reports,” says Feinstein. “At Salesforce we tap into the power of more connected data and AI together to automate manual processes, study trends in activity and deliver insights and next best actions as well as offer enhanced levels of personalization.”
Access to these types of real-time data can help firms make administrative and back-office tasks more efficient. That process, in turn, can substantially increase the bottom line, as resources freed from administrative tasks can redouble their efforts to deliver high-touch, high-quality customer service.
By integrating as many of these functions as possible with their existing technology via enhancements to critical systems like the CRM, wealth managers can chart an efficient path to improved productivity and better customer support. These enhancements, in turn, can lead directly to more satisfied clients, more assets under management and enhanced revenues.