Integrating onboarding and servicing with sales force automation drives efficiencies in financial sector: Pegasystems survey

Infotech Lead America: Integrating onboarding and servicing with sales force automation drives significant efficiencies in financial sector.

Pegasystems, a provider of Customer Relationship Management (CRM) solutions, said the survey was conducted in October by TechValidate, an independent research organization that collected data on the power of integrating sales force automation tools with treasury onboarding from 3,170 commercial/wholesale banking executives.

According to the Pegasystems survey, more than one third of all respondents (34 percent) are manually re-keying data from sales into onboarding tools with 51 percent indicating only some information is auto-populated resulting in additional labor expense, slower speed to transacting, and data integrity issues.

Almost eight out of 10 respondents (78 percent) said their organizations would increase sales to existing clients by at least 20 percent if they had seamless integration between sales force automation, onboarding applications and customer service processes.

Roughly half (47 percent) believe that the most significant shortcoming of their current sales force automation tools from other vendors is that they cannot view client data in real-time, nor can they initiate inquiries or customer requests from it.

Customer onboarding, which often leverages several disparate sources for manually entering customer data, can be time-consuming and error-prone. With Pega, banks are becoming more customer-centric as they convert these complexities into competitive advantages.

“In the past few years the industry has focused on outsourcing and automating processes like onboarding (with EBAM), customer service, or creating business agility with cloud-based sales tools,” said Ron Wellman, industry principal, Commercial Banking for Pegasystems.

“Pega believes significant ROI is now possible by increasing focus on the client experience throughout the entire lifecycle, incorporating automation and self-service where relevant. By integrating sales, onboarding, service, KYC/FATCA, case management, and payment exceptions, we give banks the ultimate client-centric solution to get ahead in this highly competitive environment,” Wellman added.

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