24 July 2017 10:55 am
Comprehensive and an affordable customer relationship management (CRM) software founded by a passionate and one of the most experienced CRM teams in Asia, SimpleCRM, recently started delivering its solutions to the Sri Lankan banking, financial services and insurance industry.
SimpleCRM aims to be the No. 1 CRM alternative to Salesforce.com or Microsoft CRM for the mid-enterprise and large enterprise market segments in the Asia Pacific, whilst helping the organisations to last longer with customer retention. Owned by Simpleworks Business Solutions Pte Ltd, SimpleCRM is capable of managing the customer relationships better and is an enterprise grade, highly scalable, comprehensive and cost-effective CRM of choice for large enterprises in the Asian price-sensitive market. Many renowned large organisations with thousands of CRM users are already using SimpleCRM software for managing their sales, digital marketing and customer support operations. In Sri Lanka too, SimpleCRM is deployed at Union Assurance PLC and also as a pilot project at one of the largest banks in Sri Lanka. With an experience of delivering 300+ CRM projects over the last decade, the SimpleCRM team is one of the most experienced CRM teams in Asia.
According to the SimplCRM officials, the recent global economic conditions have brought a dramatic impact to the banking, financial services and insurance industry and as a result, a record shift in consumer behaviour now demands a compensating shift in this sector. Large financial write-downs, a much more volatile market and increased economic uncertainty have resulted in financial services companies being pushed to more conservative business principals and placing a greater focus on the existing customer relationships.
In a parallel scale the rise of consumer technologies such as mobile, social media and cloud have empowered the consumers with on-demand information, real-time collaboration with other consumers and vetted customer opinions of financial services products, policy comparisons, service experiences and a host of factors, which the consumers use to determine what policy to purchase or where to put their money. These changes in customer behaviour have created a ‘perfect storm’ for the financial and insurance services organisations as the customer expectations are growing at rapid rate. The officials from the SimpleCRM added that today’s customers of any product are readily sharing their bad experiences publicly and the customers are switching their providers at a dramatically increased pace.
“Therefore, all financial services companies need to devise a strategy of their own, which achieves increased efficiencies and greater customer focus and results in lower operating costs, better information, increased customer share and reduced customer agitation.”
Under these circumstances, the companies need to switch to CRM systems to achieve these operational and information system requirements. Using CRM systems to consolidate multiple lines of business information to achieve a holistic view of the customer’s information, portfolio and household delivers insightful up-sell and cross-sell opportunities. Further, when the sales, marketing and customer support business processes are automated using the CRM software, the cycle times are dramatically lowered and the user productivity increases.