top of page
Frame 4_edited.jpg

Implementing Customer Relationship Management, and not just CRM!

Customer relationship management - true to its name - is a concept and if translated properly into a platform can help companies manage all their customer relationships (and interactions) in one place.

Customer relationship management abbreviated as CRM has evolved from merely handling customer interactions (Queries/ Requests / Complaints), about 10 years ago, to orchestrating entire customer relationships for institutions - beyond just providing a 360-degree view.

So why does CRM matter?

Let's see this through a few scenarios and see where it fits in today.

Scenario 1: A customer calls your customer care, inquiring about a personal loan. The customer service representative shares all the information, the customer agrees, and a pick-up is scheduled for collecting all the documents from the customer for processing the personal loan

Scenario 2: The same customer then walks into your bank branch for opening a bank account, he is happy with the offerings, and another pick-up is scheduled for the savings account.

Scenario 3: The same customer wishes to apply for a credit card and does not know where to call!

Problem 1: His first request went to the Assets team of the bank, while his second request went to the Liabilities team.

Problem 2: The third request may or may not land up as a lead or better still a pre-approved card for the customer based on his credit rating.

Problem 3: The same bank is going to now spend money and manpower thrice, to pick up the same set of documents, from the same customer and also to process his credit card request.

Why did this happen?

Because the 3 different teams did not have visibility of all the interactions the customer has had with the bank, leading to an:

  • additional expenditure which could have been easily avoided

  • experience for the customer that could have been smoother and less time seeking

  • teams working in silos.

This is why a good CRM platform matters for any financial services organization as it can act as a great harmoniser for not just addressing all customer pain points and problems, but also viewing every customer as a unique relationship.

So what does a well-implemented CRM mean or imply?

When companies implement any CRM with the pivot being Customer Relationship, the battle is half won. Now comes the question of how they engineer a CRM. There are the likes of

  • Salesforce

  • Microsoft Dynamics CRM

  • Zoho CRM

  • CRM

  • SugarCRM

  • Oracle CRM


  • Adobe CRM


  • and the list goes on.

The questions that get evaluated are

  1. Will it address all our use cases?

  2. Is it Cloud native?

  3. Does it facilitate multiple orgs?

  4. Does it have community editions?

  5. Does it facilitate experience management across all channels?

  6. Do we need specialists for implementation?

  7. Do we have a vast talent pool or implementation partners?

  8. How expensive is it?

While the choice of the CRM a company chooses is purely its call basis all of the answers to the questions above, a well-implemented one can be really rewarding for companies. According to an INC. report from 2019, a well-implemented CRM can yield an ROI of $2.50 to $5.60, for every dollar spent!

6 key benefits of CRM systems provide to a financial services company

  1. Creating a centralised database of all the customers and leads across the organization.

  2. Simplified dashboard for visualising and segmenting customer profiles by harnessing the centralised database.

  3. Proactively understand the next best service, product or offering that the customer needs!

  4. Identifying 3Ws of communicating said service, product or offering: When to reach every customer, What to say (personalisation), and Where to reach them (the best channel)?

  5. Automating administrative tasks such as data entry, reminding team members to follow up with prospects and customers, and generating sales reports

  6. Enhancing team collaboration due to complete visibility in terms of who is (currently) owning the relationship with the customer or prospect, at what stage the relationship is, who should the administrative tasks be delegated to and more.

To conclude: If customers matter, customer relationships matter and CRM is the best bet to manage them. A well-implemented CRM is an asset and an ROI driver for any organization.

If you are considering a CRM for your company, and need someone to answer your questions or help you with implementation - reach out to us today at

With our experience implementing different CRMs at leading institutions, we can guide you to the best solution!


bottom of page