18 Questions Every Financial Services Firm Should Ask About Their CRM System

Ryan Plourde
| 7/2/2015

If you lead a financial services firm, you know how important your CRM system is to your business. But could it be possible that your CRM system could be holding your business back? How would you know if it was? Honestly answering the following 18 questions may ferret out weaknesses or sore spots in your system. Knowledge is power, and with a clear view of what your CRM system can and can’t do for your business you’ll have the power to move ahead confidently.

In the area of sales management and productivity:

  1. Are there limitations that prevent your team from performing their jobs efficiently?
  2. What is the percentage of your team members’ time that is actually spent consulting with or working for customers vs. time spent on administrative tasks?
  3. Are your consultants able to easily access all the CRM information they need while working remotely as well as while in the office?
  4. Are all of your forecasts and sales pipelines accurate and up to date? Is your data always current, up to the minute?
Marketing management:
  1. Does your system allow you to see the ROI of your marketing campaigns?
Customer service:
  1. Are your sales and customer service records integrated? Are all updates related to sales, service, customer contacts and customer information readily accessible in one intuitive system?
  2. Do you place an emphasis on superior customer experience?
  3. Does your team report issues with your current CRM system? Do these issues prevent them from successfully closing deals or dealing with clients?
  4. Do your service reps have to juggle multiple programs, screens, systems to access all the information they need when trying to resolve issues with clients?
  5. If yours is a company with representatives in multiple divisions, brokerages, regional offices, or store locations, does your current CRM allow easy access to all who need it and give them the support processes and tools they need to accomplish their goals?
For regulatory compliance and business intelligence:
  1. Does your firm face specific regulatory compliance restrictions; can your CRM handle these changing and complex issues?
  2. Do you have up to date information regarding risk exposure?
  3. Are you able to identify your high value clients and effectively cross-sell and up-sell to your best customers?
Versatility and Flexibility
  1. Does your current CRM application allow for easy customization and modification?
  2. Can your system help you build other lines of business applications in addition to the existing CRM capabilities?
  3. Can you give some examples of applications built on top of your CRM system?
  4. Can you be sure that your CRM system is delivering excellent ROI for your business?
  5. Have you considered a cloud based implementation of your CRM and other business systems?

With these questions, can you see any areas in which your current CRM is underachieving? Crowe can help you evaluate what a Microsoft Dynamics® CRM system can do to enhance your business processes and help you move smoothly ahead on the road to success.