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Microsoft Dynamics 365 CRM for financial services organisations: key features and benefits

 

Financial services organisations have many unique requirements that must be considered when choosing a CRM system. On top of the specification of the system itself, financial services businesses have complex processes and regulatory requirements that makes it difficult to find software that is the perfect all-round fit for this sector.

With Microsoft Dynamics CRM features, financial services organisations can gain deeper customer insights, deliver better reporting and stay compliant with all relevant legislation , all while improving processes across the business.  We have put together a breakdown of the key benefits and features of Microsoft Dynamics  365 CRM. 

Table of contents 

1) 360-degree client view

2) Mobility 

3) Sales improvement

4) Reporting

5) Regulatory Compliance & Security

4) Why Dynamics 365 is the best choice for financial services

 

1) 360-degree client view

In the financial sector, being able to have a single, central view of all your customers is essential, but it is made difficult by disparate internal systems that don’t collaborate effectively. With Microsoft Dynamics 365 CRM features, this is no longer an issue. The CRM system has the capability to take relevant information from all of your siloed product portfolio systems and data warehouses to provide a single, seamless view for all users - removing the need for users to access multiple systems and increasing the efficiency and effectiveness of your team. 

This central view of all clients not only makes your sales team’s jobs much easier, but it improves overall sales visibility across the business. As a result of this, 360-degree client view can increase customer loyalty and satisfaction. 

Want to know how Microsoft Dynamics 365 CRM can improve all sales processes in your financial services organisation? Check out our free eBook:

The 101 guide to implementing Microsoft Dynamics 365

 

2) Mobility

Microsoft Dynamics 365 CRM is a cloud-based software, it can be accessed securely by your team, from any location at any time on any device. For salespeople who spend much of their time outside of the office in face-to-face meetings this enables them to be connected and productive on the move.

Because of this, salespeople can reduce the time spent on administrative tasks. They won’t have to return to the office to write up meeting notes or actions; instead, they can capture them immediately on their phone or tablet device. While the Microsoft Dynamics CRM mobile app provides all the core capabilities your team requires while on the road, Microsoft has also integrated Power Apps, Microsoft’s low-code app-builder, into Dynamics 365. This allows financial services organisations to craft functionality directly suited to their business, such as a 'Know Your Customer' app that prompts salespeople to update customer information. This automates sales processes, saving time and money.

 

3) AI driven sales support

For sales teams, identifying opportunities and retaining customers can be a challenge when faced with multiple, unconnected systems that are often inefficient and difficult to use. With Microsoft Dynamics 365’s Customer Insights solution, salespeople can sell to and retain more customers with prompts and help from AI technology that identifies opportunities for cross-selling and upselling, adds automation to traditionally manual sales processes, and prompts them to take timely action.

Using the data already stored across your various systems, Microsoft Dynamics 365 uses machine learning to identify sales opportunities based on previous successful closed deals, meaning that salespeople no longer have to waste time on prospects that will never become customers. In a sector where having valuable customer data and insights is crucial, Microsoft Dynamics 365 CRM makes leveraging this data simple.

 

4) Reporting

Microsoft Dynamics 365 CRM was designed to provide insights and its data is structured to make KPI’s easy to report. Sales reporting is both simple to produce and in-depth, while still supporting the even the most stringent data access and visibility constraints. This reporting includes standard out-of-the box capabilities such as a sales pipeline and dashboards, which are embedded within the CRM system. The system also allows users to create more complex, custom reports that are ideally suited to the financial sector, such as:

  • Customer retention
  • Assets under management
  • Customer revenue and profit
  • Risk metrics
  • Year-on-year performance
  • Net promoter score

Through its integration capabilities, Microsoft Dynamics 365 uses information stored in the CRM along with your other systems to provide the rich analysis and analytics you need to create detailed and thorough sales reports. This not only allows for more accurate reporting, but it enables management and staff to gain deep insights into progress throughout the business - not just in the sales team.

 

5) Regulatory Compliance and Security

For financial services organisations, remaining compliant with relevant legislation is a key concern that any software must address. As a secure cloud hosting platform, Microsoft Dynamics 365 CRM has integrated compliance. This includes control over data residency, and accessibility for compliance teams who can monitor sales visibility, audit information, and record compliance activity. Dynamics 365 also has a comprehensive security model, where all data is accessed on a need-to-know basis and any updated information is audited to ensure complete transparency - which is essential for financial salespeople who are often protective over their data.

The CRM system can also cater for any regulatory requirements your business needs to adhere to, and is able to prompt salespeople to follow processes in-line with regulatory guidelines.

With Microsoft Dynamics 365 CRM, the concern of being non-compliant is extinguished; for instance, where a key facts/features document needs to be confirmed by your customers, the CRM system ensures that all important information and interactions are captured and stored properly. This reduces the potential for human error and therefore the risk of non-compliance - keeping both the sales and compliance teams satisfied.

6) Why Dynamics 365 is the best choice for financial services

As a market-leading CRM software, Microsoft Dynamics 365 can deliver excellent customer and user experiences across the financial sector, building better, long-lasting relationships with salespeople and their clients. With its powerful automation and workflow capabilities, financial salespeople can track each stage of their customer’s journey, all while ensuring compliance with the system’s integrated security capabilities. 

For more information on how Microsoft Dynamics 365 CRM can help you unify your sales team, improve customer experience and ultimately drive revenue and profitability, check out our free eBook: Microsoft Dynamics 365 - The Ideal CRM for Financial Organisations.

Free download

The Ideal CRM for Financial Organisations

Download our free eBook to find out how Dynamics 365 improves business processes, customer relations and compliance management across the financial sector.

Free download

The Ideal CRM for Financial Organisations ebook cover