Simplified Customer Onboarding for a Global Financial Services Client
Overview.
The client was major US financial major dealing in financial, retirement, insurance, and investment services, products, and solutions. The key objective of the client was to expedite customer on-boarding and plan the setup process by minimizing the manual work across various onboarding stages. The client partnered with us to track and create various activities and tasks on Salesforce and support real-time, on demand fetching and feeding of most updated customer onboarding information to external entities like SetIt, FundOps and Task Manager.
The existing customer onboarding for institutional markets was being done manually consuming few hours per FTE with no system integrations in place for a sequential process of task execution. The various forms used to capture customer information and product recommendations were not quite accurate leading to errors and omissions on the side of client transition services, client transition managers and quality assurance teams. The front-end of the existing system was too primitive with no proper workflow for tracking the customer on-boarding journey and thus failed to offer a good user experience.
Solution.
Partnering with the client, we successfully provided the needed solution to standardize and automate the on-boarding process:
Customer onboarding was fully automated sequencing from plan setup, registering plan sponsor details, enabling record keeping options, interfacing with the multiple stakeholders.
Rule Engine based guided process flow, providing integration with external systems in real time to finally generating a welcome kit for the customer and a list of MIS reports.
Salesforce was integrated with various systems like VPP (Pricing Engine), Rules Engine, Workflow and Document Management to complete end-to-end automation from Opportunity Management to Lead Management to RFP Quote to Customer On-boarding to finally Contact Management and Reporting.
The entire process was built on re-usable frameworks and tools driven by responsive UI compatible with all versions of Salesforce (Classic, Lightening) and web/mobile enabled.
A fully secured data integrity element at all levels with allowable transparency and role based access.
Highly reusable lightning component based design for a user friendly, responsive UI and Salesforce Mobile. New robust data model was introduced to capture information in salesforce.
The Impact.
65%
Of FTE time per customer saved by fully automating the customer on-boarding process.
90%
Accuracy and uniformity achieved by automating the product recommendation and selection of the right forms for the plan.
25%
Time saved in correct status reporting and proper work coordination by Monitoring the progress of task from each stakeholder.
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