Is your CRM System automated enough?

Helpful advices
18 December 2020

Being in the business of building customized CRM Systems for Forex Companies worldwide, it’s our job to create tech that can be used on a wide scale which saves companies time, money, and effort, and undoubtedly makes the lives of management and employees easier. 

That being said - although there are CRM providers like us out there, a small number of companies choose to stay with their current provider. These companies find themselves performing a lot of operations manually, lagging behind their competition, and experiencing growth at a much slower rate. Employees at these companies are overworked, often performing duties for different departments, deadlines are rarely met, campaigns are seldom rolled out on time, and the good people they have tend to leave to go to better places. 

The question is (if you know a crm provider that can customize and highly automate your procedures and workflow); WHY AREN’T YOU MOVING TO THEM? 

Loyalty is definitely a huge factor. Trust, equally as important. After years of service, FX companies inevitably develop both towards their crm provider. The costs associated with moving and time consuming re-training that a move would entail can be overwhelming too- but the elephant in the room is comfort. 

Comfort zones are the hardest thing to break. It’s hard to admit that you got used to something and although it’s far from perfect, you don’t want to change it. 

But mark our words- staying in a comfort zone with your current provider will be the death of your FX business. If your current provider can’t progress with the times, or doesn’t have the capability to automate or create the features needed in order for your business to thrive- it’s time to move on. 

Let’s look at a few basic daily operations that should (without a doubt) be automated. 

1. Emails or messages 

If you’re manually sending emails to your clients in this day and age - this is your first - largely time-consuming - problem. Almost every email needed to be sent to a client can be automated with a little bit of work and planning. It should go without saying that your registration emails should be automatic at every stage - although even we have come across cases where they aren’t (shocking, we know). Birthday emails, expired documents, dormant account charge e mails - again, all have the criteria available to be automated and you shouldn’t be sending these manually. Email layouts, text templates, and emails in multiple languages should all be stored and easily accessible when it comes to changes that need to be made. 

Your CRM provider should also give you the option of being able to message your clients directly - in the client area. E mails can often be missed, but if a client is actively trading - they’ll receive your message. Internal messages (as we call them) should be highly automated too. Case in point - If a client sends a document and there’s an issue with it, you should be able to select the exact issue and inform your client at the click of a button. Long gone should be the days that the client needs to contact support or live chat to see why his document was rejected, or you need to inform this particular group of clients one by one via email. All of your reasons should be stored and with one click from your back office team, the client should know exactly what the problem is. By automating all of these emails, messages and procedures, you’re saving a massive amount of time - and as we all know, time is most definitely money in this industry. 

We provide over 40 pre-set automatic emails and can automate any message or e mail at your request. 

2. Reports 

If you’re still doing reports manually or (worse) combining certain reports together by using information from your crm and information from elsewhere into excel - we feel for you, and you’re not alone. However, it doesn’t need to be that way - and with a decent CRM provider, it isn’t!

If you need to know how many FTD’s you’ve had daily, weekly, monthly, you can pull this info directly into a report in a second with FX BACK OFFICE. Likewise, if you need to compare and contrast your sales team’s performance it’s easily done, week on week, month on month, year on year. The same goes for your marketing campaigns. You can create any financial, marketing, or sales report needed within our system, and you have the opportunity to use numerous pre-set reports we provide, such as CySec and P/L. You can also custom create reports with or without our help, and save any report to use later- so when your manager or shareholder needs a report fast, it will take seconds, instead of days or hours. 

3. Mass operations 

Probably one of the most time consuming tasks of all (if they aren’t performed automatically) are mass operations. If a person in your team has jumped ship and you’re allocating clients one by one to different account managers based on criteria like language or country- you’re working on something from the Stone Age! Allocation of clients should be the simplest of operational tasks due to it being so time sensitive. A click of a button should enable you to move massive amounts of client data to wherever it needs to go. You should be able to sort and allocate your data with scrutiny (for example, if you have a client who lives in one one country but doesn’t speak the native language - they should automatically be assigned to a manager who’s language they speak). With mass operations at FX BACK OFFICE, you can set priorities for these types of allocations, making sure no client slips through the cracks. First impressions of new account managers are vital, and mistakes such as calling a client from a country you manage and realizing you don’t speak their language, is a terrible way to start a new relationship, which can often result in losing that client altogether. 

4. Permissions 

As the saying goes “If we had a penny for every time we were asked about what exactly can be set in permissions - we’d be billionaires!”. Permissions are crucial for your own protection.  What most CRM system providers don’t get, is that even permissions can be automated.

While its great to be able to select permissions one by one, or select groups of permissions- it’s equally as important when dealing with larger FX companies to be able to apply these permissions instantaneously. We can’t think of anything more mind numbing than spending your day selecting  permissions for 5 new employees in different departments (and believe me we’ve been there!), which is why we’ve created a way for you to store permission templates per department and simply decide which template applies to your new employee. This simple automation can save you hours or even days, depending on your rate of growth or employee turnover. We still allow you to select permissions one by one, or in groups or segments, so you’re able to do what’s comfortable for you. 

There are no restrictions in FX BACK OFFICE’s CRM in terms of what you can give permissions for- each and every action in the CRM is listed in permissions and it is at your discretion to decide who is allowed to do what. Data protection is of our utmost importance, so even up to root level - you can restrict exports of client data to CSV too. 

If you see that even these basics aren’t met with your current crm system provider - the question you need to ask yourself is this; Is my CRM automated enough, or could I be saving time and money by moving my business elsewhere? 

We are here to help you answer that question, and are available for presentations Monday-Friday 09:00-18:00. Take a deeper look at FX BACK OFFICE today to see what you’re missing out on!