Customer Onboarding

Industry: Financial Services

Our role: Streamline the process throughout its touchpoints

Featuring: Email Automation

The Situation

Customer Onboarding Reimagined

The client is a $20 million revenue company that specializes in providing lines of credit to businesses. They were bringing in more business than ever, but faced several challenges in their customer onboarding process.

To provide lines of credit to businesses, the client requires that all prospects apply online and sign an account agreement. Once submitted, an internal team must review the application and approve it for onboarding. Another team would then set up and activate the account in the client’s proprietary system. Clear and timely communication with the customer throughout this process was crucial in obtaining necessary information and setting expectations.

Although they had Salesforce, they were not using its full capabilities. The sales team had to enter the same customer data multiple times just to invite a customer to apply. All email communication was drafted and sent manually, resulting in delays and inconsistencies in responding to customers. Teams were disconnected. Management lacked a way to monitor and report on applicants at a high level, which hindered their ability to make data-driven decisions.

The outdated onboarding process not only compromised the customer experience, but also limited the company’s ability to capitalize on growing demand. Realizing the need for a more efficient and streamlined solution, the client reached out to Tech Titan Consulting for a solution.

The Solution

Embracing integration and automation for a seamless credit application experience

We wanted to improve customer experience and operational efficiency, so we implemented technology for each step of the process. We introduced a one-click button for the sales team to invite prospects to apply. The customer’s application page gets pre-filled with information collected during the sales process. Once the customer completes the application, this new information is sent to Salesforce and tied to the rest of Lead data. Crucial but sensitive account details are encrypted and displayed to one team but hidden for all others.

We added email automation to inform the applicant of status changes and whether the client needed more information from them. We utilized Salesforce Cases and Chatter to track workloads and manage the application process, fostering better visibility and collaboration among teams. Team members could reach out to each other via Chatter Posts to collaborate.

Technology managed the process and responsibilities so that each team knew when it was their turn to take action. This improved accountability and overall efficiency for the back office processes.

The Results

Improving experiences by streamlining processes

The number of manual touchpoints in the application process was reduced by over half, freeing up the team to focus on higher-value tasks. Consistent email templates are sent automatically over thousands of times per month, charting the customer through the process. A small team is able to handle a growing number of applicants.

Moreover, the integrated system provided an additional layer of security for sensitive data. By ensuring that customer data was entered only once, encrypted, and stored in a centralized system, the solution minimized the risk of data breaches and helped maintain the confidentiality of the customer’s information.

The client experienced not only a dramatic increase in operational efficiency but also provided transparency to all parties and improved the customer experience. These improvements have positioned the client for future growth, enabling them to handle an increasing number of credit applications without compromising on efficiency or security.