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What should financial services companies turn to in 2023: Dynamics 365 is the answer!

If you are a financial services company and are looking to provide better visibility to both your customers and within the different departments of your business, then you should consider Dynamics 365. 

Why I hear you ask? Here are a number of advantages of doing just so: 

The automation and streamlining of business processes 

One of the core advantages of Dynamics 365 for financial services firms is the fact that you can both automate & streamline business processes. This can help to boost efficiency as well as to improve the productivity of your team.  

To put this into context in the form of an example, say you work in investment management, Dynamics 365 can come in and automate the creation of a new account. Therefore, your customers can complete this online which not only saves time but also stops you needing to keep paper records.  

As well as this, you can take it one step further as Dynamics 365 could help you to automate the account management process in itself to complete tasks such as adding account information, producing reports and much, much more.  

For the insurance industry, Dynamics 365 is perfect for helping to automate the policy application and underwriting process. This will ensure that the approval process is faster than before and help to improve the overall customer experience. Furthermore, you can also use Dynamics 365 to fully automate the claims process again being able to track the status of a claim, add extra customer information and create suitable reports.  

Game changing data management functionality 

Another significant advantage of financial services companies using Dynamics 365 is the fact that it also has innovative data management functionality. This enables the platform to store and manage customer data, which will allow better decisions to be made based on accurate data.  

To put this into context in the form of an example, Dynamics 365 can hold transaction history data & customer information which can then be analysed to reveal any upcoming trends or changes in buyer behaviour. This will make it easier for financial services companies to make reliable data-driven decisions to allow them to provide their customers with the best possible value as well as to mitigate any associated risks. 

To add to this, Dynamics 365 can provide you with more advanced analytics and reporting functionality that can enable companies to highlight new opportunities as well as to boost performance. 

Connect better with your customers 

This is where Dynamics 365 can excel for financial services companies as the platform can be used to send out highly tailored marketing campaigns as well as providing tailored products/services to customers. 

To put this into context with an example, Dynamics 365 can help you to split out your customers into different marketing lists based on their specific behaviours and then from this you are able to create a tailored marketing campaign for each list. As well as this, Dynamics 365 enables you to track all the engagements that customers have with your marketing campaigns, enabling any financial services company to adjust campaigns based on personal preferences. From this, you will be able to establish how your marketing campaigns are being received by your customers and identify areas for improvement.  

Moreover, the platform can help you to automate parts of the marketing process such as emails and social media posting which can free up your time to work on other tasks within your marketing department. 

Seamless integration with other business systems 

Another advantage of Dynamics 365 for financial service companies is the fact that it can easily work with other systems such as financial and accounting systems. This means that operations can become more streamlined as well as any errors in data greatly reduced. If you want to explore this even further, you can also take advantage of Dynamics 365’s web portal which can allow customers to access and update their information whenever they need to.  

Fully customisable 

Dynamics 365 can be easily customised to meet the specific requirements of your financial services company. The platform offers a whole host of options that can help to extend the functionality of your system to drive performance to the next level. This makes it really flexible in the sense that it can be adjusted depending on what you need now and in the future across different industries. 

Next Steps? 

If you are a business that is operating in the financial services industry and is looking to take advantage of Microsoft Dynamics for Financial Services then please do call our team of Dynamics 365 experts now to discuss how we can help drive change in your business. 

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