Client Relationships in Investment Management Companies

People buy from the people they like- It’s the plain truth! In any role in investment management, thinking about the client’s need is of utmost importance. Client relations in investment management are in high demand and multi-dimensional, investment management companies are constantly challenged to deliver responsive customer service across multiple communication channels. Bigger investment management companies might have made it within their years of legacy relationship with their customers but, one internal shakeup can have your clients start looking elsewhere.

Winning new clients is an ongoing grind and the more consistent your business development habits are, the more skilled your business becomes at earning and keeping clients for the long haul. So how do you establish client relationships and maintaining it? CRM for investment management companies help businesses meet their challenges and enables institutions to excel in areas of customer relationship management.

Why CRM Integrated Billing Automation Is a Game Changer

Apr 15, 2019

Creating business quotes and delivering invoices are a critical part of the sales process. When you are a medium sized business with pretty good inquiries and real sales happening, you would find it overwhelming to manage incoming invoices. Invoice management is essential and it will allow you to manage actual invoices which are generated as per quotation if it is finalized. A billing automation integrated software enables businesses to store all relevant information related to quotes and billing with the CRM software itself so that you can instantly generate quotes. Also, from the CRM you can send it to all relevant contacts and reach out to your customers before the competitors.

Create and Organize Quotes

With a CRM having integrated billing automation, easily create invoices which meet and satisfy your customer expectation. With automated bill creation, you can create and share a large number of custom invoices for satisfied customer responses. It not only helps in creating invoices, but editing invoices are also possible. Once done you can directly send the billing invoice to clients mail id or save the invoice as a PDF or print it right from the screen. Invoices are stored in a secure environment with history and advanced search feature. CRM billing software makes it easy to manage and automate the creation of customized business invoices for customers. It facilitates a systematic process of creating customer quotes to achieve business success.

Manage Subscriptions

With billing automation, you can view customer subscription histories in CRM. The info automatically gets updated and shows up in widget present in the contact page. You can also set auto reminders for subscription renewals ensuring fast and efficient payment by customers. When subscription management contracts are about to expire, the subscription management system in the CRM automatically sends a reminder email notifying customers about pending renewals or delayed payment. You can also bill your customers on a recurring basis automatically to lessen payment declines and to optimize customer lifecycle.

Make Changes on the Fly

CRM enabled billing automation allows you to quickly upgrade, make a change, send reminders for subscription renewal, check which subscriptions are about to expire, integrate with the credit card for autoprocessing on the go. If you don’t use CRM solution, you end up sending large files to customers via email. With efficient billing automation software, it is easy to recreate permission-based folders on safe and secure services to allow clients to access on demand for their billing documents. By connecting several complex systems, individual processes and overhead created by those can be significantly reduced. Right from creating the quote to collecting payment, enterprises can save time and ease up the process by integrated the most used systems and software.

Online Payment Integration

Customers expect fast, secure and flexible payment options which makes it convenient for them to pay for goods and services. With the right CRM solution integrated with billing automation, you can allow customers to pay in different ways. By integrating different online payment methods, you can easily generate sales invoice directly from the payment details. This will automatically transfer the payment related info to the sales invoice. With this, your customers need not have to contact you every time to pay for a recurring service. Upon payment, receipts will be automatically sent to customers with the alert notifying about the status of the payment.

Boost ROI

For small to medium businesses which provide products and services, time is literally money. Not only small businesses, for all businesses, saving on time for basic operations saves a lot of effort, time and cost associated with it. Fully integrated billing software provides a higher ROI for your business by providing a single easy to use and intuitive portal to manage everything associated with billing and quotes. For every business, chasing payment and manual billing activities is the major time frustration which keeps them away from revenue-generating operations. Automated billing and creating quote can net a positive ROI quickly based on saving time.

Real-Time Loyalty and Membership Management

Billing automation not only helps businesses with managing invoices but also to set real-time loyalty and reward for customers. CRM integrated billing systems allow business to acquire and retain customers by facilitating and automating the implementation of consistent management of reward based loyalty schemes. Additionally, it helps to define membership types and discount levels based on transaction value. Also, these loyalty program points and awards will automatically be integrated into the system, no matter from what all channels the transaction is done.

Conclusion

You send bills to your customers and then they pay you. That’s exactly why your billing process needs to very quick and efficient. Ultimately, the quicker you are in generating invoices to customers and clients, faster your business will get paid, it will have a positive impact on your revenue. Delays in payments can put businesses at a stake and that is why every business needs to have a CRM integrated billing automation to keep the invoice process well managed. A cloud-based billing software easily supports services billed on a recurring basis as well as discounts, renewals etc.

Start automating your billing process with Second CRM