icon uk logo

Transforming 

Customer-Centric Communications

How can I grow sales without increasing the risk of fraud?

In every organisation there is a balance that must be struck between client user experience, transacting business and fraud. And because fraud is, quite rightly, a key concern some onerous and long-winded manual processes have been introduced into business for key activities such as onboarding and contract completion.

However demanding customers have even greater expectations, choice, convenience, speed and security. If you’re not responding to these demands you can expect to lose business to your competitors that are. In the competitive battleground of financial services, retail energy, pharmaceutical and other sectors that are heavily regulated, ensuring compliance within business processes that enable enjoyable one-stop human interactions is a source of competitive advantage.

Typical sales goals are therefore unsurprisingly focussed around: -

There are affordable tools now available that can assist businesses to reach these goals without breaking the budget or compromising security. With the use of smart technologies it is not uncommon to very quickly see like-for-like improvements of : -

In short, you can now transact more business, more quickly and more securely without increasing headcount.

Looking at just one example, the typical timeline in a regulated new client acquistion transaction. You may recognise the steps below which typically mean a four to eight-week cycle.

Sales Activities.png

Traditional processes often use a disjointed mix of different digital and paper processes.

But if smart tools are used with similar processes, this can to considerably shorten the time-line, without cutting any corners or increasing exposure to fraud (in fact strengthening organisational capabilities). Compare the timeline below - shown in DAYS not Weeks:

Sales Activities Improvement.png

But how do these smart tools work? There is no single 'magic solution'. It's about selecting the right combination of technologies from compatible and easily configured functionalities within a platform matched to the processes, according to what the environment is already and the business context and aspriations.

For the example above, we would consider smart technologies such as integrated online meeting and digital office platforms, document scanning via web-cam/mobile, real-time identification checks, templated dynamic document creation, eSigning   - all supported by AI and MCL assistance for ease and speed of use, with full or partial recording of all meeting elements as required by compliance guidelines (and reduces note-taking burdens). Where end-to-end journey design can be improved, these tools enable slick and seamless client engagement. 

This delivers more than the immediate saving in time. Benefits include:

We can assist with the right choices, project scoping, design, tools, support and a lot more. As a first step to seeing if you could benefit, try plugging your organisation's numbers into this simple travel-oriented Return on Investment Calculator to illustrate part of the savings.         

 Calculator.png

A modest investment in further analysis could both improve sales without increasing risk exposures and improve the customer user experience. 

Alternatively, if you are ready, contact us to discuss further. Working with you to answer your most pressing digital improvement questions and exploring the investment case will enable you to the opportunity scope for immediately taking advantage of these technologies and the scale of the financial case.

CONTACT US

Industry and Business News

arrow ICO issues Video Conferencing Guidance
arrow Know the right QES-tion? .
arrow What type of Face-to-Face Meetings are best?
arrow Electronic Execution of Documents - Law Commission Report Summary
arrow Advisors - want extra profits? Well, the £64,000 question is...
More...

Product and Company News

arrow COVID-19 Response: Helping remote workers to get their documents signed
arrow Lifecycle Interaction Platform - Crisis Response (LIP-CRS)
arrow Icon co-sponsors Digital Integration in Wealth Management 2018
arrow SuiteBox integrates with XPLAN .
arrow Icon UK brings superior SaaS solution, SuiteBox, to the UK market
More...

 

Accreditation & Memberships include:
tech uk logo croppedCCS SupplierIBMSAPaiimBiometrics Institute transparentCyber Exchange Member TVCC-Member-logo-2017.png

Connect with IconUK

         

     iconUKon Google+

 Sectors
About Iconuk
Contact Us

+44 (0)203 150 1081

    Please click above to request a callback

© icon uk Ltd 2020           Terms & Conditions | Privacy Policy | Site Map | Contact Us | Careers | Site Usability

Powered by Intergage