Before introducing technical means to improve your customer management, IB management, and workflow management, brokers will first encounter such a multiple-choice question: buy a financial CRM system or develop it yourself?
Using your own financial CRM system you may be very happy, but first, ask yourself two questions:
- Do you have a technical team that understands the business?
- Do you have enough development time?
- It usually takes at least 3-6 months to develop a complete financial CRM system.
If your technical team is not familiar enough with business logic, it may take longer to modify the financial CRM system. The cost of raising a group of technicians is also a factor you should consider.
Due to the large scale of the organization and the relatively stable business, the large brokerages have sufficient time and money.
At the same time, they also have professional technical personnel to do technical things, so they have the ability to develop their own Financial CRM system.
But for small and medium-sized brokerages, it is imperative to achieve business growth rather than developing a perfect financial CRM system. Therefore, the purchase of financial CRM system has become the best choice for them.
If you choose to purchase a financial CRM system, there are three issues to consider:
- How much is your budget?
- How high is your requirement for matching products?
- How high are your performance requirements?
According to the degree of product matching and the budget, brokers have the following options:
If the financial CRM system provided by the service provider fully meets your needs, you can use the generic version of the SaaS service.
SaaS CRM systems usually pay by the month, quarter, year, or by a number of users. The docking is fast and the cost is low, which can help brokers to start a business quickly.
Many times, the financial CRM system already on the market does not fully meet your needs.
If the broker has already selected a financial CRM system and wants to add certain features to the system, then you can choose custom development.
Custom development requires an extra charge, so brokers must have sufficient budget.
When you don't want to start completely new and have high requirements for product matching, you can choose to purchase the API of the financial CRM system and then develop it yourself.
Of course, you must have a professional technical team to achieve that.
Brokers with high-performance requirements can choose a private cloud or privatized deployment, but at a higher cost than the generic SaaS service.
After learning about so many financial CRM solutions, which one do you think is best for you?