Salesforce Superpowers For Investment Firms: Strategies Unveiled

Investment firms use Salesforce to streamline their operations and deliver exceptional customer service. Salesforce offers a connected platform that allows investment firms to intelligently handle their sales, engage with customers effectively, and streamline their business operations while adhering to strict industry regulations.

Salesforce's Financial Services Cloud is a specialized CRM platform tailored for the financial services industry, including investment firms. It offers tools and features designed to help investment firms effectively manage customer relationships, streamline operations, and ensure regulatory compliance. With features like client profiles, financial goal tracking, and integrated analytics, investment firms can deliver personalized services, make data-driven decisions, and navigate complex industry regulations.

Salesforce also provides benefits such as centralized data management, platform flexibility, security and compliance, precise forecasts, team collaboration, data analysis and visualization, and integration with third-party tools. These features make Salesforce a powerful tool for investment firms to enhance their operations and gain a competitive edge in the market.

Investment firms use Salesforce to improve client relationship management

The Financial Services Cloud offers various features such as client profiles, financial goal tracking, and integrated analytics, empowering investment professionals to deliver personalized services and make data-driven decisions. It also enables them to access comprehensive client profiles, track interactions, and provide tailored investment advice, strengthening client relationships.

Salesforce's centralized data management provides a unified view of business data, eliminating data duplication and allowing for personalized offerings. The platform's flexibility allows for customization to meet the unique needs of investment firms, simplifying system scaling. Additionally, Salesforce prioritizes security and regulatory compliance, protecting corporate and client data with features like health checks and multi-factor authentication.

Salesforce also enhances collaboration among teams, enabling efficient information sharing and seamless coordination. Its data analytics capabilities provide valuable insights into market trends and client preferences, allowing investment firms to optimize their investment strategies. The integration with third-party tools further extends the functionality of Salesforce, allowing easy access to market data, research, and trading platforms.

By utilizing Salesforce, investment firms can improve client relationship management, make informed decisions, streamline operations, and ultimately provide exceptional service while remaining competitive and compliant in the industry.

Salesforce helps firms automate key business processes

For example, Ulster Bank used Salesforce to automate the loan application process. Customers could log into a Salesforce Communities portal, answer a few questions, and then immediately receive an auto-generated loan document. This improved the customer experience and reduced the administrative burden on the bank.

Mascoma Bank is another example of a financial institution that utilized Salesforce to automate banking processes such as application form submission and document requests, resulting in increased efficiency.

Additionally, Salesforce's App Exchange provides access to over 4,000 compatible add-on products, including virtual document signing, advanced search capabilities, and PDF portfolio generation. These add-ons can further streamline processes and enhance the functionality of the Salesforce platform without requiring extensive coding.

Salesforce also offers integration with third-party tools, allowing investment firms to access market data, research, and trading platforms. This integration ensures a seamless flow of information between different systems, improving operational efficiency and enabling better decision-making.

By leveraging the automation capabilities of Salesforce, investment firms can streamline their operations, reduce manual tasks, and focus more on serving their clients' needs.

The platform enables seamless third-party integrations

Investment firms can leverage Salesforce's seamless third-party integrations to enhance their capabilities and improve operational efficiency. The Salesforce App Exchange provides access to a vast ecosystem of compatible add-on products, allowing for extended functionality without the need for extensive custom coding.

For example, investment firms can integrate with third-party tools for market data, research, and trading platforms, enabling them to access critical information and execute trades efficiently. Additionally, Salesforce's integration capabilities enable firms to connect with commonly used systems such as SharePoint Online, Google Cloud, Teams, and Slack. This streamlines their operations by reducing the time spent switching between different software platforms.

Salesforce's seamless third-party integrations also extend to document management. For instance, S-Docs, a 100% native document generation and e-signature solution, automates the creation and distribution of financial documents, ensuring data security and compliance.

Moreover, Salesforce's MuleSoft AnyPoint Platform enables investment firms to connect multiple systems across their internal, partner, and vendor networks. This facilitates the seamless distribution of their products through various digital platforms, enhancing their reach and customer engagement.

The flexibility and ease of integration that Salesforce offers empower investment firms to customize their technology stack and streamline their processes, ultimately improving their overall efficiency and competitiveness in the market.

It provides a single, unified view of business data

Investment firms can benefit from using Salesforce as it provides a single, unified view of business data. This means that investment firms can gain immediate access to all their relevant business data in one place, eliminating the need to duplicate client data across multiple systems. This feature is known as centralized data management, and it offers several advantages for investment firms.

Firstly, centralized data management improves efficiency by providing quick and easy access to information. Investment professionals can instantly view client profiles, track interactions, and access data relevant to investment decisions. This streamlines the process of managing client relationships and enables more personalized offerings.

Secondly, having a unified view of data helps investment firms to make more informed decisions. By consolidating data from various sources, investment firms can analyze trends, identify risks and opportunities, and make data-driven choices. This includes predicting future income, assessing the performance of assets, and optimizing investment strategies.

Additionally, centralized data management facilitates collaboration and coordination among teams. With all data accessible on one platform, different departments and teams can work together effectively, sharing insights and ensuring consistent client experiences. This improves forecasting and can lead to increased revenue growth.

Furthermore, having a single source of data improves security and compliance. Salesforce's robust security features protect corporate and client data, ensuring that only authorized users can access sensitive information. This helps investment firms maintain regulatory compliance and mitigate security risks.

In summary, Salesforce's ability to provide a single, unified view of business data empowers investment firms to streamline operations, make informed decisions, enhance collaboration, and maintain security and compliance. By consolidating data, investment firms can improve efficiency, gain insights, and ultimately make better choices to benefit their clients and their business.

Salesforce's security features protect corporate and client data

Salesforce is a powerful customer relationship management (CRM) platform that has been widely adopted by financial services organisations, including investment firms. The platform offers a range of tools and features that cater to the unique needs of these businesses, helping them to streamline their operations, enhance client engagement, and ensure compliance with strict industry regulations.

One of the key advantages of Salesforce for financial services is its robust security features, which protect corporate and client data. Here's how:

Layers of Security

Salesforce provides a comprehensive and flexible data security model with three layers of security: object-level, field-level, and record-level security. This allows administrators to control access to different types of data within the platform.

• Object-level security: This layer verifies that a user has permission to access certain types of objects, such as accounts, contacts, or opportunities. Object-level access can be managed through profiles and permission sets.
• Field-level security: Even if a user has access to objects, administrators can further control access to individual fields within each object. They can grant read and write permissions or completely hide specific fields from certain users.
• Record-level security: This layer allows administrators to control access to individual records within objects. For example, a sales executive may only be able to access the records that they own or have created themselves.

Permission Sets and Groups

Salesforce recommends using permission sets as the primary way to assign object and field-level permissions. Permission sets offer more flexibility than profiles, as multiple permission sets can be assigned to a single user. This allows for a more granular approach to security, where functionality can be grouped in more specific ways. Permission sets can also be grouped into permission set groups, making it easier to manage and assign multiple permission sets to users.

Sharing Tools

In addition to the three layers of security, Salesforce provides sharing tools that allow secure access to data based on business needs. There are five types of record-level sharing in Salesforce:

• Organisation-wide defaults: Control the default behaviour of how records are accessed by users who do not own the record.
• Role hierarchies: Allow users higher in the hierarchy to access records owned by users below them.
• Sharing rules: Provide a way to share records laterally or in an ad-hoc fashion via public groups.
• Manual sharing: Allow owners of records to manually share individual records with other users.
• Apex-based sharing: Used when records cannot be shared via the user interface or settings, requiring custom Apex code.

Security Health Checks and Multi-Factor Authentication

Salesforce prioritises security and regulatory compliance by integrating security measures into every aspect of its system. This includes security health checks, which allow administrators to regularly perform system audits and inspections, and multi-factor authentication, which adds an extra layer of protection for corporate and client data.

Frequently asked questions