When you acquire a new client, it is important to make sure that their interaction with your organization is as enriching and effortless as possible. If it takes a lot of time in their onboarding with your organization, or involves a lot of hassles, it will be harmful for your organization’s branding and PR. A disgruntled client can mean loss of a lot of business. Thus, it is very important to ensure smooth client onboarding.

The current client onboarding process is mostly paper or email based. Efficient or streamlined are not the words that come to mind when we think of paper or email based approach to a process. When a new client is acquired, an employee has to be assigned as their single point of contact. Onboarding also involves a lot of documentation and can get hectic if not done properly. Automation improves the efficiency of the process by removing bottlenecks and automating repetitive tasks. It does not replace human effort, instead it supports and enhances human effort by providing a better coordination channel. Below, we discuss the benefits that automation offers

1. Process that makes clients believe in you

Let’s admit it- no one likes filling up paper forms. In a world where people are used to typing, filling up a paper form seems like a lot of effort. Now imagine giving your clients a heap of paper forms to fill after pitching to them “How technologically advanced your organization is!” If we look past this issue, there comes the problem of data migration and maintaining data integrity. When data is migrated manually, chances of human error seeping in the process increase. Also, data is not standardised and it is hard to fetch latest data. Automation solves this by providing simple, customizable forms with its modules. These forms are simple to fill and comprehensive. Also, once filled, they are automatically forwarded to the next stage without the need for any manual effort. This helps make the process easier for both the client as well as your employees.

2. Automated and empowered data

Once client onboarding has begun, it is important to make sure that the incoming data is properly organized. With paper and email based processes, this involves manually migrating data from paper or digitized forms to large spreadsheets. This is time taking and also prone to errors. Automation provides a solution by organising data captured from the forms automatically. Also, this data is available in real time making reviews easier and more efficient. Data in an standardised form is extremely useful for any business process.

3. Real time tracking of task progress

At present, almost all business processes have no tracking mechanism other than repeated, manual follow-ups and we do not need to tell you inefficient it is. Client onboarding is no different in this regard. Once a new client is acquired and onboarding process has been initiated, an admin has no means of tracking task progress other than manually following up with the people involved. While this wastes time, it is not the biggest disadvantage of not having a task tracking mechanism. The main disadvantage is that there is no way to identify bottlenecks or redundancies. When you automate this process, you get access to an inbuilt task tracking mechanism that helps organizations identify and remove any bottlenecks. It also helps you successfully implement automation by identifying redundant steps of the process so that you can automate them. Along with tracking, you get access to task specific communication channels that remove the need for emails or phone calls as a communication medium. These channels are task specific and are secured by access level of protocols.

4. Background checks on prospective clients

It is good news when you get a new client, but not always. What if your new client has a history of defaulting on his payments? Or the person you had your meeting with might be working with a shell company? There are numerous other issues that can make acquiring a new client a bad decision. This is why it is important to perform background checks prior to client onboarding. When you automate this process, it becomes easy to assign a background check task before initiating onboarding. If you have engagements with multiple background agencies, you can integrate this workflow with IBISM’s background check module to easily manage different agencies and the data they provide. This way, you can ensure that you acquire good clients with potential for repeat business without having to worry about their credentials etc.

Acquiring a new client is an indication that you are doing something right regarding your business processes. However, if a new client has a bad first experience during onboarding, that can be harmful to your brand image. It is important to convert leads into clients, but it is equally important to convert clients to repeated customers. Automation helps you make this leap effortlessly. If you want to know what else automation can do for your business, you can contact us. We will be happy to answer all your queries and also provide you with a free demo.

Published on May 22, 2018