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Your Finance Company and the COVID Reward

By Juan Carlos González - Expediente Azul


By Juan Carlos González | Founder - Fri, 02/26/2021 - 09:19

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During the pandemic, some finance companies will fare well while others will struggle to survive. How will yours behave and where will it end up?

Past generations experienced abrupt technological and social changes. Today, as a result of the pandemic caused by the COVID-19 virus, we are experiencing confinement, global economic contraction and disruption in various industries.

Nothing lasts forever, and this too will pass. Both you and I know that financing will return, funding will continue and demand for capital will grow again. How can your finance company be ready for when this happens? The answer is by taking advantage of what the lockdown came to accelerate: the digital terrain for doing business.

Let's talk about how you and your team are saving hours today thanks to:

  • Less mobility
  • More effective work appointments thanks to virtuality
  • More digital conversations thanks to the growing availability of connected devices — think about how many hours you spend in front of a screen each day
  • More clients versed in virtual interaction

Previously, digital operations were viewed as a luxury. Today, digitalization is the key to survival for many businesses. Now that you have more available time, determine where will you invest it. You decide:

Option A

  • Looking for business opportunities: one by one, struggling to generate demand and sweating over every operational closure.
  • Integrating files manually, with your memory, post-its, mail, WeTransfer, Dropbox and other pieces of technology disjointed and with nothing designed for this purpose.
  • Paying and waiting for delivery when sending physically signed documents.
  • Making long and unprofitable phone calls.
  • Going back and forth between applications, requirements and forms filled out incorrectly.

Option B

  • Design a digital strategy that allows you to generate qualified online demand, with

less cost and less demand on your time (have you seen our content #SocialSelling?). I can assure you more commercial effectiveness post-COVID than pre-COVID.

  • Generate content for your company's digital channels and for your promoters’ social media, which will position you with a smaller investment than traditional sales.
  • Reduce origination costs by automating the integration of files, digitalizing signature collection and minimizing physical movements of people and paperwork.

It is time to optimize your entire business model starting with the expenses of your traditional operation: reduce them and maximize your results. Let's leave technology take care of routine and low-value activities. No more tossing around quotations and chasing documents; let your people focus on being valuable and appreciated advisors by your prospects.

Let´s work together to support your team by giving them the tools they need to transform their commercial activities. How? By leveraging your business processes and placing your financial operations in IT.

It’s normal to think that it’s expensive to digitalize marketing, automate onboarding and implement follow-up technology. It’s not:

  • A #SocialSelling strategy costs $0 while your funnel is small.
  • A software platform that automates document gathering and follow-up could cost as little as $100 each month.
  • Enabling CRM, automating drip campaigns and dashboards can be solved for $70 a month.
  • Auto-profiling a customer and linking webpage - CRM - document management platform starts at $1,000 and could cost $130 per month.

The most important factor to understand is that this investment can be done gradually, and the cash flow that each stage generates can and should be invested in the next one until all your commercial processes live in the cloud.

Prepare your finance company to operate systematically, digitally and automatically. The post-COVID era will reward you.

Photo by:   Juan Carlos González

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