Bankfield Project

“The solution enabled Banfield Protect to improve the effectiveness and measurement of new business development and client management.”

Ajay Naik, Managing Director of Bankfield Financial Services explains:

The Challenge

Bankfield Financial Services is a large, long-established Independent Financial Adviser (IFA), that specialises in providing professional and client-focused financial planning and wealth management to private individuals and businesses. Bankfield Protect is a sister company that offers personal and business insurance services, life assurance, alongside award-winning Vitality products and solutions.

Previously, Innovationers had developed a tailored solution for Bankfield Financial Services and the directors of the business required a CRM solution for Bankfield Protect.

Bankfield Protect consists of over ten remotely-based advisors who offer a variety of financial protection products to clients across the UK. The team were having difficult tracking telemarketing and promotional campaigns and required a solution that would manage them centrally.

The Solution

Innovationers spent time consulting with Bankfield Protect to fully understand all aspects of the business and then designed a bespoke, integrated IT solution consisting of:

The solution enabled Banfield Protect to improve the effectiveness and measurement of new business development and client management.

Ajay Naik continues:

“The solution enabled Bankfield Protect to improve the effectiveness and measurement of new business development and client management.

We now have a fully integrated sales process; from automated importing of new prospect data to closing the sale. We’ve been able to import all of our existing data into the CRM solution, providing us with a single-view of all prospect statuses. This proves invaluable for follow-ups, checking on progress and forecasting cash flow and revenue.

I can’t fault it! It’s second to none. We used to purchase large volumes of prospect data and it was down to each advisor to keep their individual spreadsheet updated, including conversations and follow-ups. Now all of their activity is recoded succinctly and consistently against each prospect, enabling us to check the current status at any point.

The CRM platform is also simplifying and automating the client management process and increasing up-sell opportunities. Having a single, comprehensive reference point for each client means we can easily identify opportunities.”

“We now have a fully integrated sales process; from automated importing of new prospect data to closing the sale. We’ve been able to import all of our existing data into the CM solution, providing us with a single-view of all prospect statuses. This proves invaluable for follow-ups, checking on progress and forecasting cash flow and revenues.

I can’t fault it! It’s second to none. We used to purchase large volumes of prospect data and it was down to each advisor to keep their individual spreadsheet updated, including conversations and follow-ups. Now all of their activity is recoded succinctly and consistently against each prospect, enabling us to check the current status at any point.”

“The CRM platform is also simplifying and automating the client management process and increasing up-sell opportunities.”

“Having a single, comprehensive reference point for each client means we can easily identify opportunities.

The Benefits

  • Single-view of every prospect’s position in the sales process
  • Automated prospect data entry
  • Clear signposting for up-selling opportunities
  • Easy way to track sales team’s activity and performance
  • Real-time view of revenues, cash flow and commissions
  • Flexible solution that will evolve in line with the business

Ajay summarises the success of the CRM solution:

It’s a really powerful solution that’s been customised to meet our exact needs. It’s making out business more efficient and our productivity has increased. We looked at other systems, but they weren’t as flexible or adaptable as the Innovationers solution, which can be adapted whenever our business changes or we have a new requirement.

Innovationers worked closely with our team to train, reassure and support them whilst demonstrating both the short and long-term benefits of the solutions they were implementing.

“We didn’t have a systematic prospecting and sales process in place, which made new business development all the more difficult. We were using Excel spreadsheets for collating prospect data, which involved a lot of time-consuming manual data entry and was prone to error. Once entered on the spreadsheet, there was no single-view available to track the progress of each prospect and monitor sales pipeline. With a fast-growing business, MI was becoming and important requirement and was being restricted by a lack of a system.”

Ajay Naik, Managing Director of Bankfield Financial Services explains:

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Innovationers

Innovationers are systems integration and project management specialists. We have worked with small and large companies, working with MDs, CEOs, Operations Directors and Marketing departments.