Yet another choice, Salesforce is another popular CRM software. Salesforce offers four different versions ranging in price from $25 per user per month to $300 per user per month. Their small business version has some customer support features and is customizable with add-in features and data integration with calendar and email support. Workflow management and employee activity reports can be added at an additional cost.
Advisors Assistant offers a CRM software that includes comprehensive workflow management and reporting capabilities with its contact management, calendaring and email capabilities. They offer several different versions and various modules and download services to tailor it to fit the firm’s needs. Their web-based version runs from $39/month per user to $125/month for 10 users. There is a one-time set-up fee of $50. They also have a mobile app add-on for $5/month for one device and $2/month for each additional device.
Obviously, there are many more choices available. The key to choosing the best platform for your firm is to investigate the options, take advantage of the free trials (where available) and talk to other users. There is a tendency to attend a conference where these companies are represented and choose the latest, supposedly greatest software. However, this can often lead to confusion, delays in learning and populating the software with data, and disgruntled employees who might be charged with the conversion work only to later discover that it was the wrong fit for the firm.
The end goal is to create a methodology for documenting employee activities and client service work combined with a method of assessing the employees work while avoiding micro-management. This, in turn, can provide a way for the firm to grow without the necessity of hiring more people and/or spending more money. The end result should be a more efficient and profitable financial practice with a more harmonious office environment for employees and clients.
David L. Lawrence is founder and president of EfficientPractice.com, a consulting firm that provides financial practices, broker dealers and independent firms with comprehensive, profit-driven efficiency consulting and resources. He is also the author of The Efficient Practice: Transform and Optimize Your Financial Practice for Greater Profits and Success (Wiley).