Could electronic applications be the key?

keyIn this series of blog posts we are talking about onboarding customers. We believe that the customer’s experience should be considered a key strategy in elevating your company above the competition. The onboarding approach is a critical component of this strategy, as a special onboarding experience cements your relationship with the client’s.

We specifically concentrate on the electronic application approach in this blog post. Although electronic submissions are very similar to the old-fashioned written application form, they are definitely one step forward in the right direction. Back in the day when electronic submissions were first invented, we briefly had raving fan clients.Even though clients still need to go to an office or branch, it is no longer required to fill in a form by hand. Somebody will come to meet the new client and start the conversation with the usual small talk. He/she will then swiftly change gears and start asking the same questions that were on the printed application form. And sitting across a client liaison officer who proceeds to record all the answers on a computer or laptop, is great. Someone takes the time to talk to the client, who felt important and enjoyed the interaction, especially because the faceless World Wide Web may soon cause the extinction of all human contact. The client relationship has started on a much better note, as there is now a person who can be contacted if need be.

Once all the answers were recorded, the system verifies the data automatically. Here we have leapt forward in giant strides, as the any incorrect information can be recalled and corrected while the client is still present. Supporting documents may still need to be handed in, but the entire onboarding time is easily halved.

The IT system now handles the verification process and has to be flexible enough to allow for custom configuration. This ensures a pleasing onboarding flow, where the client is engaged in the process. With the reduced waiting period there is a much bigger possibility of leveraging the buyer’s excitement.

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