What’s Next For the Financial Sector?
The financial sector is next in line for a technology revolution. Replacing outdated, legacy systems with modern technology is the key focus for many businesses in the financial industry. However, what’s really next for this business sector? That may depend on who you ask, so here’s a few sneak peeks at the potential future for Wall Street.
Several industry leaders shared their thoughts about the future for the financial sector in “We asked some of the smartest minds in finance how Wall Street is going to change – this is what they said,” posted by Tina Wadhwa on BusinessInsider.com. Debra Walton, chief product and content officer at Thomson Reuters suggests that blockchain could be as revolutionary as the internet was during the 1990s. David Reilly, CTO at Bank of America, suggests that advances in automation will change the way that property is insured, money is invested and how financial services professionals work each day. Automation improves how professionals deliver value and how financial businesses differentiate from the competition. Sean Park, founder, chairman and CIO of Anthemis Group, suggests that mobile computing, big data and machine learning will transform the finance industry.
Begin a Technology Transformation with ERP and CRM
Financial professionals, wealth managers and banks can begin a technology transformation by replacing outdated software with more modern solutions, including an enterprise resource planning (ERP) solution and a customer relationship management (CRM) solution. An ERP solution provides a powerful platform for managing common day-to-day operations, including accounting and financial processes, analytics and human capital management. Many ERP solutions also offer mobility, the ability to access data while meeting at a client’s office or working remotely. Built-in workflows add consistency and accuracy to common daily tasks and improve the productivity of front-line employees. The time saved by replacing manual processes and paperwork with these automations can be dedicated to other strategic activities and customer services.
A CRM solution similarly streamlines marketing and advertising activities and provides a centralized location for customer-centric data. Sales and customer services teams are able to respond faster to customer needs when they have instant access to customer information, such as banking or investing preferences, risk tolerances, interaction and communication details and product histories.
Transform your business with technology that digitizes and automates services, offers mobility, and delivers a seamless customer experience. Contact AKA Enterprise Solutions for more information about using ERP and CRM to strengthen operations as the financial sector changes during this technology revolution.
By AKA Enterprise Solutions, a Microsoft Dynamics CRM and ERP Partner for Financial Services