Understand What Capabilities You Need in a CRM
Sometimes Outlook can be fine, but in many cases you might be missing an opportunity in workflow. --Dan Skiles
Advisors need to thoroughly understand what capabilities they're looking for in a CRM, Dan Skiles says. Otherwise they may purchase a solution that doesn't work for them. They must also know what their firm's internal technological abilities are in order to maintain the system. Even then, advisors should realize that some degree of customization will be necessary. "Some advisors like desktop applications because that means they control the data in office, and it's part of their own infrastructure," Skiles says. "While others like a web-based." Smaller practices may not necessarily need the most sophisticated CRM system. While rudimentary, Outlook may serve some offices well – to a point."Sometimes Outlook can be fine, but in many cases you might be missing an opportunity in workflow," says Skiles.
-Dan Skiles, vice president of technology with Schwab Institutional, in The Power of CRM
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