NO CODE CASE STUDY: ASSET MANAGEMENT
Digitally transforming asset management product sales processes
First Metro Asset Management, Inc. (FAMI) uses Steer to build flexible digital solutions that fit the exact needs of the organization and accelerate effectiveness and productivity of asset management/financial product sales processes
KEY POINTS
> FAMI engages in the mutual fund business and promotes savings mobilization, and advocates investment literacy among Filipinos
> A key initiative for FAMI was to improve sales processes and to veer away from manual data encoding into spreadsheets that cause inefficiencies
> In a matter of days, FAMI was able to create their own lead management app for the sales team to use in tracking the progression of their leads
> This provided better visibility on leads and improved data accuracy and security
Leveling up sales processes in an asset management company
FAMI is an asset management company that engages in the mutual fund business. It advocates savings mobilization and promotes investment literacy among Filipinos. FAMI creates innovative investment solutions and provides exceptional customer experience with the aim to transform Filipinos from savers to investors.
The Process Before Using Steer
"Prior to using Steer, FAMI's transactions were manual and were dependent on spreadsheets", shared FAMI Head of Sales Shiela Limon. Manual interventions were also heavily needed in consolidating data. This, in turn, resulted in errors incurred in the manual encoding of information that also led to inefficiencies in terms of verification and transmission to internal or third-party systems.
The Key Business Challenge
"We in FAMI are looking to lessen or completely remove lapses in client servicing such as delayed booking of investments and redemption by going digital," Shiela shares. The organization is looking to have a system or recourses to manual processing for a lot of its transactions such as handling and fund booking that would significantly improve sales and other processes, enable cost savings, and provide greater reach for the organization for its fund distribution, access, and advocacy
How Steer Helped
FAMI essentially started by automating its sales lead management process by creating an app on Steer. Account managers log in to Steer and fill out a form on customer information. As the lead progresses, they move the lead to the next status up until it is closed. With this, reporting is consolidated and flexible. They can create as many reports as needed. Managers also have a dashboard where they can have visuals on where the leads are in the pipeline.
"We like Steer for its agility to provide solutions that are fit for our organization in every step of the sales journey," Shiela expressed. "With Steer in place, we’re looking at creating solutions for payroll, attendance, expense reports, and other manual processes," she added.