Automating the Quoting Process Using Salesforce (Case Study)
A major challenge faced by many companies in the Banking, Financial Services and Insurance (BFSI) sector is generating quotes seamlessly. Many organizations in this key sector of the economy use manual quoting processes. This results in frequent errors and low quoting efficiency, affecting their bottom line adversely. Financial organizations can overcome this problem by automating their quoting process effectively, using a robust tool. Today, we’ll see how Solunus enabled a leading insurance services provider to automate their quoting process by implementing Salesforce, helping it increase productivity and improve revenues considerably. About the Client The client is a world-leading provider of life insurance services, based in Brooklyn, NY. They have been serving more than 75 million customers in 130 countries. The company has an annual revenue of more than 40 billion USD. Project Overview The client approached us to develop a robust solution to automate their quoting process. The insurance company also wanted to resolve various problems resulting from the use of multiple applications and scale up their existing systems to meet growing business needs. Challenges Faced by the Client •
The client used a manual quoting process, and this was affecting their productivity badly
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They lacked standard quote templates, resulting in data inconsistencies
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The company used multiple systems, and this led to data integration problems
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Their existing systems could not cater to growing business requirements
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The customer was not able to accommodate frequent changes in the business environment
Solution Provided by Solunus