MarketForce top new feature : built-in quotation calculators for Financial Service Providers

At MarketForce, we are always at work to create the most comprehensive field sales automation platform so that our customers can have all they need to sell, in one integrated solution, rather than having to move back and forth between different apps and systems.

Last month, we introduced you to MarketForce One, our New Age Sales Force Automation Solution for Financial Services. This month, we want to present to you the newest MarketForce features for Financial Services companies: real-time quotation calculators directly embedded into our solution.

All our new product developments are implemented and perfected based on the direct feedback of our customers, including leading banks, credit companies, and insurance firms. This means that they solve real problems and speak directly to needs and challenges that are familiar to many players in the same sector.

Why built-in quotation calculators

Picture this. One of your field agents, let’s call him Samuel, is visiting a potential customer, let’s call her Judy, who is interested in a logbook loan. Before moving forward, Judy wants to know what are the monthly instalments she will have to pay. What does Samuel do? Open his laptop and search for the Excel document with the installment calculation sheet? Or worse, does he have to tell Judy that he will get back to her with the installment value once he gets back to the office, meaning that Judy has to wait and Samuel will lose momentum and slow down the sales cycle? The later is the most common case.

This is a very familiar story in the world of field sales for financial services. Thanks to MarketForce, this story is changing. Now quotation calculators are a built-in module in the MarketForce app, so your field sales agents can calculate loan or insurance installments and premiums on the spot, while talking to their leads, in a matter of seconds.

The feature

The brand new MarketForce Calculators module enables you to build your own customized quotation calculator/s inside the MarketForce platform. How? The process is easy. You give us your formulas, explain what you need, and we implement it on your MarketForce account. The calculator is ready to use. Your agents will find it in the dedicated module in both the MarketForce web portal and the MarketForce field app. Every time a prospective customer asks for an accurate quotation, the agents will only have to go to the Calculators module, insert the amount, and the system will immediately calculate the installment, the premium, and any other relevant value that you want to communicate to your customers.

The possibilities are endless:

• Tailor-made. We can embed any kind of loan, mortgage, or insurance calculator into MarketForce. You show us what you have in Excel or in other stand-alone tools, and we transfer it into MarketForce.
• Flexible. You can have as many calculators as you need, for different products or regions. Each calculator can support different product variants, terms, conditions, and add-ons. Finally, you choose which results should be seen, including installments, total premiums, and more.
• Secure. Your company’s users are the only ones who can see your calculators, so there’s no risk that sensitive company data is seen from users outside your business.

MarketForce Built-in Calculators VS Traditional Excel Calculators

Here’s why having a loan or insurance calculator embedded in your sales automation solution is better than using a stand-alone calculator, built on Excel or similar tools:

• Shorter sales cycle: with a built-in calculator that can be used directly from the MarketForce app, your field agents can immediately answer the question: “How much will I have to pay for each installment?”. This means that the lead doesn’t have to wait anymore to know such crucial information, and with only a few clicks the sales conversation becomes much more meaningful. The lead-to-customer conversion process becomes shorter and easier, and the agents can leverage the momentum when the conversation is hot. Also the risk that the lead would talk to competitors while waiting for the quotation to come is diminished. In a matter of seconds, your agents are much closer to closing the deal.
• Increased efficiency: now that your field agents have an intuitive and user-friendly calculator just right into the same app that they also use for prospect and lead management, work planning, and sales conversion, their everyday work becomes smoother and more efficient. They can work smarter. They spend less time on a lead, but that time spent is now more valuable. This means that they now can visit more prospects and leads in the same day and eliminate frustrations due to having to do back and forth between different systems. Finally, as they can communicate the quotation right on the spot, they have less things to do once they get back home or to the office, and they don’t risk to forget to follow up with their leads.
• Better customer experience: a more efficient service and a more effective conversation mean also making your customer happier. You’re telling then that you know their time is precious and you value it. You’re telling them that you know that it is unpleasant having to wait for the agent to move from one system to another, or from a device to another, or worse to wait that he comes back to the office in order to receive the quotation. With a built-in real-time calculator, you’re giving them exactly the information they want when they want them. Your prospective customers will have a more pleasant experience, which not only makes them more likely to buy from you, but also transform them into your advocates, which will refer your company to anyone looking for a loan, a mortgage, or an insurance.