How Digital Onboarding Will Improve Your Client Management

How Digital Onboarding Will Improve Client Management

Digital Onboarding

Gaining new clients is integral to the running of any business, however onboarding them can be a long process. If you have a smaller team and don’t have the resources or capacity for full-on compliance, client relationship, and business development then an online onboarding process may be for you. If you’re a little lost with the combination of Digital onboarding and tech then fear not, we’re here to help. Read on to find out why online processes will help you.

1. What Is Digital Onboarding?

Digital onboarding will take all of the hassles of the typical onboarding process and compress it into one easily useable, easily manageable digital system that will almost fully automate the way you bring in clients and sign them up.

When you sign up a new client, they will have to pass through an official onboarding process to ensure they are subscribed or signed up to your services. Depending on your business this can involve a variety of compliance checkpoints, service declarations, or terms of contracts.

You may have heard of onboarding when setting up new employees in your business, but if you’re in a client focussed area of work then you’ll also need to onboard your clients. This has traditionally always been done manually by either a team or an individual to sign up new customers or clients. However, with the rise of technology, there are more and more possibilities to incorporate digital onboarding into your business.

2. How Does It Work?

The aim is to sign up new clients in a speedy and easy fashion. Digital onboarding uses customer data, image verification, and biometrics to essentially say that the person signing up is who they claim to be. By uploading an image of a legal document such as a passport or driving license, then matching that up with a biometric image of the person or fingerprint and the personal data they have input, the system can verify that the person is legit.

Think of how smartphones and apps can use facial recognition to unlock your phone, it’s the same principle. If your work involves finance it is legally required for you to have this sort of authentication step in place. This includes banking and some online shopping. The data you collect can be used to tailor your services better for clients and have a greater understanding of who your clients are, and ultimately, better cater to your audience if needed.

3. What Are The Benefits?

Over the last few years, we have all become accustomed to spending more time inside, including working from home. This can pose difficulties when trying to arrange meetings with new and existing clients. By moving your business and it’s processes online, you can remove the need to meet face to face and instead conduct your business digitally. This will offer your client and yourself a quick, easy, and convenient onboarding.

If you had potential clients that are further afield or even overseas and couldn’t sign up for your services due to location, digital onboarding will break down barriers and allow you to work with people from all over the world. This means a wider client pool, greater sales, and a rise in success for your business.

By using technology, you can streamline your process to take mere minutes and use almost no manpower. This can significantly reduce your labor costs and leave your employees better placed to work in other areas of the company. It will also make your onboarding process much more compliant and accurate as it reduces any areas of human error.

Not only is there an omission of human error, but there is also an increased level of safety with digital onboarding. Programs have encryption layers that keep your client’s important data safe, such as credit card details, personal information, and private details. Not only that, your business information and services will also stay secure and protected. You’ll have no need for stacks of paper and filing cabinets if you move all of your client documentation online, which is save you space and money.

Whilst traditional onboarding has served a purpose over the years there is no denying that moving your process online has a huge number of benefits to both you and potential clients. By streamlining your onboarding, you will be able to save time, money, and manpower which will ultimately improve the well-being of your business. As long as you exercise due diligence and research into the service you buy into your company is sure to gain.

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