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  • Writer's pictureSsemujju Lewis E

What Fintechs Need To Consider When Choosing A CRM Software

Updated: Jan 22, 2023

Choosing the right CRM tool might sound hectic, but you will know the right one for your business with the guidelines below.


1. Make out and recognize your business needs

What do you need? It would be best if you understood your business needs to choose the right CRM tool that fits your Fintech profile and portfolio.


2. Tools and the features you want to include in your CRM

Point out the features you need to have in your CRM, depending on your business needs. However, the standard features across all CRM tools include; marketing automation, lead tracking and management (suitable for sales and marketing teams), contact management, task management, project management, third-party integration, customer data management, sales management, workflow automation, and many others.


Check your features for customer-centricity, cost, and ease of integration with other tools.



3. Ease of mobility

In the current era of technological advancement, everyone has embraced working from home and remotely. Therefore, to keep relationships with customers consistent, teams have to be given access to client information to observe sales pipelines and perform day-to-day roles remotely. This change in work mode has called for adopting CRM tools that support mobility.


4. The pricing

Price charges are significant for you to know to evaluate whether they can fit into your budget or not. There are free and paid-for CRM software packages, so you can choose the one you want depending on your budget command. Different CRM software charges differently, so you have to be conscious. Some tools give free trial versions though these expire, and you have to go in for the paid version if you are to enjoy using the platform.



5. Test drive the CRM

This is very critical for your business before choosing the right CRM. If need be, and you don’t understand some aspects, ask for a demonstration session from the expert to show you how the system operates and fix anything you think could be missing.


This would also help you inquire about how the CRM system can be maintained, like you could decide to do a free trial version to test the performance of the software regarding user experience and functionality. This allows you to understand the ease or simplicity of usage regarding tax executions and accomplishments. Therefore, it is advisable that before you go to buy CRM software, request a free version first, use, test, and prove its usability experience.


6. System Integration

This is a vital aspect to consider when choosing the right CRM system. If you buy a CRM system to help you run your business, you may need to integrate the software with other third-party applications for maximum gain. The right CRM should support services like office 365, Google Workspace integration, ERP, and many other software tools.


7. CRM deployment

You are going to choose between cloud-based or on-premise CRM. However, both solutions have positive and negative effects. With a SaaS, you must log in to the cloud-based CRM of your internet browser. The downside is that internet support is vital but may not be entirely reliable. On the other hand, the on-premise software is physically suited, meaning integration with other software tools might become easy due to straight access; however, mobility is limited.


8. Security

Data security is a non-negotiable aspect of your preferred choice of CRM. Your customer data is your gold mine. Fintechs are highly involved with their customer's financial data. This data is so sensitive, and the last thing you want is for this data to be under threat.

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