The strategy of conducting a document review ensures that documentation aligns with Customer Relationship Management (CRM) standards for the Customer Experience (CEX) divisions within a financial regulator. The process is thorough, starting with gathering relevant CRM standards documentation and reading the entire document to understand its purpose. For example, comparing the document’s key sections against industry standards highlights any discrepancies that need addressing, such as gaps in customer interaction or complaint management.
Engaging stakeholders is crucial for feedback. By identifying and interviewing key stakeholders in the CRM and CEX divisions, one can gather insights into CRM needs and existing gaps. This collaboration helps integrate feedback into review findings, ensuring the suggestions meet strategic goals.
Benchmarking against industry practices enhances the strategy further by researching CRM best practices within the financial regulatory sector. This involves comparing the document against successful CRM systems employed by leading regulators, evaluating proposed solutions, and suggesting improvements. Such benchmarking helps ensure the document includes analytics and centralized CRM implementation aligned with industry standards.
The strategies
⛳️ Strategy 1: Conduct a comprehensive review
- Gather relevant CRM standards documentation for CEX divisions
- Read the entire document thoroughly to understand its content and purpose
- Identify key sections of the document related to the CRM standards
- Compare these sections against the gathered CRM standards
- Note any discrepancies or areas lacking detail compared to standards
- Evaluate if the document covers essential CRM components like customer interaction, complaint management, etc
- Check for completeness regarding required functionalities like performance reporting and document management
- Ensure the document adheres to best practices in customer data protection
- Assess if the document provides measurable objectives for CRM implementation
- Prepare a summary of findings with recommendations for alignment improvements
⛳️ Strategy 2: Engage stakeholders for feedback
- Identify key stakeholders involved in CRM and CEX divisions at FSRA
- Schedule meetings or interviews with these stakeholders to gather feedback
- Prepare questions focusing on CRM needs and current gaps
- Document stakeholder feedback on the proposed CRM functionalities
- Assess whether stakeholder input aligns with industry CRM standards
- Integrate stakeholder feedback into your review findings
- Discuss potential improvements to align better with stakeholder needs
- Consider insights from stakeholders for future CRM enhancements
- Reflect on feedback to assess if the proposal meets strategic goals
- Compile a report on how stakeholder consultation influenced your review
⛳️ Strategy 3: Benchmark against industry practices
- Research current CRM best practices in the financial regulatory sector
- Identify leading financial regulators using effective CRM systems
- Explore CRM functionalities commonly employed by these regulators
- Compare the document’s CRM system proposal against these benchmarks
- Analyze the document’s approach towards centralized CRM implementation
- Evaluate inclusion of analytics and reporting capabilities in the document
- Consider structure and governance mechanisms mentioned against industry examples
- Assess the proposed customer engagement strategies for best practice alignment
- Determine if document provides innovative solutions to existing challenges
- Summarise findings with recommendations on adopting successful industry practices
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
