When used as loan management software, Salesforce automates business tasks, organizes processes, and provides data insights you might be missing. As many alternative lenders find themselves at a pivot point between in-person and digital lending, more have decided to bring their operations online. Unfortunately, many teams are ill-equipped to handle implementation, training, and updates in loan management software independently. Now, the shift to digital processes is no longer optional. Cloud lending software is now critical to many lenders’ survival. So what do you do when it’s time to bring your operations online?
Table of Contents
The First Steps
The first decision lenders will have to make is who is going to help. The choice will ultimately depend on the needs of their business. Each of the two options has its pros and cons. Ultimately, you will need to know what you need from your loan management system to decide confidently. Some factors that many businesses weigh are experience, availability, and cost. When looking for someone to teach your team how to use Salesforce for loan management, be sure to ask how they plan to address your concerns in the areas that are important to you.
The first step is to outline where you foresee your struggles. When looking for an automated loan processing system, you may want to consider questions like:
- Is your staff tech-savvy, or will they need a helping hand learning the loan automation program?
- Do they have the time to investigate the program on their own?
- What are your strategies to improve sales productivity?
- Will they need a hand to adapt while they manage their current operations?
- Does your lending involve similar programs or an assortment of physical documents and spreadsheets?
What Do I Need From My Financial Lending Solution?
For the countless lenders that still use mainly physical paper documentation, extra training assistance is a must. You’ll want someone with the knowledge to understand why your team is struggling and how to help. Remember, a proper Salesforce implementation should not disrupt your operations, but compliment them.
Your reasons for choosing Salesforce business consulting services will guide your process from here. Are you changing because you’re short on time? Is it to get more data to improve your lending? Your priorities will help you choose an admin that has the same preferences in mind.
Do I Need a Salesforce Admin or In-House Administrator?
Now, consider some differences between Salesforce Admins and in-house administrators. In-house administrators will have greater availability to train your staff. Still, Salesforce admins have far more experience with training and implementing their clients in the software. Even extended availability doesn’t compare with practice. A Salesforce admin may spend less time training your staff, but their extensive knowledge allows them to train more efficiently.
When you find an administrator who has experienced helping other alternative lenders with consulting services, you’re banking on their experience helping businesses like yours. Any candidate your company considers should specialize in alternative lenders. Since alternative lending has specific challenges that no other industry faces, your administrator needs to be familiar with them.
What Questions Do I Ask?
When you begin to interview, ask about their previous work with businesses like yours. Relevant education or experience can also make for a good fit. While neither one is necessarily more important, the choice will ultimately depend on the candidate.
Now that you’ve verified your admins’ familiarity with alternative lending, consider what your skills are. What is YOUR current level of experience working in Salesforce? Do you know what features you need? Do your candidates? And how much assistance do you need to understand what your needs are?
To confirm your candidate has everything they need to help, take a look at their training. Hands-on experience is excellent, but with software that updates so frequently, it is not enough. That said, your admin should have the right mix of both. How can you verify that your admin has the skills to make the most of Salesforce?
What Are The Skills That Matter?
Your applicants will undoubtedly have different areas of knowledge and experience. How can you weigh them fairly?
When you see your candidate’s qualifications, don’t only take them at face value. Spend a moment researching their certifications and verify their quality. Your candidates should all have a valid certificate that confirms their skills from a body that requires continuing skills tests.
Salesforce admins must go through an intensive training process to demonstrate that they are ready to help their clients at the level that Salesforce expects. While Salesforce only offers the certification exam, online courses are the most popular form of preparation that Salesforce admins use.
Why Are Salesforce Admins Different from In-House Admins?
While an internal admin may know the program, working in Salesforce is a Salesforce administrator’s entire job.
The fluidity that Salesforce admins have when working with the platform comes from extensive training. They must pass a rigorous exam that guarantees that they have the knowledge to configure, run, and modify the platform for their clients. Additionally, they have to pass three release exams every year on its new features.
Because a Salesforce admin works with many different clients, they understand what to expect when helping onboard your team. They know what aspects may be challenging for you and how to guide your team in Salesforce optimization. A Salesforce admin has the generalized knowledge to predict your needs with the program based on their experience with other clients.
While it may seem convenient to have a full-time Salesforce admin, it may not be necessary. Quality admins can train your existing team to run day-to-day operations. A Salesforce admin can come in when needed to help your staff make adjustments and troubleshoot. Spend some time to think if you genuinely need availability or if you need the expertise.
By bringing in a consultant instead of a full-time staff member, your company also conserves time and resources. A Salesforce consultant will give you a good idea of how much their clients typically need. Both of the candidates should outline their plan to onboard your lending and how long it will take.
Though it may be tempting to have an internal administrator handle your Salesforce operations, one thing is sure. A Salesforce administrator is guaranteed to have the skills to help your team, no matter what your needs. If you’re ready to start looking, take a look at our step-by-step guide on choosing the right Salesforce consultant.
CEO of CloudMyBiz Salesforce CRM consulting services with a deep knowledge in the lending industry. Taking keen interest in the project management side of operations, playing a vital role in the 31% YOY company growth. Strategic leader, mastering the ability to problem solve at every level of the business, providing effective solutions for clients.