Streamlining Stakeholder Communications: Smart Solutions for Complex Transactions
By Scott Draeger, SVP of Product Marketing and Vertical Solutions
Most Customer Communications Management (CCM) articles focus on Customer Experience (CX). Sometimes, CCM articles focus on the Employee Experience (EX) and improvements of customer-facing interactive solutions. These are often the main characters in the CCM market, but many transactions require the support, involvement, or approval of important third parties.
Delivering the right communication to these stakeholders in the right format is critical to the customer’s transaction being processed quickly and accurately.
In this article, you’ll find helpful information about how to deliver great communications at the right time and for the right audience.
Who Needs to Know About the Transaction?
Important transactions, like establishing mortgages, creating a trust, assigning power of attorney, or submitting death claims require the creation of documents for a variety of people with specialized roles. Some of these people include: lawyers, notaries, custodians, guardians, family managers, beneficiaries, real-estate agents, and others. Generating communications for involved stakeholders is often complex with traditional CCM offerings, and it’s becoming more difficult as data privacy, record keeping, and clear communication regulations grow in complexity.
Trying to remain compliant in your customer communications processes? Discover how the power of SmartCOMM™ from Smart Communications can help.
Carbon Copies, Enclosures, and Disclosures Add Complexity
Sometimes these communications require more, or fewer, pages. Carbon copies are required for some parties, but may need to have data redacted or obscured. Enclosures may be required for the customer’s information, but an agent may not want this unnecessary clutter clogging up an inbox. A mortgage customer needs to supply a lot of data, but their data should not be shared without redaction to others involved in the transaction. These professionals may not need all the enclosures, just the ones that matter to their steps.
Third-Party Communications Affect Your CX Scores
If the business cannot accurately and quickly generate communications with the right level of data, privacy, and delivery requirements, the transaction can be delayed. A delayed transaction, even if it is the fault of a third party, often reflects poorly on your customer experience. That means your CX scores can suffer if the third parties around your transactions are not receiving accurate communications quickly and completely. Generating them from the same CCM transaction ensures accuracy, consistency, and traceability.
Leading Cloud-Based CCM Software Brings All Parties Together
SmartCOMM™ addressed this issue with a “Business Events” feature that streamlines the management of data, pages, redactions, and enclosures for complex multi-party interactions. Since SmartCOMM generates batch, interactive, and on-demand communications from the same user interface, it is possible to manage these complex scenarios with the necessary level of involvement from the right people.
Business Events Uses the Right Skills at the Right Time
Your business analysts know all about the transactions. They know which party requires which communication. They know who needs to be involved in the signing process and who needs a copy of that signed document to move it along. They also know about those new regulations regarding data privacy, translation requirements, and how those regulations are translated into policy within their business. With Business Events, business analysts control who receives what and when, without adding to the templates' complexity.
Your template designers make sure the data, design, content, and branding assets are available to be applied to the communications. With Business Events, their work is readily available to the business analyst, who can create the right mix of communications for the right stakeholders without having to collaborate on a collection of “almost the same, but not quite the same” templates that boost the cost of CCM applications, increase the opportunities for errors to creep in, and create technical debt in the future.
Your system administrators appreciate Business Events because their communication channels, once configured, are readily available for business analysts to selectively use. The problem of special queues and channel setups for hundreds of permutations disappears, allowing their attention to return to smoothly running infrastructure for the business.
With Smart Communications’ Business Events, Complex Transactions Become Easy
By bringing the right skills of your business analysts, template designers, and system administrators together, creating, assembling, and delivering complex combinations of documents to all of the relevant parties in your transactions, you can deliver amazing customer experience to your clients. You also put yourself in position to be the favorite vendor for the third parties, which puts you in position to get referrals, recommendations, and positive feedback from the professionals you need to keep your organization growing.