ReadyFunds, Inc.

Connecting Global Operations:  Moving Above and Beyond Salesforce.com 

Ready Funds, Inc.—a global provider of merchant account processing and loans for small businesses deploys the CMAEON tools to link their 250 agents world wide. Ready Funds, Inc, was an advanced user of Salesforce.com and had hit the limits of that platform. They engaged CMAEON to help them design their next level of growth, which is catapulting the company forward in growth and profits. Ready Funds, Inc connects with 24 million small businesses in the United States annually. They needed a process based integrated platform, with VOIP integration—after struggling to integrate their former CRM solutions for over a year, they engaged CMAEON—in 60 days they were up and running fully with launches from Canada to India on the CMAEON CRM3® ProMarC platform.

CRM3® PROMARC REPLACES SALESFORCE.COM FOR READYFUNDS, INC.

Case Study: CMEON connects ReadyFunds, Inc. on-demand with the CRM3® ProMarC fully integrated process marketing solution.

ReadyFunds outgrew the functionality of their Salesforce.com platform. Agents were spending too much time chasing files and struggling with process.  With CRM3® ProMarC, ReadyFunds is gaining almost a full hour of productivity (250 man hours per day) in their operations - adding a huge increase in ROI.

HIGHLIGHTS

COMPANY: ReadyFunds, Inc.

  • Provider of unsecured cash advances to small businesses.
  • Based in New York, New York.
  • Employs worldwide staff
  • offers 24x7 support to customers.

INDUSTRY/MARKET: Financial services for small businesses.

Business Requirements:

  • Find an on-demand solution that handles the needs and growth of a global business that requires a streamlined process marketing solution.
  • The use of standard CRM tools for lead and contact management - the growth of the company demands an improved process for better conversion and fast customer support
  • Integration between call centers to help close more deals.
  • 360 degree data tracking and reporting for all lead sources and all channels, right through to conversion.

READYFUNDS INC.

Provider of cash advances increases workflow efficiency through integration of CRM® and VoIP call center.

ReadyFunds provides unsecured cash advances to small businesses which need simple, low-risk funding to expand and manage their operations. The company has carved a niche within the competitive cash advance industry by targeting the more than 23 million small businesses in the United States. To improve customer support and efficiency in closing deals, ReadyFunds used Salesforce.com, a hosted CRM solution, to manage their business. 

ReadyFunds ran into a road block: while their contacts were tracked in their generic CRM solution, their leads and process were disconnected from their call center campaigns.It was impossible for ReadyFunds to operate while their CRM remained disconnected from the core activities needed to grow the business. The key challenges ReadyFunds faced needed to be addressed at the process level - a challenge that was beyond anything their current CRM systems could solve.

In order to address their needs and continue to grow their business, ReadyFunds made the move from Salesforce.com to the CMAEON CRM3® ProMarC.  The CRM3® ProMarC system supports the ReadyFunds sales staff across the globe and across all skill levels in a real time environment.  Initiators (outbound callers) are linked to closers.  The CRM3® ProMarC system vastly increases workflow efficiency for ReadyFunds, and enables 360 degree reporting through all lead sources and channels.

The ReadyFunds CRM3® ProMarC platform is integrated with their VOIP on-demand call center solution from Five9®. Because both systems are web-based, call center staff can work from any location worldwide, including their home, and all client contacts and history are recorded in one central database on a real time basis.  And each user has a unique level of access determined by ReadyFunds management. ReadyFunds can access a global workforce and scale their system according to demand.

"Since our loan agents and lead generation specialists are located throughout the world, this flexibility was key" said Greg Kular, President and Director of ReadyFunds. "We wanted a technology that could support a global company and provide a platform that could grow with us.  We did a lot of research and found that CMAEON could provide the solutions that we needed cost effectively and deployable immediately."

The CRM3® ProMarC integrated platform replaces a series of disparate CRM components that ReadyFunds previously used. Ease of workflow through the sales process - from lead generation through to close - has seen immediate improvement. "We expect to gain 250 man hours daily, a huge benefit to us in our growth and profits", stated Greg Kular of ReadyFunds. 

The exercise of creating a process flow that worked for ReadyFunds was completed through CMAEON's patented BIPED analytical seven step process - which outlined the CMAEON technology tools needed to customize ReadyFund's CRM3® ProMarC platform to match their best practices workflow.  All users are now on a system that creates system efficiencies rather than additional hurdles - efficiencies that allow ReadyFunds agents to maximize their time on the phone and close more deals, while minimizing their time managing leads and sales data.

RESULTS:

Since deploying the integrated CRM3® ProMarC system, the Process, Marketing and call center Connections (or ProMarC) for ReadyFunds have: decreased the amount of time required to process client paperwork from 35 days to 5 days, tripled the number of right-party contacts, and increased talk time per agent by 321% - with a direct correlation to increase in sales revenue and ROI.  A 3:1 improvement across the board.

ReadyFunds agents are able to track prospects through the sales process and generate reports at the touch of a button - with all information clearly displayed on a real-time dashboard. Access to reliable, real-time information has enabled lead generation and funding specialists to save time while greatly increasing their effectiveness.

Prior to using the CRM3® ProMarC platform, ReadyFunds agents had to maintain their sales reports in separate spreadsheet application - because their previous CRM system did not meet their specialized reporting needs. Agents now have a complete client history at their finger tips. Agents can even attach recorded conversation .wav files to client records for the purposes of tracking the call history.  Management can easily access contact information sorted by agent, contact, or campaign, and evaluate all aspects of a campaign to ensure efficiency of the process.

The CRM3® ProMarC integrated platform also provides a new layer of management and analytics capabilities. These capabilities have enabled ReadyFunds to significantly increase their sales and ROI (measured in per-wire amount), work on multiple campaigns, and add new mediums to their marketing and sales strategies.

In addition, the CRM3® ProMarC integration allows ReadyFunds to track what happens to leads through 360 degree reporting. With new leads generated all over the world, management are able to monitor the work of agents in all locations and identify areas for improvement.  A custom pipeline rollup report facilitates monitoring by providing a profile of individual agent performance at a glance.

Finally, a major advantage of having a hosted CRM solution is that ReadyFunds can treat the CMAEON solution as their own platform. If ReadyFunds wants changes or adjustments made to the system, they simply request these changes form CMAEON: they never have to wait for CMAEON to decide to introduce modifications.

"The integration of our CRM3® ProMarC platform with our Five9 call center solution has significantly improved the efficiency of our process ... and we actually saved money on a monthly basis, per user, at the same time," said Kular. "By identifying our unique business processes and matching them, the integration has made a bigger difference than we could have imagined. We are more than satisfied with our decision to work with CMAEON and move our business to the CRM3® ProMarC platform.  We would certainly recommend the CMAEON CRM3® ProMarC solution to any company looking to extend the reach and effectiveness of their CRM."

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