Why is Specialized Software Essential for MCA Businesses?May 19, 2023
One of the best ways to grow your business is to improve interactions and relationships with your customers and potential customers. The Customer Relationship Management (CRM) system is a technology that helps you stay connected to customers, improve sales management, productivity, and profitability, and streamline processes. A good CRM system makes information about all customer interactions available to anyone who needs it within your company structure, helps with high workloads, automates repetitive tasks, validates information, brings scattered data into a manageable and useful format for its users.
With the right features, CRM software does more than keep track of your customers. It can boost sales and also save you tons of time and money. Some essential features include CRM analytics, workflow automation, employee tracking, customer service, lead management, and sales forecasting. This software is helpful for businesses of all sizes.
SugarAnt CRM is designed explicitly for Merchant Cash Advance (MCA) companies and offers you more exclusive features – “everything you need, none of what you don’t”. Along with its CRM tools, this cash advance CRM provides personalized notifications, data visualization, communication tools, a cash advance loan servicing, insightful statistics, a sales ecosystem, allows for inter and intra communications, unmatched reporting and so much more.
What is the Purpose of an MCA CRM?
Merchant Cash Advance is now gaining recognition among many small and medium businesses that cannot obtain a bank loan. The reason for the MCA industry’s’ hyper growth as an alternative funding source with is due, in large part, to banks and traditional lending institutions continue to tighten their illegibility criteria. The initiative behind MCA is not to loan a business money; instead, it is a simple way of buying a part of the merchants’ future business revenue at an agreed upon discount.
A typical CRM works for any business, but Merchant Cash Advance CRM is specially made for MCA businesses. Cash advance CRM’s have features tailored to MCA providers specifications, and it is not only helpful in assisting these companies in their front-end operations. It also improves their customer lifecycle management and keeps the business and marketing efforts running smoothly.
Software that is designed for the MCA space offers the following benefits:
- Keeps track of deals from the underwriting and approval to the funding stages.
- Enhances the level of communication through the integration of e-signature software, application templates, and Email for merchants and funders.
- Keeping track of and submitting to multiple funding sources.
- Increases agent efficiency and productivity through quick lead capture forms, one-click deal conversion, simple adjustments, and 360-degree merchant profile view.
- Provides a central archive for merchant contact information, papers, underwriting information, and other related documents.
- Establish and keep track of approvals, fees, and commissions in a central location.
- MCA CRM also ensures lenders keep exact client information, promptly follow up on customers, and monitor their loan pipelines.
1. MCA CRM Improves Customer Retention
Using MCA CRM can help boost customer retention. With the software, you can easily keep track of all relevant metrics, when is a good time to reach out to a merchant for a renewal? Can such outreach be automated? What is the eligibility for a particular merchant? AND SO ON… This level of auto functionality allows the MCA company to save time and human capital to deploy these assets to activities such as sales, retention, outreach, and customer service, which will generate new and recurrent incomes for the company.
2. Achieve More Quality Leads
With Cash advance software, you can train your marketing and sales managers to set attainable targets for lead quality as well as quantity, which directly boost sales so that you can quickly meet your company objectives. Using a CRM database to fortify customer and lead information can fast-track your sales funnel and leads to ensure your managers meet their predicted sales.
3. Streamline Your Sales Process
MCA CRM may help you achieve your goals by improving your alternative finance firm’s sales funnel, and help your company reach its revenue targets quickly. The quality of your lead influences a significant aspect of your business and sales process. Increasing the quality of your leads directly affects the quality of your sales pipeline, the efficiency of your company as a whole, and the quality of your marketing efforts and campaigns, which eventually improve your business workflow. With MCA CRM, you can also differentiate your customer lists by industry. This helps your sales teams to focus on specialized sectors that need alternative funding resources.
4. Run Your Business More Efficiently
A cash advance CRM can improve your capacity to achieve goals by developing an improved workflow for customer-related processes. With SugarAnt software, you not only enjoy a streamlined workflow, but it also increases the efficiency and time management skills of your staff. Choosing an easy-to-use CRM software like the SugarAnt CRM makes it possible for your team to spend more time doing value-add activities and cut down on costly mistakes. By minimizing manual data entries, SugarAnt clients report less human error, which can lead to loss of information when making manual data entries into the software.
5. Increase the Effectiveness of Your Marketing Campaigns
For an MCA focused financial institution, MCA CRM can provide quick access to link each lead in your sales funnels to a particular marketing campaign. Its marketing automation features allow your employees to identify which campaigns will result in more opportunities and eventual sales of your alternative financing services. With SugarAnt’s MCA CRM, you can fine-tune your marketing campaigns to help you achieve your company’s funding goals while saving cash on ineffective marketing channels.
SugarAnt Financial CRM for MCA
SugarAnt is a robust financial CRM solution specifically built for MCA companies. It is designed to support these companies and keep their structure all in a single platform. SugarAnt is a perfect solution for Funders, Brokers, Hybrids, Syndicators and participants, and Hard Money Lending. You get access to all you need for a smooth data flow in one place. The features you get to enjoy include the following:
1. Intuitive and User-Friendly Interface: Unlike other CRM solutions, we provide a simple, intuitive, and user-friendly interface that allows for total access and management of client information. It makes customer and prospect management easy. SugarAnt is about convenient workflows that ensure your team is more productive without the learning curve and minimal downtime.
2. Cloud-Based: With SugarAnt MCA CRM, no installation is needed. All you need is an internet connection. This helps to eliminate IT overhead and extra expenses while ensuring business continuity and automatic updates. You get to work from anywhere.
3. Turnkey Solution: No development or coding is required while using SugarAnt – no high barriers to entry. SugarAnt is equipped with relevant and valuable features that allow for the smooth automation of your entire business flow.
If the main focus of your business is to retain customers, improve sales, or generate inbound leads, SugarAnt CRM will help you achieve these goals. A CRM is more than just software to achieve your organizational goals; it also improves employee efficiency.
SugarAnt makes it easier to stay in touch with your existing customers and reach out to new prospects. The SugarAnt CRM software’s features are the best option for you and your entire MCA team. We’re here to assist you in your growth