Being able to work effectively in a digital world is vital for small businesses today. After a year that challenged businesses to adapt and become more flexible than ever, everything from customer management and communications to financial services has moved online.

Especially in the field of banking and finance, this change has had a dramatic - but positive - effect. In an API-led digital economy, banks are no longer the sole custodians of customer data, meaning they need to take a more holistic approach to their customer’s needs. Many now supplement their traditional offering with complementary products and services to open new opportunities, while at the same time helping their small business customers grow more sustainably – and digitally. 

Neeta Mundra, Financial Services Transformation Advisor at Salesforce, explains further: "as customer expectations continue to rise, and regulations remain unpredictable we're seeing analytical, technology-driven business models that make finance more accessible, inclusive and competitive by connecting data. Banks are no longer the sole custodians of their customers’ data, this evolution, led by Open Banking is leading to customer-centric innovation, embedded finance and integrated ecosystems, like Revolut Business Marketplace."

How do online financial services and CRM connect for your small business?

In recent years, online financial services have evolved to meet an increasing demand for greater transparency and adaptability in a constantly changing economic landscape. Most notably, moving to an online platform has created three key benefits for their customers:

• Accessibility. With their entire financial history at their fingertips, small businesses can enjoy more than just access to transactional data. They can export information for planning, as well as integrate other digital tools into their processes.
• Security. As a one-stop-shop for all of their online resources, small businesses can relax, knowing shared data is always secure.
• Visibility. Featuring a simple and clear dashboard, small businesses can keep a close eye on every angle of their business.

For financial services, moving towards a digital or open finance API led structure has driven creativity and outside-the-box thinking. This leads to greater flexibility in the products offered and a more agile mindset when it comes to customer needs. This is exemplified by Revolut Business, the business financial super-app. By supporting small businesses with discounted access to complementary brands and products through a dedicated Rewards platform, Revolut Business is aligning their own digital platform and other platforms to benefit their customers.

Declan Hannon, Lead Strategic Partnerships Manager for Revolut Business says, “businesses are now exiting what has been one of the most difficult periods in living memory, at Revolut Business we want to ensure we can give all our 500,000+ businesses a boost with access to industry leading solutions like Salesforce while endeavouring to keep costs as low as possible so they can focus on growth”.

The latest partnership to rise from this push for synergy? Salesforce and Revolut Business. In exciting news, Revolut Business customers will have the chance to take advantage of Salesforce for Small Business and purchase this SME dedicated CRM solution at a discounted rate from the Revolut Business Rewards platform. This hub is home to a number of rewards and discounts that help small businesses using Revolut Business support their growth and strategies, including solutions for customer management, finance and communications.

How can CRM boost your small business?

Now that Salesforce has partnered with Revolut Business, there’s a fresh host of new benefits available to small businesses using the fintech’s platform. A customer relationship management (CRM) will help small businesses rethink and reshape how to manage customer interactions.

As a small business working with open finance services, a CRM platform is the perfect addition to bolster your existing digital toolkit. Featuring a centralised place to keep track of all your customer data with a clear and customisable dashboard, you’ll get a deeper understanding of your customers and their needs at the click of a button.

Of course, for small businesses already using Revolut Business, the advantages of using a sleek and efficient digital platform are nothing new. CRM services build on this foundation as well and offer a way to handle data and customer information that is more efficient than ever – and all online. 

Harnessing CRM puts you in an ideal position to strengthen your connection with your customers, as well as your employees and partners. Having strong relationships with your stakeholders is often key to healthy growth, customer acquisition and retention. Once you create a clear user profile, you can manage customers in the present, and even accurately find patterns to predict future behaviours.

Now that remote work is a constant feature in our working world and workspaces are spread across the globe, having an accessible, intuitive platform that’s always up to date and accurate is vital. Online platforms not only bridge physical distance; they’re also key to creating a digital homebase where team members can effectively reconnect with customers and their needs.

"The value of data is critical for individuals and businesses of all sizes in today's all-digital, work from anywhere world. Open Data is driving towards an API-led digital economy, where the customer is in control of their data and decides who it is shared with in return for personalised products and services. We're proud to work with Revolut Business, the innovative business account from the fintech super-app, on this journey". Adam Spearing, EMEA Field CTO & SVP Solution Consulting UKI at Salesforce

How can you take advantage of CRM today?

If you’ve already taken the leap to moving financial services for your small business online, the benefits of a digital platform are no secret to you. Just as open banking offers a vast range of advantages, CRM can support your small business in many ways.

To find out more on the incredible resources that could be at your disposal with the right finance platform and CRM, head to Revolut Business or the Salesforce CRM knowledge hub now. Existing UK Revolut Business customers can claim their discounted Salesforce subscription directly within the Revolut's Rewards page.