Articles on: CRM

Tags, Pipeline, Custom Fields and Audit Process

When you should use tags?

Tags are used to label contacts, relations, securities, documents, and research. They are regrouped in a “group”. Tags are very useful to regroup records together in clusters or to find dependencies and relations.

woman, man
advisory, discretionary wealth management
RSI Buy, MACD, Bollinger
Bordeaux or Bourgogne

We suggest you limit the number of tags per group as they should all be known by your team to be efficiently used. As each member of your organization should know each tag, we recommend keeping no more than 5 tags per group. We suggest you create groups per business line or process. A group for compliance, a group for investment thematic, a group for regions would facilitate contact or investments filtering.

When should you use custom fields?

Custom fields are fields you can create in each object. Those fields can be linked to a value set or pick list to facilitate record filling. We recommend using fields when the expected record difference is above 5 kinds or when fields are not needed in your commercial process.

For example, countries, cities, suitability, allergens should be custom fields and not tags.
Please note that filtering functions are possible with custom fields too.

Another reason to use fields and not tags is that some field access is often restricted. For example, the commission field is limited to some privileged users and not everyone in your organization. Therefore, we recommend you store those records into fields and not in tags.

When should you use the pipeline and audit trail process?

Pipelines are used to show the process of evolution linearly. The audit trail process should be used for the nonlinear process. A linear process means that you will track steps 1, 2, and 3 in this order. You will be able to track the number of days. This type of process is perfect if you wish to track sales’ progression or a project evolution:

Lead > Qualified Prospect > NDA signed > Negotiation > Client > Close Account

In this pipeline, you can go back but normally the concept is to move forward.

The non-linear process is perfect to manage compliance issues:

Pending > Activated > Flag Money Laundering – Freeze > Pending > Refused

As you see above the process returns to “pending” for an additional assessment.

Pipeline and audit trail process can be customized and enriched with API and automation.

Updated on: 11/07/2022