Field services demand unique business strategies, and they likely always will. The challenges of running an enterprise that is distributed by nature makes it vital that you adapt to change. Events like global pandemics and changing job conditions are not the only stumbling blocks, however. It can be just as hard to maintain the appropriate paper trail in the face of an ever-evolving regulatory landscape.
Nowhere is this more pertinent than in the financial services industry. NBFCs, banks, and other institutions play vital roles in equalising the economic playing field and extending services to those traditionally left behind. Their consumer-involved nature, however, heightens the governance burdens they must shoulder to complete their missions.
Fortunately, forms are getting a lot smarter. No longer bound by the same constraints that limited its hardcopy predecessors, modern documentation is more accurate, organized, and above all, easier to use. Here are some of the ways the humble form is transforming the way field operations work.
Forms Can Adapt to Fit the Job at Hand
Filling in fields correctly is not much use when you are stuck with the wrong forms. Modern software combats this age-old problem by offering forms that adapt to different tasks. For instance, jumping through loan restructuring hoops is much easier when you have a form that can record and reproduce the information required by different regulations – regardless of which country these rules originate from or where you serve your clients.
Conditional logic is another huge benefit of this trend. For instance, when offering credit accommodations, you might not run into regulatory trouble until you hit a certain well-defined threshold. A form that uses smart conditional logic to automatically alert your in-field personnel of when they need to collect information can save confusion and minimise missteps as workflows change.
You Can Build the Forms You Need to Thrive
Dynamic form building tools make it easier to ensure that heavy regulatory loads will not sink your enterprise. It’s no secret that laws change, and compliance is all about keeping pace. Forms that let you add and delete fields, eliminate superfluous data collection, and include unique branding on your paperwork empower you to grow.
Customisable forms go beyond mere convenience. They can potentially:
- Maintain compliance by streamlining in-field data collection and new-hire onboarding,
- Reduce time spent on sanitising and vetting collected data by letting you define criteria like mandatory field lengths and completion checklists, and
- Improve your grasp on what goes into specific jobs by letting agents collect supplemental digital data, such as photos of IDs and other corroborating documentation.
Smart Form Filling Makes Life Easier for Your Customers
Face it, few consumers want to waste time filling out paperwork. This general dislike is not merely an inconvenience for your financial institution, though. It can mean the difference between gaining new clients or losing them.
The problem only becomes more profound when you consider that many fiscal interactions cannot be accomplished in a single form. Instead, the rules might require your potential client to share the same information multiple times in succession, which can get tiring for anyone.
Smart fillable forms automate data transfer between fields to make such challenges a thing of the past. They improve the user experience so that you can position your brand as one that’s actually pleasurable to engage with.
Dynamic Forms Connect to Smart Backends, Keeping You in The Loop
Want to gain insights and strengthen your compliance stance? It’s much simpler when your data collection practices keep you informed in real-time.
With features like accurate data persistence and automated alerts for custom events, the right forms can help you expand your business process awareness. Learn more about eliminating the paper trail without losing sight of your mission by checking out FSM Lite today.
