Need for Field Force Management Software in Banking, Financial Services and Insurance (BFSI)

The banking, financial services and insurance (BFSI) industry is increasingly moving towards a customer friendly service oriented culture where doorstep services have taken precedence over traditional branch banking. The concept of doorstep banking is on the rise with hectic schedules and paucity of time. At the same time, there is a fierce competition to ensure that a hot lead is not gobbled up by your rival company just because they were able to reach the prospect earlier. However today, the scope of doorstep services or ‘home banking’ , goes far beyond cash withdrawal/DD request and comprises other services ranging from customer onboarding, document collection, verifying identity (KYC), cash management to opening a new account and delivering credit cards.

Field Force Automation in BFSI

Some of the key challenges in banking and financial services industry revolve around managing the field service workforce. In the banking industry, a lot of activities happen in the field with teams moving along multiple geographical locations. It becomes very important to monitor your field force on an everyday basis because in banking, service to the customer is a crucial measure of quality. Field agents have to endure a lot of hard work right from door to door selling, attending to customer requests, tracking the sales funnel and what not.

What differentiates you from your competition is the ability to execute flawlessly and delighting the customer. Optimal planning of beat routes, sales representative management, and sales rep visibility are some of the major field service management challenges faced by the BFSI industry. To address these problems, the need of the hour for banks and financial services is an all-in-one intelligent field force management app that can empower field agents to execute their tasks flawlessly while providing transparency in operations and simplify the complex customer service management landscape.

With a good field force management app, banks can easily keep track of their mobile workforce in the field. In addition to improving doorstep services, a good field force management solution can provide intelligence in increasing sales, closing leads faster and optimize the sales function.

How Can a Field force Automation Software Help Banking and Financial Services?

1) Mobility Quotient

A good field force management solution for banking facilitates collaboration on the go with its multi-device compatibility that enables monitoring the entire field activity in real time and helps to reduce turnaround time. Your field agents can sync up contacts, allocate tasks, create / assign leads, scan documents, get intelligence, plan routes, track the distance covered, and get all necessary information through a single mobile app that is handy to use. Field force automation facilitates mobile workforce management.

2) Better Lead Management System For High Velocity Sales

A great field sales management tool helps to achieve higher sales rep productivity through GPS tagging of field activities with map views, cues about nearby prospects, notifications to field reps and managers on idle leads and gamification to inspire performance. For banks who have customers scattered across geographies, it becomes a great platform to converge all the field functions in a single place. With every customer response recorded, a lead management software also works as a reflective dashboard that helps to get an insight into your customer’s buying journey.

3) Location Based Work Order Allocation

A light, battery-friendly mobile workforce app with live location tracking helps your sales managers to perform geo coverage analysis, detect nearby opportunities, gain visibility into agent activities and location. With auto assignment of leads, it allows you to match your available resources with the tasks at hand as per skills and availability. You can spot the sales representatives geographically closer to the lead and then allocate leads / tasks accordingly . This helps in servicing the customer on time, better resource planning and increases efficiency.

4) Live Field Agent Tracking

No field force management software is complete without a live geo-tracking capability. With this, you can move along with your field service team at the same pace in real time to get a bird’s eye view of all field operations – from territory planning field visit routes, attendance checking via geo-fencing to tracking compliance.

5) Offline Yet Connected

Choose a mobile workforce management software which allows your field service team to work offline to a certain extent. There could be instances in the field where the teams have limited to no access. The offline mode feature can be of great advantage especially in banking where the teams are handling critical data.

6) Powered by Cloud, Data And AI

While many traditional field force management software’s are on-premise, there has been a rapid rise of cloud native scalable architecture powered by advanced analytics for banking. Here, the platform is highly secured and can be accessed from anywhere with proper interlocks in place. Powered by advanced analytics and AI, a modern field force automation software can also provide intelligent insights to gain instant visibility on open service requests or leads, conversion rates, average service times, SLA compliance and other key metrics across geographies and customer segments.


Streamlining and managing resources in the field is a cumbersome exercise. For an organization like banking where field force is deployed in great numbers, it becomes extremely critical to manage this function well. Investing in a solid field workforce management solution brings the control of your field service team in your hand.

A dynamic field force management software, one which syncs together with your desktop, mobile and CRM, is a good business decision because it not just brings in a process but also automates a lot of routine tasks. Finally, this leads to more efficiency, team productivity and customer delight, which is the goal of every service organization.

Ever wondered how exciting it would be to empower your field staff with innovative technology that can help them focus on core tasks and spend less time on administrative chores? Sign up for a free demo of Dista Field – a modern field force management solution that will be the panacea for all your field problems!