Introduction

Salesforce offers a range of reporting and analytics solutions for financial services organizations, including out-of-the-box reports and dashboards, Salesforce CRMA (formerly Einstein Analytics), and Salesforce Tableau. In this blog post, we will discuss the key differences between these solutions, their pros and cons, licensing, financial services business use-case examples, and considerations when deciding which solution to use. Additionally, we will explore how Vantage Point Consulting partners with organizations to help them get the most out of their Salesforce investment in reporting and analytics.

Salesforce Reporting and Analytics Solutions Overview

Salesforce Out-of-the-Box Reports and Dashboards

Description: Salesforce out-of-the-box reports and dashboards are powerful, intuitive, and customizable analytics tools suitable for organizations of all types and sizes. They work well for generating lists of data and answering questions that don't change too often.

Pros:

• Ease of use
• Quick setup
• Included with Salesforce licenses

Cons:

• Limited data visualization and analysis capabilities

Licensing: Included with Salesforce licenses

Financial Services Business Use-Case Examples:

1. Generating a list of clients with outstanding payments
2. Tracking sales performance
3. Monitoring customer satisfaction

Salesforce CRMA (Tableau CRM)

Description: Salesforce CRMA offers more advanced data analysis capabilities compared to Salesforce Reports and Dashboards. It provides greater insight and contextual next steps all in one place.

Pros:

• Advanced data visualization and analysis capabilities
• Contextual insights
• Integration with Salesforce

Cons:

• Steeper learning curve
• Additional investment required

Licensing: Based on a per-user subscription model

Financial Services Business Use-Case Examples:

1. Analyzing client investment portfolios to identify trends and opportunities for growth
2. Tracking sales performance across multiple channels
3. Monitoring customer satisfaction across different products

Salesforce Tableau

Description: Tableau is a leading analytics solution that can blend Salesforce data with other business data for increased visibility and a deeper understanding of customers. It provides secure, up-to-date, customized views of data for various teams within an organization.

Pros:

• Advanced data visualization and analysis capabilities
• Integration with Salesforce
• Ability to blend data from multiple sources

Cons:

• Steeper learning curve
• Additional investment required

Licensing: Based on a per-user subscription model

Financial Services Business Use-Case Examples:

1. Combining client data from Salesforce with external market data to analyze the impact of market trends on client portfolios
2. Tracking sales performance across multiple channels and products
3. Monitoring customer satisfaction across different products and regions

Partnering with Vantage Point Consulting

Vantage Point Consulting works closely with financial services organizations to help them maximize their investment in Salesforce reporting and analytics solutions. Our team of experts will:

1. Assess your organization's reporting and analytics requirements and recommend the most suitable Salesforce solution based on your needs.
2. Assist with the implementation and customization of the chosen solution to ensure seamless integration with your existing processes and systems.
3. Provide ongoing support and training to ensure your team gets the most out of the chosen Salesforce reporting and analytics solution.

By partnering with Vantage Point Consulting, your organization can leverage our expertise and experience to optimize your Salesforce investment and drive data-driven decision-making across your business.

Considerations When Deciding Which Solution to Use

When deciding which Salesforce reporting and analytics solution to use, financial services organizations should consider the following factors:

1. Complexity of analysis: Determine the level of complexity and depth of analysis required to support your organization's decision-making processes.
2. Data sources: Assess the need for blending Salesforce data with data from other sources to gain a more comprehensive view of your customers and business.
3. User expertise: Consider the learning curve and ease of use for end-users, as this can impact user adoption and overall effectiveness.
4. Cost: Evaluate the cost of licensing, implementation, and ongoing maintenance for each solution.

Conclusion

Financial services organizations should carefully evaluate their reporting and dashboard requirements, considering factors such as complexity, data sources, user expertise, and cost, before choosing the most suitable solution from Salesforce's offerings. While Salesforce Reports and Dashboards are suitable for simple reporting and data lists, Salesforce CRMA and Tableau offer more advanced data analysis capabilities. Financial services organizations should also consider the pros and cons of each solution, as well as licensing and financial considerations, when making a decision.

By partnering with Vantage Point Consulting, financial services organizations can ensure they get the most out of their investment in Salesforce reporting and analytics solutions, driving data-driven decision-making and optimizing business processes across the organization.