The Mortgage Works scales faster and smarter with Salesforce

Posted On by Jessica Stern

Specialist mortgage lender of Nationwide Building Society, The Mortgage Works engaged in a partnership with 4C to support them in automating a number of their manual processes through the adoption of Salesforce’s Financial Services Cloud. We chatted to Jonathan Rew and Simon Freemantle, both Area Managers at The Mortgage Works to find out more and look at the results they have seen since.

The mortgag works logo

Please can you give me a quick overview of The Mortgage Works?
“The Mortgage works are a specialist lender who offer buy to let mortgages. Our mortgages used to only be available via a mortgage broker but since a couple of years ago The Mortgage Works now also l offer mortgages to customers directly, with the majority of the enquiries coming directly from The Mortgage Works website.”

Before choosing to partner with Salesforce and 4C, what business issues/pains/challenges did you have?
“The main issue and reason we needed to adopt a CRM, was that we used to use an Excel spreadsheet to manage all of our mortgage applications and it became an admin nightmare, with multiple people trying to edit the document at the same time. At one point we even had to set up an excel rota, that ensured only one person was editing the excel data at one time. Data duplication became a real issue and we had no confidence in its integrity. The information that we were sending out to key stakeholders wasn’t 100% accurate.

Over the course of two years we have significantly increased our headcount which meant more and more people were contributing to the same excel sheet and it just wasn’t sustainable in terms of efficiency. We knew we needed a more long term, robust solution to help us manage the data and customer applications.”

How did you manage your reporting prior to your engagement with 4C?
“This was very much a manual process. It would take us a good couple of hours each week to be able to pull report, to be able to segment data and build graphs to show the weekly results. It was a painstaking process and we couldn’t be completely confident in the data integrity. “

What tools/ products/ solutions have you implemented?
“We needed a CRM that would enable us to hold customer data, hold application details, product types, mortgage expiry dates and it was also vital we had a system that would integrate with Outlook to enable us to grow our efficiences and ensure our processes were a lot slicker. We also needed to mitigate the risk of the inaccurate data we were facing before. For these reasons we chose to implement Salesforce Financial Services Cloud.”

Tell us about the implementation process
“We kicked off the initial process via a meeting with 4C, we laid all cards on the table with what we were looking to achieve and this really helped 4C understand our business world and organisational processes. Together we worked out things that were imperative and things that we would like to have and it really enabled the 4C team to understand our business processes, our sales process and what we were trying to achieve with this new solution.”

What positive impacts have you seen since implementing these tools/solutions?
“Since going live with the solution, our sales process is a lot more efficient and professional. We have now been able to standardise this process. It has enabled us to be quicker at processing enquiries, freeing up even more time to look at developing new business sources. Efficiency gains have been such an important result. The end to end sales process has definitely been shortened.

It’s not just the front end either, it is also allowing us to manage our customer journey data for repeat business, improving the impact we are seeing here. Now that everyone can access data at the same time we have seen some huge benefits, manual processes have been eliminated and we are able to process data much more quickly, becoming a more efficient sales force. We are no longer missing mortgage renewals and upsell opportunities.”

How are you now managing your reporting? Have you seen any savings around time spent on this?
“The data we now have is a lot more accurate and reporting can now also be done in just a few clicks whereas before it took hours. We can now easily and quickly report on conversion rates and we have live dashboards that are constantly up to date with leads, sales and conversions.”

With the current situation, how has having Salesforce helped you manage a remote workforce/working from home?
“Absolutely, we can share information straight away, we can track individuals who have performed well and share this information on our daily team calls. Beforehand it would have taken us 30 minutes to an hour to pull this information daily.”

Do you now have improved pipeline management and call backs through the implementation of a consistent approach?
“Our whole pipeline management approach has dramatically improved. Each team member can now manage their own individual pipeline, they have automated reminders to follow up with enquiries, leads, view cases and follow up with customers. They had none of this before, it has made a massive difference. As a team we are now able to perform more call backs, which has led to more leads. We are also able to create multiple applications at once should the customer wish to apply for more than one mortgage and via the customer record on Salesforce are able to give a single view of the ongoing deals.”

If you had to describe how you worked with 4C to someone else, what would you say?
“4C have been brilliant, they are always on hand to help out and the user testing they carried out was seamless. I like the whole approach they had, truly wanting to understand what our business objectives were when it came to rolling out the solution and how our business worked day-to-day, making sure the system would fit to our unique way of working. The solution feels completely tailor made to us.”