Social Investment Business
Driving efficiencies and investee engagement with the help of Salesforce
The Low Down
Social Investment Business (SIB) is a UK registered charity and trading company that offers loans, grants and other financial products to charities and social enterprises to help them improve people’s lives. SIB manages one of the largest social investment portfolios in the UK and since 2002 they have provided hundreds of millions of pounds in loans to charities and social enterprises.
Life before Salesforce at SIB was very different to how it is today. Investee management was a completely manual process, there were a couple of legacy systems being used to store information but data was very siloed. Investee progress tracking was done completely on spreadsheets meaning it could sometimes be difficult to report on and staff would have to spend valuable time juggling between different systems and spreadsheets.
When it came to getting contracts or documents sent out to investees this was also done manually, with offer letters being individually emailed or posted out, and with this process came a time factor. SIB realised that if they were to centralise where their data and documents were stored and automate the manual processes they had in place they would be able to increase efficiencies and improve the experience they were delivering to their customers.
SIB worked with 4C to implement Sales Cloud. All investee information is now stored on one central platform and each investee account has their own individual record within Salesforce which all data and loan information is associated to. 4C also helped SIB to integrate SpringCM with Sales Cloud, all documents associated to each investee account are securely stored here and synced to their individual Sales Cloud records. This has given SIB a complete 360 degree view of every investee and the scalability of the platform means that as their investee portfolio grows, SIB will be able to continue to seamlessly track and manage the increased amount of data.
Using Sales Cloud we developed a custom Loanbook for SIB. The introduction of the Loanbook has allowed them to manage all aspects of funds, payments, interest rates and loan drawdowns and has ultimately transformed the way they are able to run forecasting reports. Whereas before everything was done manually on spreadsheets, the automated Loanbook has meant that SIB are now able to forecast more accurately and efficiently.
An SIB Community
To help drive up employee and investee engagement, improve the CX they are delivering and streamline customer communications, SIB implemented Community Cloud and Conga alongside the other solutions. Once an application is approved, investees can log into the SIB community where they are able to review their application, connect with their relationship manager and submit additional application information. Once a fund has been approved, the system automatically generates an offer letter and through Conga the investee can receive and review all related documentation, request necessary amends and sign it off. Before deciding to automate this process, it used to take SIB between 1 week - 1 month to get from offer letter to signature, it can now take as little as a few hours.
“Our ongoing relationship with 4C is central to what we do. They are not just providing a service but they are almost walking side by side with us. They understand what the business is and what we are seeking to achieve.”
“Everyone in the business can see the benefits that making the shift to Salesforce has made. There was no real future with the legacy system but everyone can see the huge value the new system is driving and utilisation and adoption is high. Everyone in the business is a Salesforce user.”
Maricedes Firestone, Head of Business Systems, SIB
contract generation and management