Digital Client Onboarding: Are We There Yet?

The first experience that a new client has with a business can set the tone for the entire relationship, and as so much info is often required when a business takes on a new client, the onboarding process is one that must be handled efficiently and to the satisfaction of the client.

As people transact more and more business virtually these days, it is important for businesses to adopt digital onboarding procedures as well to provide a quality, stress-free experience and to ensure the process is efficient for the client from start to finish. 

Increase efficiency, decreased errors, and a streamlined process that is free from physical paper are all fantastic reasons as to why more and more companies are choosing digital client onboarding as part of their business process.

Here are just a few ways in which digital client onboarding can help increase efficiency and decrease errors and frustration for both the business and the client:

• Initial information gathering So much of the onboarding process involved general information gathering, and secure, interactive digital forms make this process a breeze. The client can take their time in filling in the required information on their own and the forms can help support the process in prompting areas that are required, allowing additional information to be included if needed, and allow the client to simply hit a button when finished to send the form digitally to the proper department.
• Document collection Document collection is another area that can be expedited during the onboarding process through the use of digital data collection. If a driver’s license is needed, or a tax document, etc. one can easily scan or take a digital photo of the document, attached it, and send away, from wherever they may be in the world. Paper copies of these document are rarely, if ever, needed anymore/
• Virtual reminders Another aspect of digital client onboarding that improves efficiency is that is a form has not been completed and/or submitted, a timed prompt can be sent to the client reminding them. This removes the need for a human to have to set a calendar reminder and then follow up to deliver the reminder.
• Digital contract signatures In the past, face to face client onboarding was often required to collect physical signatures. But these days, digital contract apps have made this face to face requirement a thing of the past. Entire contracts can be sent online and allow for digital signatures vs. physical ones to secure the validity of the contract. Another huge step in the direction of efficiency for both the client and the company.

While there is certainly value in face to face contact, adopting practices that allow for digital client onboarding can provide an amazing amount of leverage for both the client and the company doing the onboarding. Increase efficiency, decreased errors, and a streamlined process that is free from physical paper are all fantastic reasons as to why more and more companies are choosing digital client onboarding as part of their business process.