For financial services firms, selecting and implementing a new technology solution is usually a resource-intensive endeavor.
Stakeholders are typically under pressure to get a fast return on the time and money invested — which means users need to quickly embrace the solution and integrate it into their workflows.
Taking the time to understand what users need to fully adopt the new tech — before it’s deployed — can make the difference between a successful rollout and one that drags on.
Here are three ways to increase user adoption, drawn from Intapp client success stories.
Tip 1: Phase your rollout
It can be tempting to try to let all your teams reap the benefits of your new tech all at once. However, rolling out your solution using a phased approach can increase user adoption by allowing for more comprehensive, personalized training and support. This approach worked well for our client Hamilton Lane. When the alternative investment management firm decided to roll out the Intapp DealCloud deal and relationship management solution to all its teams after a limited implementation, maximizing user adoption was a top priority.
Working closely with Intapp, Hamilton Lane developed a plan to roll out DealCloud to each remaining team one at a time. This ensured all team members got the tailored training and support they needed to get comfortable with the system — which resulted in DealCloud successfully replacing 28 different systems and processes firmwide.
Tip 2: Select tech that works the way you do
If your tech doesn’t align with how your firm operates, getting users to adopt it will be an uphill battle. Selecting a solution that can be configured to match your teams’ existing workflows solves that problem for you. Take Ten Eleven. While some of the firm’s professionals were initially hesitant to use DealCloud, they quickly changed their minds once they were introduced to the platform’s Microsoft Outlook add-in. The add-in eliminates app switching by allowing teams to add, view, and edit deals directly from their inboxes. It also saves them time by automatically syncing information from emails to DealCloud. “Since introducing this feature, we’ve had great adoption,” says Katie Delaney, Principal at Ten Eleven.
Tip 3: Provide comprehensive training
The type of training you provide can have a big impact on your user adoption rates. Failing to give teams clear guidance on how to use your new system will leave them feeling intimidated and reluctant to integrate it into their workflows. That’s why FMI Capital Advisors set out to ensure its investment banking team had the training needed to confidently manage all aspects of their deals and relationships in DealCloud. The firm made comprehensive training part of its implementation plan, and required all new hires to complete courses within the DealCloud University portal during onboarding.
As a result, FMI’s team of 30 bankers have fully integrated DealCloud into their day-to-day work, tracking 50+ live deals at any given time.
Maximize user adoption with an experienced partner
User adoption is one of the most important considerations when planning a technology implementation — and also one of the most challenging. Partnering with a software company like Intapp, which has already helped more than 1,700 firms successfully roll out new solutions that are purpose-built for financial services, makes it easier.
To get more insights on how Intapp has helped financial services firms achieve their goals, read our case studies.