{"id":8490,"date":"2020-08-06T06:34:19","date_gmt":"2020-08-06T06:34:19","guid":{"rendered":"https:\/\/www.ringcentral.com\/small-business\/blog\/?p=8490"},"modified":"2025-03-13T06:24:49","modified_gmt":"2025-03-13T13:24:49","slug":"steve-rice-financial-firm-customer-story","status":"publish","type":"post","link":"\/us\/en\/blog\/steve-rice-financial-firm-customer-story\/","title":{"rendered":"This financial firm saved 60% in annual telecom costs by&#8230;"},"content":{"rendered":"<p>For years, the financial services reps at Steve Rice &amp; Associates have been earning a reputation for outstanding client service.<\/p>\n<p>What makes that extra remarkable is that until recently, the firm wasn\u2019t even operating with up-to-date IT communication tools.<\/p>\n<p>\u201cWe used handsets, landlines, and paper to communicate with clients and each other,\u201d says Xander Rice, a partner with the firm.<\/p>\n<p>In other words, Steve Rice &amp; Associates was developing its reputation for stellar service excellence\u2014and growing its practice almost entirely through referrals\u2014even with technology that made it <i>more <\/i>difficult to be accessible and responsive to clients.<\/p>\n<p>Which was in itself amazing, but as problems kept mounting with its on-premise phone system, Xander and his team knew they had to start looking for something better.<\/p>\n<hr \/>\n<p class=\"p1\">\ud83d\udc40\u00a0 Want a sneak peek into small business success stories? Download this case study\u2013along with four other case studies of real-life companies winning with RingCentral.<\/p>\n<p class=\"p1\">\n<div class=\"download-form-widget standart-download-form\" data-url=\"https:\/\/netstorage.ringcentral.com\/ebook\/\u0441ase_studies_small_business_success_stories.pdf\" data-id=\"69d4ce0790333\" id=\"69d4ce0790333\">\n\t\t<button tabindex=\"on\"  on=\"tap:69d4ce0790333.toggleClass(class='open')\" class=\"open-modal-download-action download-form-button\" type=\"submit\">\ud83d\udcd9 Get the eBook<\/button><\/p>\n<div class=\"download-form-modal\">\n<div class=\"download-form-modal-body\">\n<div class=\"download-form-modal-content\">\n<div class=\"download-form-modal-title\">\ud83d\udcd9 Get this free eBook to dive into five small business success stories. <\/div>\n<form class=\"download-form SMB\" method=\"post\">\n<div class=\"download-form-part\">\n\t\t\t\t\t\t\t<input class=\"download-form-input\" aria-label=\"Full Name\" aria-required=\"true\" aria-invalid=\"false\" type=\"text\" name=\"fullname\" placeholder=\"Full Name\" data-dl-events-hover=\"true\" data-dl-element=\"text\" data-dl-additional-info=\"download form\">\n\t\t\t\t\t\t<\/div>\n<div class=\"download-form-part\">\n\t\t\t\t\t\t\t<input class=\"download-form-input\" aria-label=\"Email (please enter a work email address)\" aria-required=\"true\" aria-invalid=\"false\" type=\"email\" autocomplete=\"on\" name=\"email\" placeholder=\"Email (please enter a work email address)\" data-dl-events-hover=\"true\" data-dl-element=\"email\" data-dl-additional-info=\"download form\">\n\t\t\t\t\t\t<\/div>\n<div>\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"popup_form\" value=\"1\">\n\t\t\t\t\t\t<\/div>\n<div>\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"Lead_Entry_Source__c\" value=\"RC Blog\" class=\"download-form-input\"\/>\n\t\t\t\t\t\t<\/div>\n<div class=\"download-form-part\">\n\t\t\t\t\t\t\t<button class=\"download-form-submit\" type=\"submit\" data-dl-element=\"button\" data-no-auto-dl=\"true\" data-dl-additional-info=\"download form\" data-dl-name=\"Get it now\">Get it now<\/button>\n\t\t\t\t\t\t<\/div>\n<\/p><\/form>\n<p> \t\t\t\t\t<button on=\"tap:69d4ce0790333.toggleClass(class='open')\" role=\"button\" tabindex=\"0\"  class=\"download-form-modal-close\"><\/button>\n\t\t\t\t<\/div>\n<div class=\"download-form-modal-thank\">Enjoy! <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p>\n<hr \/>\n<h2>An old phone system with more liabilities than assets<\/h2>\n<p>Although the firm\u2019s small team was making do with the <a href=\"https:\/\/www.ringcentral.com\/small-business\/blog\/find-best-phone-service-for-small-business\/\" target=\"_blank\" rel=\"noopener noreferrer\">phone service<\/a> they had, Xander knew they needed more if they were going to maintain their reputation as a client-centric firm.<\/p>\n<p>The legacy system, for example, didn\u2019t offer a call routing option that would allow one employee to receive a client\u2019s call if their colleague wasn\u2019t able to answer.<\/p>\n<p>Not only that, with Xander and his partner frequently on the road visiting clients and prospects, they needed to be able to receive and make business calls from different devices like their laptops, tablets, and cell phones.<\/p>\n<p>They couldn\u2019t do that with their original phone service\u2014the only way anyone could make or take a call using their <a href=\"https:\/\/www.ringcentral.com\/business-phone-numbers.html\">business number<\/a> was to be at their desk.<\/p>\n<p>With RingCentral, though, not only could they take calls from their personal phones while showing their business numbers (and shielding their personal cell phone numbers), the team could also \u201cflip\u201d their meetings from one device to another without interrupting the conversation.<\/p>\n<p>Which means that if someone was on a call on their cell phone and wanted to switch to their laptop so that they could share their screen, all they had to do was open up the app and hit a button \ud83d\udc47:<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-43036 size-full\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2020\/08\/541703413-Call-to-Video-Blog-Post-Images_mobile.gif\" alt=\"The RingCentral app works on both computers and mobile devices like cell phones and tablets.\" width=\"375\" height=\"812\" \/><\/p>\n<p>Even more frustrating, the phone system itself wasn\u2019t user-friendly at all. That meant making even minor administrative changes, like updating the contact directory, required help from outside experts. They had to pay for an expensive IT consulting service to come in, just to manage and troubleshoot the system.<\/p>\n<h2>How one tool can completely change your client service&#8230;<\/h2>\n<p>When they switched to RingCentral, Xander and his team solved a ton of issues that the team was facing\u2014and created several additional benefits (for their clients!) as well.<\/p>\n<p>The most immediate change Xander saw was the firm\u2019s newfound mobility. \u201cI really appreciated that I could take business calls from my car,\u201d he says.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-large wp-image-43080\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2020\/08\/download-in-app-store-1024x579.png\" alt=\"RingCentral app download in app store\" width=\"1024\" height=\"579\" \/><\/p>\n<p>The team also appreciated the fact that they could now, finally, set and update call routing instructions as often as they wanted\u2014all through a user-friendly portal, and all with just a few clicks. This was good for the team, and their clients too.<\/p>\n<blockquote class=\"quote\" style=\"font-size: 21px;\"><p>\u201cIf a client calls in, and my office manager can\u2019t get it, then it can ring to me, or someone else, or two people, or go to voicemail. The flexibility we have is terrific.\u201d<\/p><\/blockquote>\n<p>Here\u2019s another creative way the firm is using its new cloud phone system to improve the client experience: by integrating RingCentral with their CRM system.<\/p>\n<p>The team at Steve Rice &amp; Associates uses <a href=\"https:\/\/www.ringcentral.com\/apps\/redtail-crm\" target=\"_blank\" rel=\"noopener noreferrer\">Redtail CRM and RingCentral<\/a> together to <a href=\"https:\/\/www.ringcentral.com\/small-business\/blog\/workflow-automation\/\" target=\"_blank\" rel=\"noopener noreferrer\">automate workflows<\/a>, make their calls more efficient, and improve the quality of their customer <a href=\"https:\/\/www.ringcentral.com\/small-business\/blog\/customer-interactions\/\" target=\"_blank\" rel=\"noopener noreferrer\">interactions<\/a>.<\/p>\n<blockquote class=\"quote\" style=\"font-size: 21px;\"><p>\u201cI love the fact that anytime a client calls, it automatically pulls up their account info and I can see it all, including my own notes about the client, before I pick up.\u201d<\/p><\/blockquote>\n<figure id=\"attachment_43435\" aria-describedby=\"caption-attachment-43435\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-43435 size-large\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2020\/08\/redtail-crm-and-ringcentral-integration-1024x558.png\" alt=\"redtail crm and ringcentral integration\" width=\"1024\" height=\"558\" \/><figcaption id=\"caption-attachment-43435\" class=\"wp-caption-text\">In Redtail CRM\u2019s dashboard, Steve Rice &amp; Associates\u2019 team can not only dial their customers and prospects through RingCentral, they can also see who a contact was referred by, the dollar amount associated with a potential deal, and more.<\/figcaption><\/figure>\n<h2>\u201cRingCentral has actually lowered our overall telecom costs by almost 60% a year.\u201d<\/h2>\n<p>Finally, as if all of that weren\u2019t enough good news, Steve Rice &amp; Associates is also saving\u2014substantially\u2014on its telecom costs since switching to RingCentral.<\/p>\n<blockquote class=\"quote\" style=\"font-size: 21px;\"><p>\u201cWe\u2019re getting a world-class phone system\u2014with big-business features we never had before, and outstanding customer service and support\u2014and at the same time RingCentral has actually lowered our overall telecom costs by almost 60% a year.\u201d<\/p><\/blockquote>\n<p>Where were all these savings coming from? Well, first, they were able to cut telecom costs by eliminating the individual landlines the business was paying for. \u201cThey were even charging us for a couple of extra numbers just for on-hold lines,\u201d explains Xander. \u201cSwitching to RingCentral let us get rid of those as well.\u201d<\/p>\n<p>The other thing was IT support. Like many businesses, Steve Rice &amp; Associates was paying every time someone had to come in and fix something in their old phone system.<\/p>\n<p>\u201cAnd that\u2019s not even taking into account the hundreds of dollars we had to pay for every support call that resulted in a tech having to come out and fix a problem,\u201d says Xander.<\/p>\n<p>We always love seeing small businesses punch above their weight using the right tools, and we\u2019re glad to have Steve Rice &amp; Associates on board!<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">\ud83e\udd2f You could save up to $400 an hour in IT costs.\u00a0<\/span><\/p>\n<p>Explore the RingCentral Advantage for small businesses:<\/p>\n<p><span style=\"font-weight: 400;\"><button data-href=\"#leadform-popup\" class=\"js-open-popup-activator btn primary\" >Take the tour<\/button><\/span><\/p>\n<p>\ud83d\udcb0 You can also <strong><a href=\"http:\/\/www.ringcentral.com\/roi-calculator\" target=\"_blank\" rel=\"noopener noreferrer\">use this calculator<\/a> <\/strong>to see roughly how much your business could save by using RingCentral to support your team&#8217;s communication with each other\u2014and clients.<\/p>\n<hr \/>\n<p><a href=\"https:\/\/www.ringcentral.com\/whyringcentral\/casestudies\/steve-rice-and-associates.html\" target=\"_blank\" rel=\"noopener noreferrer\"><b>Check out the full case study.<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For years, the financial services reps at Steve Rice &amp; Associates have been earning a reputation for outstanding client service. What makes that extra remarkable is that until recently, the firm wasn\u2019t even operating with up-to-date IT communication tools. \u201cWe used handsets, landlines, and paper to communicate with clients and each other,\u201d says Xander Rice, &#8230;<\/p>\n","protected":false},"author":29,"featured_media":46372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17901],"tags":[8547,18463,18464,2081,1013,18465,18466,18467],"class_list":["post-8490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-leadership","tag-customer-story","tag-investment-firm","tag-reduce-telecom-costs","tag-ringcentral-case-studies","tag-ringcentral-customers","tag-steve-rice","tag-steve-rice-associates","tag-telecom-costs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.3 (Yoast SEO v27.2) - 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