Certainly. The crimping secures the core of the cable into its termination,
and the heatshrink protects and insulates the end.
Heatshrink is avaliable with a resin lining which fills any cavities or crevices and makes a better job for marine use.
I crimp, then solder, then heat shrink! Solder is sometimes frowned upon, but I've had crimp joints pull out, and I prefer to seal the end of wire strands anyway. The heat shrink tubing insulates the connector electrically and the seals the cut end of the insulation.