The role technology plays in the typical advice business has expanded over the past decade, but alongside the opportunities for greater efficiency comes the enhanced threat from a cyber attack damaging both the operations and the reputation of a financial adviser.
I hold no grudges against email. Yet as your company grows, you could be in store for a barrage of follow-ups, calls and emails from your team or clients if your business lacks a proper management system.
79 percent of businesses agree that artificial intelligence is key to increasing a company’s productivity. In the world of cloud accounting, this means less time spent number crunching. That means also fewer hours focused on trying to find vital account information, decreased risk of human error or having to deploy data entry. Instead, you get to focus on more of the advisory roles of your company – and depend on reliable analytical data to make better financial strategies for a client.
The best integrated accounting systems on the market will allow for your business to download custom-built reports for your clients and showcase other brand-specific documents, which is always a good feature to have.
Digital and information technology has reduced the cost of automation, and subsequently cloud solutions. It also makes more innovation increasingly possible for small and medium IFAs, and in no way just the preserve of large multinational companies.
Harnessing the power of data, predictive reporting, and simple dashboards – these are among the options to consider if you want to increase your clients’ satisfaction.
Morgan Browne is founder and CEO of Enterpryze