Reporting is one of the most critical parts of financial advisor firms today. Reports tell the board how the company is doing, managers how their team is performing, and clients how their investments are acting. Everywhere you look there is a report of some kind, waiting to be examined.
It is necessary to have these reports available to remain competitive through cost savings and performance. But how people are getting these reports to vary. Some may manually put them together through data extracts and Excel, while others have upgraded to a technology such as asset management reporting software that allows automatic report generation.
This article will go over several different reports your firm can be utilizing to grow business and become more efficient. From there, keep in mind that these reports can be expedited and automatic through our technologies.
Workflow
First up is workflow, which is the highway of how work gets down. This can be who reports to who all the way down to where tasks flow throughout the day. The workflow needs to be efficient and seamless, otherwise valuable resources are tied up doing unnecessary work.
By having a workflow report generate, you are showing your company who is responsible for what. It makes it clear what the roles and responsibilities are of others. By having access to this information, you can quickly make changes as your team and business expand.
Employee Productivity
As an investment firm, odds are sales are a large component of your business. By having a report generate employee productivity, you can begin finding ways to maximize your team. An example could be the contrast between your top seller and the lowest seller. If their difference is large, you can find ways to boost the productivity of the lowest seller.
This report can also be used for performance reviews and bonuses.
Audit Reports
Having audit reports constructed and readily available will save you hours of work. Typically audits remain consistent, meaning you know what your auditor is going to request. With that, you can have reports built and read. Should you need to make an update, having access to the report builder will allow you to quickly adjust in house.
Reportwa is a software that can help take your firm to the next level. If your firm is growing, it’s important to have software in place that will grow with you, eliminating the need to update the technology every few years. Feel free to reach out if you have any questions or want to know more about implementing Reportwa within your firm.
