What are the common challenges XPLAN newbies (newly self licensed practices) experience with XPLAN? Now I'm not talking about usage of XPLAN. The software has been around long enough that most staff members can move between sites fairly smoothly. Here I'm referring to the more technical, back end side of XPLAN. The side practices rarely need to engage with.
The technology side of self-licensing can be an exciting part of your self licensed journey. However, it needs to be well planned. Your CRM is your source of truth for client information and needs to be given time and consideration. Doing so will ensure your first few weeks and months are smooth and uneventful. Here are some ares you might think about:
- Moving from a large licensee to your own license means that key XPLAN decisions are yours to make. It's hard to know what you don't know. How will you navigate these unknowns?
- It's likely your old XPLAN site was maintained and customised to suit the needs of a large advice network. Functionality was tightly controlled and you only got to see and use, what the licensee wanted you to. XPLAN probably does a lot more than what you think.
- Let's talk data accuracy and completeness. Your old licensee (especially the larger ones) often have a lot of custom data in their XPLAN site. If you need (want) this data in your new business, how do you ensure your new XPLAN site gets this important information? More importantly, how do you even work out if you do or don't have custom data in the first place? It all looks the same. You need to work with your IRESS rep and your outgoing licensee to ensure this issue is discussed and either dismissed or included.
- Integration issues with other systems and software used by the firm. Even integrating outlook is a job that needs planning. IRESS have some well written guides for Outlook 365 and MS Exchange on the IRESS Communities website (login required).
- Difficulty in training and onboarding new staff members into XPLAN. If you haven't any experience administrating XPLAN, it can be a daunting task trying to add users, adjust licenses and manage capabilities. Consider sending the team to get some admin training as part of your transition plan.
- As a newly self licensed business you will have limited support and resources available for troubleshooting and problem-solving issues with XPLAN. Trying to solve problems yourself when you should be elsewhere is not good use of your time. Consider reaching out to some experts.
- Setting up your own site is your opportunity to express your advice process and narrative, the way you want it to be. Enjoy the journey!
At Planfocus, we understand your need to express your vision and we are the experts in tailoring XPLAN to deliver it. We have all the necessary resources to support you in managing your advice tech effectively. Give us a call or click here to find out how we can help you?
