Licensees could be missing out on efficiency improvements and not capitalising on the wave of integrated advice solutions on offer in Australia today.
Most licensees don’t have a full-time CTO in their office. Deploying an advice technology strategy is not simply installing a cool app and expecting to be 20% more efficient. What efficiency you gain in one function, you can lose two fold in another. A technology strategy requires strong vision, good planning, process design and systems integration experience. Of course, a dabble into video conferencing or sharing a cashflow app with clients can be interesting. But if you are serious about efficiency and growing your business, you must consider how these systems intersect with your current processes and who in your office will make the magic happen.
All this starts with an advice driven technology strategy?
Wanting a technology strategy brings with it the need for new skills. How do you build this advice vision? How do you know what can be done and at what cost? Do you have the resources with the experience to execute the plan?
A technology strategy is the plan that describes how you will use technology within your business. Your plan must focus not only on the technologies, but also the people who manage those technologies.
Some key elements for a successful technology strategy are:
A successful technology strategy for an advice business recognises the client at the centre of all processes. Before you leap into subscribing to a shiny new app or website, consider the cross functional impact these have on other parts of your operation. Doing this can open your eyes to more ways to surprise and delight your clients, improve the quality of your work and lower the cost of advice.
Planfocus offer expert advice to uncover your advice technology strategy and can help you build your technology ecosystem. Call us today for a confidential discussion.
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