Why platform integration is important for clients

November 16th, 2023 | FINIO News, In The Press

Why platform integration is important for clients

Our CEO, Robin Bevan, recently shared his views with FT Adviser on the advantages of an integrated data hub and the crucial role of platform integrations for advisory firms and their clients.

The different methods of integrating data

Customer relationship management software is commonly used as a single source of data for clients and therefore needs accurate, detailed and up-to-date data on their investments, says Robin Bevan, chief executive of Sprint Enterprise Technology.

This typically happens in one of three ways: manually updating a CRM, via a point-to-point integration or via a data hub.

  1. “The first way is labour intensive and prone to human error,” says Bevan.
  2. “The second, point-to-point integrations, is often slow and data may not be available in the CRM until some time after the date it refers to. It is also limited in granularity – it may be limited to valuations only – and is therefore less useful, and subject to errors where historical changes to transactions are not reflected in the CRM data.”
  3. A data hub eliminates the need for re-keying, Bevan says, and allows for faster and more reliable delivery of data. “It also allows for more granular data to be delivered to the CRM, which in turn means more can be done with the data itself.”

To read the full article visit the FT Adviser site here

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