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What technology integrations are you underutilizing?
Technology is no longer a nice-to-have, but a must-have when it comes to running a successful advisory business.
What technology integrations are you underutilizing?
In this Ideas from the Lab video, Stephanie Reilly, Practice Management Consultant, discusses how you can manage technology integrations and take advantage of the tech gap to elevate and scale your business. She also explains why you don’t have to be a technology expert to take advantage of what’s at your fingertips.
Stephanie Reilly:
Are you aware what integrations you have that you're underutilizing? In my technology conversations with firms, I'm often struck by how often integrations are left on the table. It's so common that I'll be talking to a firm and here they utilize a certain software. So naturally, I'll ask them if they're taking advantage of the great integration available with that software.
Confidently they'll respond, "Yes, of course we're taking advantage of it." But because of my experience, I'll then ask more specifically, "Oh, so you take advantage of their address change automation?" To which they often respond, "Oh no, we didn't know about that." You don't have to be a technology expert in order to be informed of what integrations you have between your technology systems. The easiest way to ensure that you're keeping up with your technology vendors integrations' enhancements is to either stay in touch with your technology sales rep or locate where available integrations are listed within the website or application. But don't stop here. Turning on an integration is so important, and you should consider it immediately, but do yourself a favor and take the extra step of reviewing all the capabilities of the integration. Your custodian and/or your CRM should have an integrations page.
For example, here is ours. Here is Wealth Box. This is a great task for your technology owner to keep on top of and can save you time by potentially automating your current manual tasks. If you need help, you can take action right now by exploring the scale with operations CRM integration diagram, where you can map out all your different technology vendors and see where they're integrating with each other. And make sure to stay on top of the SEI Wealth Platform enhancements and the SEI Advisor Center Help Menu or our What's New newsletter.
“In my technology conversations with firms, I’m often struck by how often integrations are left on the table.”
