Transforming client reporting – a digital-first approach

Investor needs are constantly changing – institutional and retail clients are increasingly seeking more continuous, less transactional relationships with asset managers. Thus, personalization and timeliness are becoming key to successful client reporting.  

According to a recent report by CaseyQuirk, most asset management firms have failed to keep up, making only incremental changes to address new buyer needs. The report further states that, providing a client experience that improves client acquisition and retention requires technology.  

“Asset management firms that place technology—measured by above average investments in data, analytics, and client experience applications—at the center of distribution strategy can enjoy dramatic improvements in distribution efficiency across multiple metrics,” the report notes.  

A Digital-First Approach

To provide the modern investor experience your clients expect, you need to take a digital-first approach to client reporting and distribution.  

According to CaseyQuirk, above-average investments in distribution technology tend to pay off for asset management firms. The organic growth rates of firms that make these type of investments typically exceed 2% a year, while net flows plummet among weaker spenders. Furthermore, gross sales per salesperson rise as much as 28% and sales via reverse inquiry rise by 36% amongst firms who make significant distribution technology investments.  

To place your firm squarely amongst the digital leaders in your industry, and achieve all the benefits associated with this, you need to digitize your client reporting and distribution as soon as possible.  

Based on our over 15 years’ experience in financial services, document production and distribution, we’ve put together a list of four key aspects you should focus when choosing a software provider to help you transform your client reporting.  

1. Self-serve, automated document production 

To keep up with the demands of investors you need to be able to produce your key investor documents quickly and seamlessly.  

A self-serve reporting production system, with automated workflow management will speed up your production process, enabling you to get the important information your investors need out sooner – which will greatly improve your customer experience, not to mention the time savings your sales and client service teams will achieve. 

Kurtosys Documents caters for this exact need. It enables you to automate your fund or separately managed (segregated) report production and manage the system yourself, which means making changes and optimizing the process is seamless and easy. 

2. Automatic document distribution 

To ensure you’re always providing your investors with the most up-to-date and accurate information, you should implement a system that automatically takes care of report distribution to your websites, portals and any necessary third-party platform or data providers or your investment consultants for separately managed accounts. 

The document distribution functionality built-into Kurtosys Documents will give you peace of mind that all your online channels are always displaying the correct documents. As soon as Documents are updated in the Kurtosys system, or when a new document is generated and approved, it will automatically be sent to all your key forums. 

3. Built-in compliance  

When it comes to client reporting, compliance can easily become a concern. If multiple versions of the same document exist – and are displayed on various platforms – it immediately opens you up to compliance risks. Should your firm be found to be in breach of financial services regulation, you will not only have to deal with a loss of trust from your investors, but you can also be subject to hefty fines.  

For this reason, you should choose a technology provider that takes compliance seriously.  

At Kurtosys we’ve spent the last 15 years worrying about compliance so you don’t have to. By automating critical compliance rules and approvals through Kurtosys Documents, you can significantly lower the chance of incorrect data being used in your client reporting, reducing the risk of costly compliance breaches.  

4. Brand Consistency

Lastly, to provide a superior investor experience, you need to ensure that all the material your company disseminates, both on your website and in your key reports, is on-brand. Your brand encapsulates the image your customers have of your firm, and if not kept consistent, can lead to confusion and ultimately a loss of sales.  

By using a DXM, like Kurtosys DXM to manage all your digital experiences, you can ensure that your brand is presented consistently across multiple platforms. Furthermore, as Kurtosys Documents seamlessly integrates with Kurtosys DXM, brand consistency will be kept across all your key documents as well. 

A modern investor experience 

To provide the type of investor experience modern investors demand you have to integrate technology into all aspects of your client reporting and distribution processes.  

Kurtsoys makes this easy and seamless – enabling you to spend less time on document production and website admin and more time engaging with your clients. Get in touch with us today to find out how.