Process automation Power Automate

Power Automate benefits for asset management firms

Posted by David Smetana on March 23, 2021
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Is your asset management firm still living in the past when it comes to technology? Do you waste hours of valuable time on monotonous manual tasks that offer little value?

The slow adoption of automation is a common problem across many wealth management organisations, but it's one that can be overcome. Using the right tools and processes, you can empower your firm and boost your competitiveness without any heavy lifting.

With that in mind, we'd like to introduce you to Power Automate and the brilliant benefits it can have for your firm.

3 compelling Power Automate benefits

Power Automate is Microsoft's low-code, cost-effective and user-friendly answer to process automation. It's simple to get to grips with and can be used in a multitude of ways to streamline your business operations and encourage better client management.

Let's take a deeper look into the tool's advantages.

1. Automate internal approvals

Don't leave your team hanging when it comes to approvals.

If an employee requires a renewed license quickly, missing paperwork or delays can cause understandable frustration.

Power Automate streamlines this process by filtering form-filled requests to the relevant team member via an approvals workflow. The team member receives an email with the notification, which then prompts them to either approve or deny the request with the click of a button.

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2. Streamline tiresome data entry tasks

Tasks such as data entry are simple in practice but can take up a lot of time, particularly for busy asset managers. This is where Power Automate can really save the day.

Take client set-up, for instance. By allowing your clients to fill out digital forms online, Power Automate can then automatically funnel the data into a corresponding spreadsheet or database. It's simple but quick. And, it'll save you the hassle of manipulating the same spreadsheet day-in-day-out!

3. Make smarter sales decisions

Your sales teams need the right client and sales data before they can book up initial or follow-up calls. The same goes for any financial advisors you plan to speak to.

With a platform such as Power Automate and Power Apps, your firm can integrate your marketing and sales platforms, ingest sales data, and create a central 'hub' for all your prospective clients or contacts.

From here, you can dive into the information and make smarter sales funnel decisions.

Make automation an asset

On average, Power Automate can add 3.2 hours in productivity savings per week, per employee.

But that's not all...

When leveraged correctly, the platform can also reduce the likelihood of lost paperwork, human errors and lengthy delays.

The result for your asset management firm? Heightened productivity, better client workflows and more time for building and diversifying your portfolios.

Keen to find out more about Power Automate and the benefits it can offer? Download our brilliant user guide.

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