The three technologies that your asset management firm can’t be without

by | Apr 20, 2021 | Blog, Finance, Microsoft 365

‘Technology, when used well, can help you with the seemingly daunting challenges facing all advisors today—running an efficient and profitable business, demonstrating your value, and leveraging tools for growth.’ – Dave Welling, CEO, Mercer Advisors

We couldn’t agree with Dave Welling more. Indeed, there’s no getting away from the fact that asset management firms must take advantage of modern technologies in order to hit their business goals.

Bearing this in mind, we’re going to investigate three technologies your asset management firm should consider.

1. Automation tools

Why use a spade to dig a ditch when you could use a tractor?

Just the same, by using automated technology, you can dramatically improve the productivity of your asset management firm.

One of the best ways to do this is to give your staff the ability to automate as many of the mundane manual tasks that currently fill up their schedule.

Tools like Power Automate make this easy and accessible to all of your team. That’s because the platform doesn’t require advanced coding skills, so staff can build the automated processes they need without technical knowledge and training.

As an example, investment managers can use Power Automate to upload customer profile forms to their centralised database. This saves time for asset managers that would have otherwise been spent on tiresome manual data entry.

2. Artificial intelligence

No, don’t worry – we don’t mean Skynet or something else from the latest Sci-Fi dystopian film.

We’re talking about tools that can make your asset management firm far more effective.

Indeed, over the last few years, AI has proven a valuable aid to asset managers, helping them construct portfolios based on more accurate risk and return forecasts. This is demonstrated by the fact that 76 percent of asset management firms are considering or evaluating the adoption of AI as a portfolio analysis and management tool.

Another AI use case is ‘robo-advisors’. These digital platforms provide automated, algorithm-driven financial planning. Importantly, they can provide a better user experience, enabling customers to make trades 24/7, entirely online, and with just a few clicks.

3. Remote working application suites

If you’re still unsure about cloud-based applications, it’s time to take a closer look at a technology that’s growing remarkably quickly. In fact, the public cloud is predicted to grow by 35 percent in 2021.

If you make use of a package such as Microsoft 365 E5, you’ll enjoy plenty of benefits, such as:

  • Productivity. Excel, Word, PowerPoint, OneNote – all the industry-standard apps are included.

  • Collaboration. Seamlessly collaborate with colleagues on documents in-app, and share files on SharePoint.

  • Insight. With Power BI, you can use business analytics to deliver fast, informed decision-making.

  • Communication. Use call control and PBX capabilities in the cloud with Microsoft Teams.

  • Advanced security. Keep your data safe and stay compliant with tools such as Microsoft Defender and Advanced Compliance.

Alongside automation and AI tools, remote working suites will empower your asset management firm to level-up its performance and resiliency.

Advance your firm with modern tools

Could your company get more done, faster, by introducing some modern technology?

We’re willing to bet the answer’s yes.

From the rise of AI tools to the power of cloud computing, there are many options for ambitious firms looking to take their operations to the next level. Better still, these technologies needn’t be expensive or complicated when you get support from those who have deployed similar solutions before.

If you’d like to learn more about how technology could help your asset management firm, download our complete guide below.


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