Wealth management software for advisors continues to update and evolve rapidly. Speed and reliability continue to remain the key factors, and having the ability to automate as much as possible is crucial. ReportWa looks to take the details and technology begin wealth management software and present it in an easy to use package.
That being said, having data properly stored is important, but being able to export and use that data is equally important. For many firms, exporting the data will include generating reports for clients and a detailed analysis of your firm’s current situation. In order to make this process simple and efficient, you will likely want an open and secure API architecture.
API or Application Programming Interface allows one piece of software to make use of the functionality of, or data available to, another. It provides a consistent, programmatic method for accessing a resource. Simply put, it’s a structured way of exposing functionality.
When using API, it’s important to understand the benefits. First, the data can be exported easily anytime from the system. This means if you run weekly or even daily reports, you can access the information quickly and readily. Also, if you have a client that has a question and you need analysis, you can access the data.
Next, it can integrate with the home-grown systems. This means the current systems and data structure you have in place, API will likely integrate well, relieving stresses and concern with needing to completely revamp your data structure. Piggybacking off that, you will have extremely limited training of new software. Being able to add ReportWa on top of your existing information will allow for a seamless transition, freeing up time and resources.
Lastly and arguably the most important, automation increases. Reports you’ve been working with monthly and daily can now be generated and accessed automatically. By increasing the automation you are freeing up time to better serve your clients.
These are the benefits of using an API architecture that is open yet secured. It can streamline many processes within your organization, giving you more time to focus on building client relationships. Check out ReportWa for yourself and see how effective it can be for your business.
