Adopting a cloud-based platform

Conor Murphy

October 17, 2019

Conor Murphy (pictured) is chief executive of Smartr365

Technology that doesn’t do what it is supposed to do is a curse on modern life. Most of us have had cause to hate our workplace IT solutions from time to time, particularly when it becomes painfully clear that a system’s better days were a long time ago.

But it’s not just a matter of irritation: for a mortgage adviser, outdated technology can make the difference between success and failure.

But when it comes to adopting new technology that should make life easier, many of us tend to fear change. That’s understandable, because the onboarding process required can often be difficult, disruptive and very time-consuming.

On the other hand, there is no good reason why this has to be the case.

If an adviser is adopting new technology to improve their business processes and make it easier to spend more time doing the things that bring money into the business, then why shouldn’t onboarding also be swift, efficient and painless?

In order to achieve this goal, advisers will need to ask potential solution providers four key questions about the onboarding process.

First, how time-consuming and disruptive will it be? Second, how easy will it be to move client data onto the new solution? Third, how easily can the solution be integrated with other business systems? And finally, how much support will the vendor provide before, during and after onboarding?

It would be difficult for many providers of on-premise solutions to answer those questions with complete confidence.

However, cloud-based solutions are designed to be adopted and integrated with a minimum of time, resources and disruption.

For a start, the process of feeding client data into a cloud-based solution can and should be quick, easy and based in large part on automation, rather than manual processes that increase the risk of errors.

Plus, when onboarding with a cloud-based solution, data can be moved easily and securely, in accordance with legal and regulatory requirements.

Going through the onboarding process for this type of solution will quickly give advisers the ability to manage clients, applications, their sales pipeline, protection products and introducers via a single online dashboard. Integration with validation software like MogoPlus or Digidentity can also ensure the integrity and accuracy of client data.

Using a well-designed and supported cloud-based solution offers other advantages too, including access to the best possible security measures and the ability to install new software upgrades and capabilities as soon as they become available.

A good cloud solution provider will also be able to offer dedicated technical support during onboarding and beyond.

Change can be daunting, but if advisers are working with a solution provider that understands the importance of an optimised onboarding process, their move to a new platform really can be completed quickly and easily.

As a result, advisers can focus on providing better services to clients straight away, rather than worrying about the technology they use holding them back.

With this model, they’ll be able to focus on the things that really add value and boost their bottom line: finding the best products to suit their clients’ needs, developing stronger relationships with them, and identifying and pursuing new opportunities.

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