The tech world can be really brutal and unsafe, which is probably why most people are moving towards client portals. These are applications or websites which would offer a client a place to save and view confidential information about their finances. Client portals also feature management tools for the client. They provide the client with the views of their account balances and account statements. Whatever financial documents you need, I can guarantee you that the client portal has it all.
The best client portals would provide you with integrations with intermediary tools like those which help in management of finances and portfolio. They would also combine all your financial accounts together to make it easier for you to view a summary of your finances or any other information. Furthermore, they provide the client with programmed communications such as performance reports.
E-mails aren’t safe anymore, and so client portals allow you to save this information and allow specific people to view it for confidential purposes. I have a great recommendation for you if you’re looking for a client portal with great security, but first, how would this help you build your revenue and reduce costs? Client portals aren’t just elaborate online safes for keeping information; they also add a lot of value to you and your business. Looking into client portals, I have fished out the ways by which they increase your revenue and reduce costs.
How Client Portals Build Revenue
- One way in which client portals would increase revenue is by giving the client more time to scope out potential opportunities. Because of the functioning effectiveness that the client would obtain from utilizing a client portal, different opportunities are open for the client to prospect longer. In some cases, clients set up sample accounts to show different prospects how the portal appears and offer them some features of the portal like the fact that it can put together or aggregate financial information. This would help the prospects gain insight on the portal and allow the clients to build up revenue.
- I have also discovered that client portals are able to combine information from different client accounts, as well as held away accounts, and this provides the client with the chance to recognize ant disparities. This would allow the client to also bring in more assets to the fold. For example, if you are looking at a client’s information, you can provide a product that would help the client depending on what the client has or what they don’t have. This allows you to increase your revenue.
How Client Portals Reduce Costs
- Firstly, when using client portals, you get to reduce contact. They decrease the reasons for making phone calls or face-to-face meetings with people because of the fact that they already offer the client all the information that they need, both current and also accurate, on the portal. All of these information are right there at your fingertips and so they reduce any contact that you might have to make with others. Also, when you use integrated client portals, which are shared with other clients, a client can input some documents which would initiate a workflow of yours without even calling the client. With this, you can save costs on phone calls and meetings.
- I also found out that client portals reduce the amount of paperwork that you need. Paper is one of the main costs of offices because everyone needs it, but with everything going digital, paperwork cannot be left behind. Client portals make it more convenient for clients to do paper work because of the electronic communication that it provides, and it makes it more affordable for advisors to use. Instead of printing paperwork like quarterly updates, commentary, reports, invoices and any other paperwork, you can simply have them on your client portal. And you don’t even have to mail them to anyone because you can allow specific people view this client portal, thus, reducing the costs of paper, ink and any other usual cost.
- With a client portal, you also won’t have to spend so much money on trying to keep the company’s information safe or the client’s information private. Instead of encrypting information or locking it away, client portals provide you with an affordable way of saving and viewing confidential information.
- Lastly, client portals improve communication between the advisors and clients. Because of the client portals, I have discerned that the client and the advisors can view the same kind of information at the same time, and completely safe too. If the client has a question or a problem with the paperwork or any other information, such client can call the advisor and the advisor can view the information and address the problem immediately. This is a cost-effective feature that reduces costs.
Apart from reducing costs and building revenue, client portals also drastically improve the experience of the user and formulate a smooth relationship between the client and the company or the advisor.
All of these reasons, and more, are just why you should consider using the Filecenter DMS client portal. With this client portal, you can decrease costs, increase revenue and create a smooth relationship with all of your client, all at a highly affordable, yearly fee. With this client portal, you can place your company in the midst of your client’s financial life and get the job done without any hassle.
Because of all of the great features of this client portal, it makes sure that the client can save and view any important and confidential information, especially financial, by just skimming through the portal. It also allows your company serve the client and provide them with anything that they need.
Investing in a client portal, especially my recommended site, would go a long way in pushing your firm forward while causing a cost reduction and a revenue building process. All you have to do now is check out the client portal and start using it today!