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Efficiency Through Automation

August 12, 2020

Business owners hire advisors to offer timely, data-driven advice that will help solve challenges the company is facing.

Advisors (i.e., banks, accountants, wealth advisors) need the right data in order to provide the right advice. They need to know the business inside and out.

This is a challenge for advisors as there are only so many hours in a day. Advisors are expected to attract new clients and stay on top of industry trends and innovations, all while providing constant value to their existing client base.

How can a business advisor continually provide value to their clients, while spending time mining the data they need, and proving their value to prospective customers, all within some semblance of a “regular” workday?

The answer is automation.

Automating elements of client interactions to ensure that every touchpoint provides real value to the relationship without adding more hours to the day. It will, however, increase the amount of value that can be delivered within those hours. Look critically at your to-do list and remove every item that doesn’t actually NEED to be done. Now, look at the remaining items and ask: can these be automated? Automating time-consuming tasks that do not require constant attention or personalization can multiply your time, allowing you to provide greater value to your client relationships when it’s needed.

Think of your data collection activities like a carpenter thinks of hammering nails. Assume that these carpenters are paid based on the number of nails they hammer. Profits would skyrocket if they could focus solely on the actual hammering without also having to place the nail and hold it steady beforehand. Hammering is the real value they provide, so if they could come in to hammer at exactly the right time, they could hammer more nails within the same time frame, and make more money. This would be possible, if placing and holding the nail steady were automated functions.

At interVal, we harness real-time financial data to facilitate valuable interactions between advisors and their clients. We do this by allowing advisors to automate the data collection needed to provide clients with timely advice based on unique, current insights.

Business advisors often advise clients to spend their time focusing on what they do best. It’s time for advisors to take their own advice, by automating the way they get their data, and focusing on using that data to provide their clients with the best advice at the right time.

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