Traditionally, the role of the financial advisory firm has been to leave the client with a report about the job for which the firm was engaged. Fair enough, this is an easily workable model. After all, if the job was well done and the report satisfies all parties involved, surely the firm will be called upon to perform the same engagement again. Right?
I would have agreed if this were 2016 and maybe even come up with a satisfactory argument in support of the model in 2018. But in 2020, the world as it stands right now is putting unprecedented pressures on business. Not only is everyone considering cost saving initiatives, they are also looking to get more value out of the services engaged from advisory firms. Things being what they are, have you considered what it would take to collaborate with your clients in this new normal? More importantly, have you asked yourself, what value beyond a report can I provide for my clients?
Well here’s our take on a possible approach for financial advisory firms
Embed into the everyday
Wouldn’t it be great if you could leave your clients with a real time dashboard showing them in one place all of the risks across their organization? To not have to wait for a yearly risk assessment report before identifying a key risk area? To be able to rectify issues as they happen? With averQ you can create customized, real time, interactive, dashboards with access controls for every stake holder in your client’s organization. Keeping them engaged with you at all times, not just once a year.
Automation as far as the data can see
averQ gives you an easy to use data analysis platform in the cloud, seamlessly integrated with your workflows. You can setup automated procedures for testing controls, detecting fraudulent activity, checking regulatory compliance, assessing risks and more. averQ can integrate with the data source and perform all the automated procedures you have setup, giving you a quick and simple way to not only boost efficiency and productivity, but really expand on the coverage of your services.
Work collaboratively, Get more done
averQ workflows span everything from issue resolution, incident management, action plans, compliance tracking, risk surveys, self-assessments and everything else in between enabling a truly integrated experience for your client’s audit, risk and compliance functions. Moreover, you can schedule the workflows at the frequency of choice and have averQ take care of the notifications, reminders, escalations and completion tracking.
Effortlessly scale with confidence
averQ gives partners the ability to create a network of their clients, with each client provisioned their own secure and separate cloud tenant. You can replicate workflows, roles, processes, controls, reports, automation procedures and templates from a central repository of your own. Simply choose what needs to be copied over to a new clients tenant and averQ will automate the setup for you. We have made change management a breeze too. Have some changes to your control matrix? Or perhaps there is a new regulation for which you need to test? You can keep all your clients in sync with a click of a button.
So, give us a call or send us an email. We’d love the opportunity to show you how averQ can help you provide truly embedded, remotely accessed services to your clients.
P.S. We also have a really great reporting app that can create HTML and Word reports, formatted to meet your firms reporting standards. You know… if you are into that sort of thing.
