Alleviating Implementation Jitters and Individualizing Your Investment Story

Published by Sabine Adams, Manager, Professional Services
September 22nd, 2017

You’ve chosen First Rate as your performance vendor… now what?

Implementation jitters are common, as a daunting task and looming uncertainty stand between today and the first day of the new normal.

First Rate’s Professional Services team provides a time-tested implementation process that facilitates what will be the most time- and cost-efficient implementation experience.

Our method of implementation is centered around addressing all potential challenges that could impact the desired result on First Rate’s platform.

This includes selecting the MVPs of our team to lead the charge in data mapping and consumption, documentation, prioritization, and workflow management– as well as ear-marking activities, responsibilities, and timelines– to ensure a successful go-live event.

One of the most reassuring elements of our process is the amount of attention we devote to our implementations.

First Rate Professional Services is unmatched in the expertise that goes into creating a made-to-order implementation solution, rather than the commonly encountered ‘one-size-fits-all’ offerings in the market

We are committed to partnering with our clients to understand and accomplish their unique goals by providing smooth and on-time implementations.

A seamless integration to First Rate base platform is only the beginning. Our clients can opt for Professional Services to present an individualized success story to their valued customers, and the capacity for these custom-made solutions is virtually without limitation. Amidst an industry that dictates rapid changes and rigorous compliance regulations, here are four ways a few of our current clients have seized this opportunity to optimize their competitive edge:

 

Automated Benchmark Management

Too often, firms have fallen victim to reporting methods composed of outdated and manual procedures when grouping like benchmarks and assigned accounts, account managers, or performance aggregates. These practices are not only exhausting but may absorb many of a firm’s back office resources as well. Professional Services automates this entire process allowing the firm an opportunity to refocus their energy and initiatives on analysis and refinement.

 

Automated Account Maintenance

With an overwhelming number of accounts to oversee, it can be burdensome to filter through accounts that should fall under certain reporting parameters. The best case scenario to eliminate human error and tedious workflow from the equation is to automate the workflow by allowing the firm to set “rules” to filter which accounts should fall out of the realm of reporting, based on an account’s performance activity.

 

Up-to-the-minute Data Aggregation/Retrieval

In order to rapidly and accurately deliver reports large amounts of data, Professional Services utilizes API technology to communicate between software programs based on a specified set of rules (‘code’). This allows an intelligent reporting system to not only report on large amounts of data, but also aggregate, manipulate, and deliver reports on data immediately after that data has been adjusted or updated in the database with no delay. Taking advantage of API technology undoubtedly gives your firm a competitive edge in the marketplace.

 

Compliance Reporting

Most firms accustomed to manual processes tend to lose composure during heightened regulatory scrutiny. Our superior customized reporting system can take an advanced and refined approach in delivering the information needed for regulation in order to assess the most responsible decisions regarding compliance and fair reporting practices.

If your firm is working overtime to maintain its manual analysis, processes and workflows, it might be time to consider solutions that can relieve overwhelming stress and pressure. First Rate Professional Services aims to first understand the goals and objectives of your firm, as well as to understand the vital issues that may be standing in the way and provide a comprehensive and consultative experience to achieve those goals.

Lead by data and driven by client satisfaction, First Rate Professional Services is committed to constructing the proper tailor-made workflows and solutions that allow your firm to focus on more efficient overall productivity empowering growth.

About the Author: Sabine Adams, Manager of Professional Services, has been with First Rate since 2006. In her role, she leads a team of developers in the Professional Services department, the business line responsible for client customization and implementation. Adams has served in multiple positions since joining First Rate, including Client Service Manager, Products Manager and Implementations Manager in Professional Services where she led several key client implementations. Outside of First Rate, Sabine likes everything outdoors and spends time with her daughter and two dogs.

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