Analysis: Get smart with business systems


Mortgage advisers can be divided into three types: smart business creators, business managers or traditionalists.

Business managers develop their own in-house point-of-sale IT system. This can be quick and cheap but it rarely integrates the whole business process and the system starts to age from the point of development. 

Traditionalists are held back by paper-based, manual data entry and the problems caused by human error when rekeying data.

Smart business creators source an end-to-end business management system that is constantly updated with regulatory changes and technological advances. Their system creates efficiencies that help their sales increase by up to 30 per cent. They achieve this by inputting data for each client only once; pre-populating mortgage protection and GI sourcing; automating various other tasks and keeping a full audit trail.

But business managers and traditionalists can quickly offset the annual subscription for an end-to-end IT system and turn themselves into the smart business creators of the future.