Unlock valuable insights with Xeppo | Client Case Study with Strategic Wealth

Many practices have realised that their data is a precious asset, one that has the potential to bring them valuable insights that drive business decisions and growth.

We have all heard of the term big data, but what does a typical digital transformation for a practice look like?

“Data is the new oil” said Managing Director of Xeppo, Paul Campbell, ‘The value of it is immeasurable and Xeppo aims to help advice firms unlock the potential with their data to unearth new revenue opportunities, automate processes and provide an overall improved user experience.”

Xeppo give users the ability to centralise data, leverage the cloud, and create efficient business processes. To truly get the most out of your data, every practice needs to make a commitment to leverage the digital innovations available today. A practice should have a tech champion to learn, test, project manage and ultimately, demonstrate value to the team.

So where do you start? The first step is to bring all your data together into one centralised place.

When your data sits across multiple databases, it allows for a higher risk of discrepancies, security concerns and hours of time wasted to sift through it all.  Once your data is connected to a central hub, it can become your single source of truth and allows your practice to derive valuable insights into your business to unlock its hidden potential.

Mike Jeffs is a Senior Adviser from Strategic Wealth and is the driving force in his practice to successfully implement Xeppo.

“Technology has been at the forefront at Strategic Wealth, we were early adopters of paperless, cloud computing, removing servers from the office, using Office 365 and Xeppo was along with us on that journey as well.”

“The first thing Strategic Wealth rolled out was the FDS app as the very first function with Xeppo. This has been working very well and now we are looking towards the Assent App,” said Mike Jeffs. “The next one we did was the Activities and Projects to be built around what we do and how we do it. It’s a constant evolution over a 12-month period where things have been adapted and changed along the way.”

With every new technology integration, it is not always a plug and play situation, it requires a team member to be committed to understanding the software and a willingness to learn, test and adapt to get buy in from the wider team.

“It was a matter of building it first and proving that it works, proving the benefit of it and getting the team to utilise it,” said Mike Jeffs. “For example, we used to run a number of spreadsheets to monitor reviews, advice implementation, and advice documents. Now all of that is captured in Xeppo, and all of that information comes out in a single view, so you can view it by what work an adviser has got on at the moment or what work a paraplanner has. Once they saw the benefit and how well it provided that information, it pushed them a bit harder to get the right information in. We’ve got KPIs to monitor and we just created different views that gives us all the information instead of running anymore spreadsheets to monitor.”

Most practices already understand the importance of embracing technology to improve business processes and have begun the processes of keeping data in electronic format. Whilst that is a good first step, the key to turning disparate data sources into business intelligence is in centralising and connecting all of this information. For Strategic Wealth, integrating Xeppo helped provide an overview of what is happening in the business to constantly monitor workload and manage a business’s key metrics.

“We currently track outstanding SOA’s, the average length of time it takes to complete an SOA, reviews and implementation outstanding and how long it usually takes to close out implementation. The main thing is that it shows the staff what they are working towards. If we had a backlog in advice documents, we can now easily track where the advice documents are, how many are outstanding, how many have been done and it gives a real sense of achievement for a better employee experience” Mike Jeffs explained.

A technology transformation is all about building security and convenience for clients, while supporting the efficiency and productivity of a busy practice and its employees. COVID-19 meant digital adoption has been fast-tracked for everyone in some way or another and this means for businesses, a heavy adoption of cloud-based software is needed more than ever.

“When Melbourne went into lockdown, we all just pretty much packed up, went home and logged in. We had all of our emails, our server in the cloud and Xeppo was online. There was nothing other than the printer, the scanner, and the mail that we are really missing. The only other aspect that we had to take on was a DocuSign process so that we could get client’s signature” concluded Mike Jeffs from Strategic Wealth.

If you are seeking to unlock valuable insights and potential with your data, let Xeppo be your technology partner to help you on your digital journey.

Want to find out more?

To find out more about implementing Xeppo in your practice, email sales@xeppo.com.au or have a look at our Features page.