Maintaining data with your client base is difficult, and requires ongoing vigilance. All too often a data clean-up initiative from years ago starts to entropy as people forget, staff members change, and the business is unable to maintain vigilance over everyone at all times.
Leveraging Xplan Alerts can drive major business results, including:
Keeping data up to date and reinforcing a culture of data accuracy makes day-to-day client work fast and efficient.
Alerts can be used to identify opportunities for advice on past, present, and prospective clients.
With Alerts cross-referencing values across the rich data sets Xplan can offer, it’s easy to identify cracks in a process before they cause an issue.
What are Xplan Alerts?
Xplan Alerts are a little-known Xplan license that monitors adviser files on a daily, weekly, monthly, or yearly basis and initiates an action when a pre-set criterion is met.
Each Alert can create a different outcome based on business needs, such as sending a list in an exception report to the team member responsible for maintaining that data, sending a prompting email to an adviser with text they may use to engage the client, or to management for oversight. You can learn more about Xplan Alerts within the Iress Community here.
How are Alerts different from other schedules or reporting?
Alerts are different in a few key ways.
Flexibility: Alerts can trigger a range of actions that other options cannot. If an Alert identifies an advice opportunity, it can email the adviser responsible with a coded email that is ready to tweak and send. Alternatively, it could issue a task to a user to assist with tracking, or just a list to be dealt with in time for some ‘best practice’ items.
Timeliness: Alerts can trigger an action for the person responsible and can do so on a daily basis, without noise when everything is going well They don’t require reporting to be distributed by management. This can mean that if someone has an invalid field (such as an FDS Due Date that is too old to be correct), they can get a notification the following day to correct the issue. This allows for passive database monitoring, with actions identified in a timely manner.
Easy management: Once established, Alerts can be easily managed. A list of Alerts can go to a centralised manager initially, and then be updated to issue to the impacted users once confidence is built. If business processes improve, new criteria can be added or old criteria removed to adapt as needs change.
How does Simply Kaizen help?
Simply Kaizen has developed a suite of over 35 Alerts that target common database issues and key data points that can create risk. Our Xplan Alert package includes:
- Consultation on the appropriateness of each Alert for your business, any key data points which may cause false positive triggers or overwhelming amounts of triggers, and the appropriate action for each for your business.
- Build each Alert and conduct testing within your practice.
- A feedback and consultation session with you to see what is and is not working, and adapt as appropriate.
What are the costs?
Alerts Package – Core
Our FDS and Core Data Integrity suite includes 17 of our most essential alerts
$2,420 incl. GST
Alerts Package – Pro
Never miss a gap or an opportunity with our full suite
$4,400 incl. GST
- You will require an Xplan Alerts license for each adviser to use the tool. Costs will vary by site, but at the time of writing can be up to $65 per user per month.
- We will require access to your Xplan, either on an existing login or with a temporary login that is appropriate to be the ‘Owner’ of the Alerts.
- Please note that this is for up to 10 advisers.
Warranty: All work is covered by a three-month warranty, covering any errors in implementation or changes to your site due to Xplan updates.
Early adopter bonus: As an early adopter of this service, as a bonus, we’ll build up to three custom alerts requested by you or identified as being valuable throughout our consultation process.
You may also be interested in our Xplan Data Validation report, which can be used by any Xplan user without ongoing cost and is designed to support database integrity at the review stage as well as offshore resource self-checks.
Submit an expression of interest form below and we will be in touch to arrange a meeting to go into more detail on how Xplan Alerts might help you.