The Exchange has launched a back office system for intermediaries and networks designed to streamlin...
The Exchange has launched a back office system for intermediaries and networks designed to streamline administration processes and cut costs.
The tool, which can be installed as software on existing office systems or accessed via the internet, will allow advisers to manage workload, store and manipulate client data such as policy details.
It can also be used to automate the process for anticipation and recognition of commission from providers, streamlining end of month accounting.
The tool is integrated with The Exchange's existing Exweb quotation services, which enables online transaction capabilities in some products such as term assurance and online applications for others, including funds through FundsNetwork. Advisers pay a monthly subscription of £170 per user to access the hosted service via their existing web browser, plus a one-off implementation cost calculated on the size of their business.
Sue Summers, general manager of The Exchange, said: 'More than 17,000 intermediaries use our Exweb service. Now, for less than the average commission received for the sale of a £6,000 Isa, Officeweb gives them a single business administration system that fits their business processes.'
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