An automated pipeline tracking service has been launched in a joint venture by Friends Provident and Positive Solutions to help advisers keep track of their business electronically.
The service will be underpinned by Origo’s New Business XML Tracking Standard and according to Positive Solutions will enable its 1300 adviser partners to keep track of their pipeline business electronically rather than verbally or by paper.
Friends Provident and Positive Solutions believe the service offers IFAs accurate information on the progress of an application without the need for internet searching or follow-up calls to call centres. It also claims to improve commission reconciliation by providing accurate commission information electronically, as well as provide automatic updates of policy or commission details when there is a change to any information once the application has been started.
The New Business Tracking Standard is made up of four components including identification, application status, commission and new business data. Friends Provident and Positive Solutions have launched a product which includes identification and application status and plans to implement the second two components early next year.
David Harrison, chief executive of Positive Solutions, says: “We are big believers in using technology to improve business processes and aim to communicate electronically with providers whenever possible. This new service further reduces the need for unnecessary paperwork and phone calls when tracking the status of contracts, enabling us to provide a more efficient service to the customer.”
David Mace, head of e-business for Friends Provident, claims the key to a successful e-commerce proposition is ensuring the appropriate data is in the right place at the right time.
He adds: “I believe the potential for the new business tracking service is huge and given time, we hope to roll it out to a number of other technology-minded business partners.”
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Nyree Stewart on 020 7968 4558 or email [email protected].IFAonline
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