IT projects can be a bottomless money pit. With the correct toolkit, that shouldn’t be the case.
Key points
- IT projects are complex, and have a knack of running over budget, sometimes resulting in significant costs for asset and wealth managers.
- Most of the times this is because firms try to “reinvent the wheel”, building Client Portals from the ground up, instead of relying in tried-and-tested technology
- Invessed includes all commonly used features (security, charting, messaging etc.). As an all-inclusive SaaS, hosting and support included in a monthly subscription.
- Pre-built components allow us to control costs, and concentrate your budget on things that are truly unique to your business.
A widely held misconception is that IT projects - including Client Portal software - are a never ending money pit. With the correct toolkit, that shouldn’t be the case, and in this blog post we hope to dispel that myth.
Some IT Projects can (and do) blow the budget
Research suggests that the average large scale IT project runs 189% over budget and delivers only 61% of the specified functions
Admittedly, if you’re looking for one-of-a-kind, hand-crafted software that has been developed to perform every task that you could ever want (and many you don’t), then the cost of development will be high. Similarly, if a tool has been created based on an exciting and abstract new concept that that has never been seen (or tested) before, you’re also looking at significant expenditure.
Do you really need to re-invent the wheel?
In our experience, improving your systems to enhance the customer experience – and your team’s ability to manage your clients’ portfolios effectively – doesn’t mean you have to ‘reinvent the wheel’. There’s tried and tested technology that can be expertly assembled to meet your business needs; think of our client portal software as a pick’n’mix of technologies that form a unique combination that does exactly what you need it to.
Think of our client portal software as a pick-and-mix of technologies that form a unique combination
Invessed is such a tool. Our client portal features a number of tried-and-tested features, from security to messaging, that can help to both improve workplace efficiency and enhance the customer experience.
This is where we can dispel the myth that client portals are too expensive: Because of our tried and tested, reusable modules, and the fact that the platform, hosting, management and support are all included in our monthly subscription, the overall cost of ownership of a brand new customer portal is low. There are also no unexpected development bills that you have to dip into the overall business budget to pay.
Simple solutions can provide the functionality you need.
Tried and tested doesn’t mean one-size-fits all. Our Client Portal Software is designed to meet the bespoke needs of your business, no two client portals that we build are the same. Our pre-built components, which can be used in any combination, allow you to concentrate your IT investment on the things that matter most – a functional, practical and reliable tool that works exactly as you need it for the benefit of both your team and your customers.
