Coin Software was the top ranking financial planning software and IWL’s VisiPlan had the fastest rate of enhancement in 2005, according to an independent competitive report into the planning software industry.
The report rated Coin number one for planning software for the second consecutive year.
Coin managing director Tony Graham said the functionality of the software, which was purchased earlier this year by Macquarie Adviser Services, had continued to develop over the past 12 months.
“We believe that the new functionality that we will be introducing during the next 12 months will help us maintain that market leading position,” he said.
Graham said a risk comparison module, stronger integration with selected platforms, and customer relationship management enhancements would be key features of the enhancements.
The competitive analysis report for 2005, which was conducted by Investment Trends, found VisiPlan had a rate of enhancement more than three times the industry average.
EGM Advisory Software Solutions’ Phillip Thomas, representing IWL, said the company had invested between $7 million and $9 million into financial advisory software during the last financial year, with VisiPlan 7.2 due for release in early 2006.
“This release of VisiPlan marks the final stages of the integration of functionality from BizmaX, the practice management software acquired by IWL in 2003,” he said.
Thomas said the improvements had attracted new uses, with 10 per cent more VisiPlan licenses issued in 2005 than in the previous year.