IWL unveils revamped VisiPlan
IWLwill roll out its latest VisiPlan offering - version six - over the next few weeks following significant enhancements in terms of straight through processing capabilities, projection tools, new calculators and improved fee disclosure functionality.
According to IWL executive general manager financial advisory solutions, Ross Johnston, straight through processing will provide efficiencies by connecting the financial planning front end to the platform back end, with flow-on benefits of a reduction in processing errors through double data entry, improving transaction turnarounds, automatically updating portfolio and client information in the financial planner’s system, and eliminating manual and labour intensive procedures.
Johnston says, “This is an important release as straight through processing is a new initiative by IWL and is part of our overall strategy to provide solutions that will assist in improving efficiency in the Australian financial services industry. Straight through processing will allow financial planners to place electronic orders for specific products through VisiPlan.”
Meanwhile the future projection tools - known as the Monte Carlo simulations - use sequences of numbers to generate a range of possible results as well as charts of the accumulated investment amounts based on different risk outcomes and time periods, and enable financial planners to create a ‘snapshot’ of possible results using the simulations.
IWL has planned another major release of VisiPlan later this year, which will include an overhaul of the user interface and the closer integration of the key functionality of Bizmax.
In February IWL released its half-yearly results to 31 December 2003, with a strong increase in profit of 631 per cent to $2.51 million on the previous period.
Part of this impressive performance was attributed to the continued strong sales performance of VisiPlan, which recorded a 14 per cent increase in licensees year-on-year and an annualised growth rate of 20 per cent over the last half year.
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