Rounding out an unusual and memorable year, our CTO, Stephen Jackel hosted the final What’s New at myprosperity webinar of 2020 on Tuesday 15 December.
Participants were given valuable insights into how several firms have embraced technology over this unprecedented year, in particular the myprosperity features that streamlined the transition from in-person to online services. And a snapshot of what myprosperity Partners can expect in terms of the platform in the year to come.
Stephen noted, “One of the key takeaways (from this year) has been that a lot of firms looked to speed up their technology roadmaps, looking to embrace that technology and really bring it to bear.”
Drawing on data gleaned from the platform, Stephen shared the most used features by accountants and financial planners in 2020. Digital Forms, e-Signatures, Report Comms, Balance Sheets and Doc Storage were among the top five most used features for accountants this year, with Stephen noting that “It’s interesting to see that these are some of the areas firms have been focusing on. Particularly, you can see that a lot of it comes down to how firms engage with their clients both in terms of efficiency and also in delivering a better and faster experience.”
“Digital forms and moving away from paper or PDFs and leveraging all of the live, rich data in the platform, often to automatically fill in forms”. This saw a massive takeup during the height of the pandemic, with an increase of 15,540% since the feature launched last year.
Digital Forms was again among the top five features used by financial planners in 2020, alongside e-Signatures, Balance Sheets, Goal Tracking and Cashflow.
Through live data feeds, Digital Forms, Doc Signing and Rooms, the myprosperity platform continued to grow and integrate data across the platform in 2020. “This year we laid a lot of the groundwork for growth in some of our integrations for next year”, Stephen explained, delving into the in-progress integrations including Salesforce, MYOB, iress Xplan and Xero.
In the Partner Spotlight, Stephen shared snapshots of our in-depth partner case studies. Increasing revenue, efficiency and client engagement were prevalent key areas of focus for many of our partners in 2020 and beyond, despite differences in firm size, service offerings and types of clients.
Stephen extended a warm welcome to myprosperity’s latest mobile-first partners, including Cutcher & Neal, Fin Choice, Gillett & Associates and Financial Lifestyle Managers, who each developed branded apps to offer clients an enhanced and personalised customer experience.
Looking forward to 2021, we are focusing on enhancing the functionality of Rooms and expanding our integrations. Stephen elaborated, “We’re going to be going a bit deeper on different types of Rooms. We’re seeing a lot of takeup across a range of different areas, such as firms that are using Rooms for their tax planning, tax returns, fact finds and different types of services such as estate planning, investment planning and super. We’ll be making them more specialised so that in these different types of Rooms, the appropriate types of digital forms or next steps will become available.” This will include deeper integrations in these Rooms across different types of systems, for example, Xero, Salesforce and Xplan.
Finally, Stephen encouraged those who haven’t watched the second episode of the WoWcrowd webcast, led by former Melbourne Football Club captain, Garry Lyon, to tune in for some great insights, valuable tips and light entertainment. Lyon shares his journey through sports and media, and how backing himself with a trusted financial team allowed him to kick some major wealth goals. A star studded panel of experts followed, including Jason Cunningham, Co-founder & Director of The Practice, Kim Payne, Founder of 9Rok, and Matthew Rowe, CEO of Countplus. They delved into the value of forming deeper relationships with clients and good advice.
Watch episode two and register for future WoWcrowd episodes at wowcrowd.myprosperity.com.au
Concluding a year that has been anything but normal, we encourage you all to reflect on all your great work and the benefits gained by the leap your firm has taken in joining myprosperity. We’d like to wish you all a safe and joyful festive season, and a prosperous New Year.
Watch the full episode here.