New business

All firms need to know what business has been written and by whom, they need to know unambiguously, they need to know in real time but most rely on a paper based new business notification - and paper can do neither of those things.

Paper can go astray, paper can be part-filled, what’s written on paper can be misinterpreted. What’s more paper is inefficient. Even the most IT equipped member of a network a member of a network who uses back office technology comprehensively has to copy the information onto paper for submission purposes, only then for the network’s own staff to copy the information into their own system (subject to interpreting handwriting).

For networks, there is a simple solution which is a real “win-win”. Instead of paper based forms, electronic forms can be used instead.

Electronic forms (Enforms) can easily be pre-populated from the member firm’s back office system; they are intelligent so users have to complete only the relevant information; they ensure that the new business data captured is fully complete and valid and they can present information to the Network’s own system electronically.

The result for networks and the membership alike is:

• No lost submissions
  
• No interpretation of what’s been sold
  
• No time lapsed between sale and notification
  
• No time wasted.