Technology Evaluation, Data Migration & Implementation Best Practices - for a Comprehensive Solution-Slide handout

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The document outlines best practices for technology evaluation, data migration, and implementation with a focus on the Advyzon platform. 

<strong>Technology Evaluation</strong>: Emphasizes understanding contract terms and shortlisting a maximum of three vendors. Prospective buyers should compile a list of essential features and allow vendors to showcase their innovations without letting price solely dictate decisions. Timelines for data migration and implementation should be clarified, focusing on potential efficiency gains, such as reported time savings by new Advyzon users.

<strong>Data Migration</strong>: Highlights understanding data offboarding terms and identifies three types of Portfolio Accounting data sets: Backup Database, Historical Source Data, and Monthly Returns Spreadsheets. Stress is placed on the importance of partnership and communication to adhere to timelines during migration projects.

<strong>Implementation</strong>: Advises remaining engaged throughout the process, starting training promptly, and reviewing delivered data to address potential issues. It encourages using available resources like online guidance and a knowledge base to maximize learning and platform utilization.

The Advyzon tech stack includes CRM, performance reporting, client portals, billing, investment solutions, and more. Their investment management platform offers various proprietary and partnered trading models, OCIO solutions, direct indexing with tax optimization, and is recognized for its system's efficiency and client satisfaction.

Advyzon has a history of accolades and growth since its incorporation, including multiple awards like "Best All-In-One Platform" and recognition in client satisfaction. It collaborates through available data feeds and integrations, while providing comprehensive onboarding and ongoing support, including personalized training and a wealth of self-guided resources.

Overall, the document provides a comprehensive overview for successfully navigating technology transition processes, particularly within the financial advisory context, highlighting the value of informed decision-making and efficient implementation.

Keywords

Advyzon

technology evaluation

data migration

implementation

portfolio accounting

client satisfaction

CRM

investment management

training

financial advisory