3 Keys to Fast Track Client Communications
Everyone in financial communications wants to get performance reports out to clients faster. Firms that get reports out in 4 weeks want them out in 2. Those that get them out in 2 weeks want them out in 1.
What gets in the way?
- Data reporting. If your firm doesn’t have a clear, well-managed process for getting data to your writers, they can’t get going when they need to.
- Too few man-hours. It takes 4-6 hours for a writer to get inputs, write, and finalize 1 report. 20 reports = 15 work days = 3 weeks. And that doesn’t include the hours spent by the folks producing data or reviewing reports.
- Timing. Regulations may prevent you from talking about holdings until after a certain date. You can leave specifics out to speed things up – but is that really a good idea?
- Client customization. Clients who want specific data or templates take extra time.
- Quality control. Rushing can mean mistakes – but more review steps slows things down.
To tighten reporting timelines, you need to anticipate these speed bumps and plan to manage them. You can make a big difference by paying close attention to your:
- Communications format. How many versions of client reports do you need? Can streamlining or reordering deliver them faster?
- Resource model. Are you using the right kind of outside help – and doing so efficiently?
- Process. Do you have an experienced process manager on hand to review snags and create a plan to eliminate them?
Purcell Communications has experienced process managers, writers, and reviewers to help you with effective process management of the quarter-end crunch. We can help you get your client reporting out faster and with fewer headaches.
Want more insight?