Choosing the right technology among so many choices is hard. Deciding which technology to adopt and how to best use it are challenges for leaders, especially in a time of rapid change. The focus has now shifted from the cost of the technology to ensuring the right technology is used to fulfill business goals. This guide is designed to help you filter out the noise of new technology choices and focus on six key steps to follow when considering the right technology solution.
Family Office Technology Stack
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In today’s complicated business climate, is your accounting software helping you grow and compete—or holding you back? This guide will help you understand whether it’s time to make a move. You’ll discover:
There’s no doubt that leveraging new technologies and cloud-based solutions offers family offices opportunities to innovate, lower spending, and align their overall technology strategy to current and future-state needs. But the selection and implementation process can be a challenge. Having a structured approach around it will be critical in ensuring a successful outcome.
Family offices have gone through a number of transformative changes, with COVID accelerating the impact of technology on every level. In this webcast, learn how family offices can take a holistic approach to building a technology ecosystem. Key topics discussed include: integrating technology into your family office; how to leverage technology to enhance opportunities for growth; how to take a holistic view of your office’s data; and ensuring your family office is effectively utilizing technology.
The Hidden Costs of QuickBooks
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Most small businesses begin their financial lives using Intuit's QuickBooks, but if your business has moved beyond the entry level, your organization may be facing a number of challenges as you hit the limits of QuickBooks’ functionality. With the right framework and guidelines, you can assess the hidden costs of continuing to use QuickBooks along with the financial upside of switching to a modern financial management and accounting system.
The process of identifying the right technology solution for your family office can be tough, especially if you don't know where to begin. This article details the steps you'll need to take and provides a breakdown of the key business objectives and goals associated with family office technology and software. It also offers a sample family office systems architecture and a look at a new approach to technology costs.
Cloud Technology for the Family Office
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The shift to a full cloud-based model for infrastructure and application delivery is here for family offices, if they choose to use it. The future of the wealth management will include hybrid and convergence solutions (such as co-source), providing a transition from ‘on premise’ to the cloud, especially as legacy vendors try to extend the life of their aging applications. Ultimately, there will be little on-premise IT left. If you are a small- to medium-size family office, many of the benefits are attainable today, and this approach should be part of your strategy.
Digital transformation is here with leading family offices, operating businesses, and advisor organizations embracing emerging technologies—including AI—to optimize their operations and prepare for the opportunities ahead. However, success hinges on more than outlining business needs and implementing technology requirements. With expert perspectives, structured frameworks, and adaptable tools, you'll be in a better strategic position to succeed while adapting to a new and evolving frontier.