There’s some confusion about how our cloud-based client reporting service works, and how users (reporting teams within investment firms) interact with the system to produce reports so this short blog has been written to address some of the more frequently asked questions that relates to Reporting as a Service – our solution, the leader in this space.
Is there anything to install in our technical environment, or is the whole service installed in the cloud?
With Reporting as a Service, the entire system is securely hosted in the cloud. There is nothing to be installed within the investment firm. The reporting team log into the system via a standard browser, and a standard webpage. Each user has a username and password to access the system. Once the user has logged in, they can use all the screens and dashboards to manage and control the scheduling, production, rendering, review, approval and distribution of their reports to their clients.
How long does it take to on-board to Reporting as a Service a cloud-based client reporting solution compared to a traditional client reporting system implementation?
In-house buy and build client reporting implementations can take anything from circa 6 months to 2+ years to complete depending on the complexity and size of the project. This is because each build is different, the system needs to be installed in the technical environment, and then each reporting element has to be developed and built. With Reporting as a Service, the end to end solution is already built and installed in the cloud. The system simply has to be configured for the data files, the users and the output reports. Typically, this takes 4-6 weeks from start to finish.
What’s the other main differences between a traditional reporting system and a cloud-based reporting service like Reporting as a Service?
Cost is a key differentiator between the two different models. Because the system is already built and simply requires configuration, the on-boarding costs are typically significantly less than a corresponding in-house build. On-going use is also cheaper. Utilising the cloud is significantly cheaper and more efficient than managing and paying for the internal technical infrastructure and people. These savings and efficiencies are passed on via the pricing model to the investment firm. Also, with the Reporting as a Service model, all the support, maintenance, development and operating costs are shared across all the clients, and only charged when used.
Does Reporting as a Service represent a new model?
As we have seen over previous derivations of client reporting systems that steps forward in technology drives and facilitates the direction and pace of the evolution of reporting systems. The cloud is here to stay. The benefits, efficiencies and improvements to the way people work are so significant, it simply cannot be ignored. As with all new trends some firms adopt the new models earlier than others, but over time the majority of firms will embrace the cloud for all types of functions and activities, including their client reporting. Supplier firms will respond to these new requirements by providing cloud based, best of breed solutions such as Reporting as a Service.
Like all great solutions, our reporting service is simple to understand and use. Your data, your team, our system, your reports.
Reporting as a Service is cloud-based reporting service that provides investment firms with a complete end to end client and fund reporting solution, that is flexible, scalable and future proof. This allows users to manage and control the entire process and provide reporting of the highest quality to their clients.
To find out more about Reporting as a Service and how it benefits Wealth and Asset Management firms please visit our website at www.opus-nebula.com and email [email protected] to arrange a meeting and see a live demonstration of the system.