Sometimes, it is assumed that a cloud-based system will provide more data integration opportunities than a locally installed application. But that is a faulty assumption, because there may be significant gaps in the translation interface between two different programs. There are also degrees of integration. Put simply, integration might be apparent on the surface, but as you dig deeper you may find that the data points that you would like to exchange aren't compatible with the other system. Given their design, it is true that cloud-based systems offer more opportunities for integration (especially with complementary systems). This is a great potential benefit especially if you select a provider that aggressively pursues integration opportunities with other technology products. Take time to test the integration with your current systems before you write the check for that new cloud-based system. And remember that good data integration is like a good marriage--it does not happen at the altar but requires the ongoing commitment of the two technology partners involved.
ThinkAdvisor's TechCenter is an educational resource designed to give you a competitive edge by keeping you abreast of new tech innovations and need-to-know information that can be applied to your business.
ThinkAdvisor and the College for Financial Planning have partnered to bring you a series of helpful educational tools that you can use to take your career to the next level.
Millennials are the future of your practice; both as clients and employees. Understand how they think to capture them as clients, attract them as employees...
Hundreds of plan advisors are successfully gaining the attention of CFOs and securing appointments. Learn how with this short video.
Discover how charitable donations of complex assets such as real estate or privately held stock can help them give more to charity, save cash and...
Jun 29, 2017
Join this complimentary webcast to dive into the imperative demand benefits professionals, employers, and HR representatives must meet when it comes to customizing benefits packages,...
Jun 28, 2017
Clients want to discuss health care costs in retirement. We can help break down options and costs so your clients can better prepare.
Jun 20, 2017
Join this complimentary webcast to discover how the top three SMA Mangers of the Year beat their peers by consistently delivering alpha.