This finding emerges from a recent study of the FOX (Family Office Exchange). Accountant and financial work for family offices spend third of their time working on the drafting of financial reports. According to this study, 80% of family offices provide quarterly reports to their customer.
It also appears that the key success factors of a good quality reporting are:
- The taking into consideration the goals of the family
- The respect of the schedule and desired delivery methods
Families who entrust the management of their assets to third parties deserve a treatment at the height of their trust as well as a service through which they can optimally be informed of the results of their accounts. Reporting is the main tool for family offices for customer communication. Therefore, it has a strategic importance to reflect the quality and performance of the provided services.
Answering customers’ requirements also implies a more frequent and transparent communication. Customers have a legitimate need to be quickly informed of their earnings ; the aim being to build their confidence and therefore their loyalty.
KeeSense® is a highly functional and business-oriented software, meeting effectively the needs of family offices in reporting, and enabling them to save time and effectiveness in their daily work.