This finding emerges from a recent study of the FOX (Family Office Exchange). Accountant and financial working 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 report to their customer.
It also appears that the key success factors of a good quality reporting are:
- Taking into consideration of family goals
- Respect of the timing and preferred delivery methods
Families who entrust the management of their assets to third parties deserve a treatment at the height of their confidence as well as a service through which they can be informed optimally of the results of their accounts. Reporting is the primary tool for customer communication available to family office. Therefore, it has a strategic importance to reflect the quality and performance of services provided.
Respond to customer requirement also requires more frequent and transparent communication. Customers have a legitimate need to be quickly informed of their earnings, in the purpose of increase their trust and, thus, their loyalty.
KeeSense® is a highly functional software, business-oriented, meeting effectively the needs of family offices in reporting, thus saving time and efficiency in their daily work.