Why you should buy tech with your whole team in mind


Research shows that advisors who embrace technology tools outperform their non-tech-savvy peers. And one of the main benefits most often cited by successful fintech adopters is added efficiencies.

Yet, even as these advisors use tech to improve the way they work, they overlook the opportunity to use tech to improve the way the rest of their office works as well. According to a study by Salesforce, 86% of employees and executives cite lack of collaboration for workplace failures. And this is in an environment where study after study demonstrates the potential for technology to drive business results through collaboration.

So whether your office has 2 employees or 20, technology has the potential to greatly improve the way your team members work together to serve clients and reach business goals.

The only question is, “are you taking advantage of that that opportunity?” 

Tips on how to find technology that supports collaboration

There are some key indicators that a technology is built to support collaboration. You just need to know how to look for them.

1. Clearly Defined User Roles that Align with Your Team: The most obvious way to tell if a technology supports collaboration is to examine its user roles. How clearly explained are those roles? What can each do? And, most importantly, do those roles match up the actual responsibilities of your staff members?

2. It Promotes Less Talk and More Work: At many companies, employees spend 80% of their time in meetings, on the phone, and responding to e-mails. And, as a rule, work is nearly never done during such tasks. Rather, this time is used to discuss work and talk about what is to be done, with little time left for the actual doing. If gone horribly wrong, this approach leads to the infamous, “meeting about the meeting.” 


So look for a system that cuts through the proverbial red tape by reducing the need for discussions on what is to be done and instead offers opportunities to work together executing.

3. Integrations with the Right Partners: Integrations open the flow of data between platforms, reducing time spent entering data and checking facts. Check to see if your potential platform integrates with the technology that you and your team members already use in their day to day.

For some, finding the right technology can be a daunting task, but it doesn’t have to be for you. Never be afraid to rely on the people around you to not only help you make the decision, but to have an active role in deciding which technology to choose.

Thom Hall