Every business struggles to get the right information to the right people at the right time. Scorecards and dashboards have been in use for many years and can be a very effective means of condensing large volumes of data into a visually appealing snapshot. However the reporting has historically been static, high level and often inconsistently applied throughout the organisation. Using the latest analytics technology it is now possible to build real-time management dashboards that allow users to slice and dice information using filters and drill-through capabilities.

Rebase can help you to design a suite of management dashboards that are seamlessly integrated across the organisation in a way that breaks down silos and facilitates collaboration. The dashboards can be configured for desktop and mobile devices so every decision maker can monitor key metrics and make informed decisions wherever and whenever they want. Automated dashboards reduce the overwhelming burden of producing management reports meaning more focus can be devoted to their application; enhancing advisor productivity, increasing efficiency, reducing risk and delivering the client experience.

It is a well known fact that most organisations' annual budgeting process starts with the end number and works backwards to justify the result. However the volatility seen across economies, industries and markets in recent years has highlighted the need for more rigorous scenario modelling as we all try to forecast what the world will look like next year, in five years, or in 25 years based on a series of assumptions.

The Rebase approach starts by identifying the key levers and drivers of your business (e.g. economic growth, market returns, client acquisition, asset allocation) and considers the dynamics of how they interact. By applying statistical rigor to historical trends and industry benchmarks a more accurate forecasting model can be created that will facilitate better decision making and resource planning. Assumptions can also be recalibrated and stress tested under extreme scenarios to provide better visibility for contingency planning, risk management or risk avoidance.

Correctly defined key performance indicators (KPIs) are essential to align the employee’s day to day priorities and actions to the organisation’s business strategy and objectives. However KPIs are not just about monitoring the dials on a scorecard, they are about moving the dials through better decision making, strategic projects, process improvement and motivating staff by recognising and rewarding outstanding performance and behaviours.

Key risk indicators (KRIs) are designed to monitor the impact of changes within the business that could present a risk, or potential risk, that exceeds the defined risk appetite. By identifying and monitoring a balanced selection of performance indicators, trends and early warning indicators (EWIs) Rebase can provide real time intelligence on the performance of a business towards its strategic goals in the context of the risk management landscape.

The Pareto Principle (or 80-20 rule) suggests that 80% of a company’s profits come from 20% of its clients. If this is the case, it opens up some very interesting questions; do you know which clients they are? Are you prioritising them appropriately? Do you have service tiers in place or are you over-servicing the remaining 80%?

The revenue generated by each client is usually clear so the biggest challenge in measuring client profitability is the assignment of costs. Rebase can help you to determine the optimum methodology to allocate distribution costs, product manufacturing costs, central overheads and cost of capital to the underlying client level. It is then possible to evaluate the relative profitability and ROE of each client (across the entire relationship) and benchmark this against their geographic region, risk rating and service tier. This will ensure that your most profitable clients receive the service levels they deserve and your underperforming clients can be targeted for up sell, cross sell or de-marketing.

Similar to client profitability, many organisations struggle to understand the actual cost of delivering a product or service. Direct costs are usually clear but the costs associated with central functions and infrastructure are often allocated based on complex business rules and utilisation models. Rebase can help you to unravel the true product costs and assess these relative to the industry to uncover competitive insights and identify opportunities for improvement.

Once the cost drivers are clear it is possible to construct a robust pricing strategy that will deliver the right level of value at the right price to be both competitive and profitable. Few levers have as much power to influence profitability as pricing yet many companies do not have a clear pricing structure in place or repeatedly offer bespoke terms based on perceived relationship value or competitor hearsay. Rebase can analyse your client data to identify revenue optimisation opportunities (potential quick wins) and develop pricing models to test pricing scenarios and assumptions.

Wealth management is a people business and relationship managers (wealth advisors) are considered the driving force behind new client acquisition and revenue generation. However relationship managers are an expensive resource to hire, train and retain so it is very important to understand the cost-income dynamics of new hires before making those key resourcing decisions.

Using historical sales data (a universal KPI) Rebase can help you to understand the typical lag time between hiring, client acquisition, asset accumulation and revenue generation across the markets in which you operate. Break even analysis and ROI models can then be created per relationship manager and the overall impact that your hiring plan has on your income statement can be determined. The models can also form the basis of KPI targets with all new hires being expected to validate against the model(s). (Different models may be required to take into account regions, markets, experience etc.).