Building trust, both internally and externally, is the mantra of the asset management community today. What does this mean? For any initiative more reporting and more cross checking. As the community welcomes the opportunity to provide the right products
at the right price. The challenge (which is often overlooked) – can we bill for these products in an accurate and transparent way, furthermore, are we able to do this in an operationally effective way? If not, we’ll be back to the same old problem – manual
processes with spreadsheets, incorrect bills and a likelihood that clients will be under billed or overbilled.
Inefficient billing impacts the predictability of revenue and leaves clients wondering if they can trust the charges they’re being asked to pay. So the smart route to building that trust and ensuring the revenue you are predicting is real, is accurate billing.
The good news is that this path has been trodden and is easy to do, it just has to be put on the to-do list. A quick review will soon tell if you're in shape for delivering predictability of revenue against the changing asset management landscape.