Moving to dedicated software brings a lot of opportunity to increased analysis and oversight. During the implementation process, when adding information, it’s important to understand the functionality and analytics available and how the data you enter processes calculations and generates analysis. Looking back at the initial stages, the office realised that they should have taken more time to understand how the platform works before proceeding with the implementation.
Before deploying software, K.E. Skye recommends that other family offices should have a clear understanding of its functionality to avoid any additional work. It is advisable to analyse real-life processes and identify the steps where the technology can enhance efficiency. Prioritising those areas from the outset is crucial during the implementation phase.