Disrupter vs. disrupted: There’s no middle ground
2017 saw a huge shift in how advisors and companies operate. Major advances in deal technology marked the beginning of substantial changes for advisors, investors and corporates alike, the resulting effects of which will drastically transform how businesses are run in the coming years.
Advisors and companies lose millions in deal value and waste millions more in time and resources every year – simply because they are not ready to act wisely and efficiently. They haven’t realized how much their legacy thinking and behaviour is costing them.
January is a time for setting goals and recasting business strategies, and many financial professionals will be finding themselves at a crossroads. Choose to adopt the new technologies that will transform your business plans in the new year, or stay where you are?
Our predictions for 2018:
1. Cost of aversion to change will skyrocket
Successful business leaders and dealmakers are already making 2018 the year they finally end costly legacy behaviours to gain a significant lead on their competition. The move to automated and streamlined processes will allow those at the forefront to spend more time driving business development and propelling growth.
“Time and time again it has been proven that intelligent adoption right at the beginning of a technology cycle leads to huge competitive advantage,” says Dr. Hugh Bradlow, chief scientist of telecommunications and media giant, Telstra.
2. We’ve only seen the tip of the AI iceberg
Advisors and companies have started using machine learning to automate tasks and accurately predict outcomes. Decision-making based on real insights is the most powerful feature yet, and this will become a key strategic piece for dealmakers this year. Being able to get accurate foresight on deal activity while there’s still time and opportunity to change the outcome will give an indisputable advantage to those embracing the technology – and pose a serious problem to those still drowning in numbers and reports.
3. Differentiation will be the most critical and decisive factor
Analysts at KPMG recently discovered that client experience was expected to overtake price and product as the “number one brand differentiator over the next 5 years…with nearly 9 out of every 10 organizations expecting to compete primarily on the basis of how they interact with customers.”
The old familiar coffee meeting and follow-up email won’t cut it in 2018. Clients expect more and they expect it instantly; using the right platform that enables advisors to deliver on these expectations will raise them into a totally separate – and superior – category.
Get ready for what’s next
What advisors do to set themselves apart in 2018 will play a significant role in determining their future success, with the best of them already eliminating inefficiencies to drive faster, safer, more cost-effective deal outcomes.
At Ansarada, our vision is for millions of advisors and companies to run and perform better. We invest our time and energy ensuring we get our clients ready for what’s next, keeping them at the forefront of these predictions and ready for anything with our Platform solution.
Get in touch to find out how you can optimize and accelerate business development in 2018.