Onboarding is often an unnecessarily complex process.
All too frequently, errors and delays lead to client frustration and disengagement.
That’s why automating Letters of Engagement is key to speeding up and streamlining your client onboarding process.
Issues with traditional Letters of Engagement
The traditional, manual process of preparing Letters of Engagement can be very time-consuming and prone to error.
From searching for information to writing, reviewing and sending the Letters, the whole process can take several days – even longer if the client is tardy in signing and returning the document.
Data entry, often duplicated across multiple platforms, becomes a breeding ground for errors and delays in the process.
This not only impacts operational efficiency but also affects the client’s first impression of your firm.
A cloud-based, automated solution for Letters of Engagement ensures a seamless flow of information, reduces the risk of errors, and significantly improves the efficiency of the onboarding process.
Automation with customisation
Automatic creation and sending of Letters of Engagement using templates offers a quick, efficient solution to manual processes.
This means nothing gets forgotten in the system, so the onboarding process can move as quickly as possible.
By automating Letters of Engagement, you can eliminate redundant data entry and reduce the likelihood of errors.
This approach not only saves time but also ensures the accuracy of information from the outset.
However, saving time with automation does not mean compromising on customisation.
The best automated Letters of Engagement solutions provide fully customisable templates that can be tailored to both your firm’s needs and your clients’.
This enables you to provide unique Letters for each client, whilst benefitting from the accuracy and efficiency of automation.
Client experience
A smooth Letters of Engagement process also sets the tone for a positive long-term relationship.
With an automated process, clients can receive notifications when new Letters of Engagement are available, improving communication and enabling a quick, efficient digital exchange.
This demonstrates to clients that you value efficiency and organisation – a key differentiator in a competitive professional market.
Improved compliance
Compliance is a critical concern in professional services.
By automating your Letters of Engagement, you can maintain accurate, up-to-date client agreements and ensure adherence to industry regulations and internal policies.
Integration and scalability
The best automated Letters of Engagement solutions are integrated with other software for a fully joined-up onboarding process.
For example, Summa Tech’s client portal software enables you to upload, store, and access Letters of Engagement safely and securely in our client portal.
The client portal tool helps firms comply with regulatory requirements, including features that assist with GDPR compliance. It also creates audit trails of all Letters of Engagement, helping you to maintain accurate records and comply with legal requirements.
An integrated Letters of Engagement system is also inherently scalable, capable of accommodating an increasing number of clients without a proportional increase in workload or complexity.
This enables your firm to handle ad hoc and ongoing engagement requirements with ease.
Automate Letters of Engagement with Summa Tech
Automating Letters of Engagement is essential for any firm looking to boost efficiency, improve compliance, and promote a better client experience.
Our Letters of Engagement feature is fully integrated into our end-to-end onboarding solution, ensuring a standardised, efficient process.
From initial onboarding through to ongoing client management, our solution offers everything you need for a streamlined, fully compliant onboarding process.
For more information on our Letters of Engagement feature, or to book a demo, please contact us today.