CoMetrix Financial KPIs

Overview

All financial services organisations require accurate and timely financial information that will help senior staff to make informed financial decisions. The raw information which is used to create management reports is derived from a variety of sources. These can include:

  • portfolio information from client management systems,
  • income information from commission systems,
  • budgets prepared by financial management,
  • performance targets agreed between dealer groups and principals, and
  • expense information obtained from practices.

The effort involved in gathering the raw data from disparate sources, then distilling and integrating it to produce meaningful management reports can be significant and time consuming, and this means that the information is often not available when it is needed. The complexity means that it is extremely difficult to make comparisons between groups of practices, and it is certainly not feasible to produce such comparisons within a reasonable time frame.

Data Management

The data management tools provided within CoMetrix KPI allow financial services officers to gather, distill and integrate raw financial data from disparate sources.

CoMetrix KPI provides tools that enable the upload of journal files in Microsoft Excel format, and validation, viewing, posting and reversal of the journals.

Adjustment journal files can be uploaded to correct errors. The integrated data is posted to a time series journal database, at the level (adviser, practice) at which it is captured.


Analysis and Reporting

The journal database is accumulated up the adviser/sub-office/practice/BDM/dealer group/institution hierarchy to form a reporting database.

Powerful reporting tools accumulate and integrate the reporting data into a series of web-based management reports. The system uses a unique multi-level reporting architecture that defines different reports for different audiences at each level of the hierarchy.

Information privacy is guaranteed because the scope of information is restricted to the level of the hierarchy being reported upon. For example, a BDM may view reports pertaining to his/her practices and advisers and a principal may view reports pertaining to his/her practice and advisers. Practices may be reported on as a consolidated practice or as individual offices.

Reporting may be performed on a fiscal or calendar year basis, and month and year to date breakdowns of actual or budget performance for the selected period and how it compares with the same period in the previous year. Performance reports may include raw and calculated metrics.

Reporting by Product

CoMetrix can be used to drill down metrics such as inflows, outflows and FUM, to the product provider detail level. This allows dealer groups to track the performance of products, and can be used to help manage preferred product programs.

Ownership Reporting

The reporting system caters for "ownership companies" that own different practices for different periods over time. Many of the reports can be run at the "ownership" level, providing a consolidated ownership window into the financial performance of all the practices that the ownership company owns. This capability sets CoMetrix well apart from most reporting packages.

Scope of Reports

Reports, which are customisable, and include graphical visualisation tools, include:

  • performance reports,
  • trend reports including breakdown by BDM, practice and adviser,
  • sales reports including breakdown by BDM, practice and adviser,
  • inflow/outflow and FUM reports including breakdown by fund manager, BDM, practice and adviser,
  • profit and loss reports including breakdown by BDM and practice,
  • "health check" reports including breakdown by BDM and practice, and
  • comparison reports including comparisons between groups of practices.