After 15 years of building and fine tuning a Workflow Management System within our own successful Financial Planning practice, Abracadabra have release The Abracadabra Workflow Management System. Acting as an end to end navigation system for Xplan, the system enables advisers to utilise Xplan easily and effectively for the day to day operation of their business. It manages the consistent delivery of CVP’s and ensures FOFA obligations are met.
| End User | Planners |
| Advice Process Steps | Implementation Review |
| Benefits | Manage CVP Manage all FoFA requirements Inbuilt Procedure Manual for staff training Process Efficiency Engagement Uplift Time saving Cost to serve reductions Compliance Benefit |
| Cost per user per annum | $500 – $1000 |
| Time saving per client | More than three hours per client |
| Cost saving per client | Savings relate to business rather than client. Once implemented savings equal a minimum of 1 admin wage ($45 – $65k p.a.) |
| Integration | XPlan |
| Website embedding | Not applicable |
| White labelled | Yes |
| System prerequisite | The system is currently available for integration into Xplan. We are researching the viability of other providers. |
| Single sign on | Not applicable |
| Data storage | Within XPlan |
| Privacy standards | Not applicable |
| Limits on use | No |
| Disaster recovery and business continuity plans | Business Continuity Plan only |
| AFSL approval | We haven’t sought approval from any AFSL’s however Macquarie Bank are promoting through their channels and we are in discussion with a number of other licensees. It’s worth noting that The Abracadabra Workflow Management system was released in April 2018. |