News and Updates
Panoramix Increases Flexibility of its Advisory Billing Systems
Innovative performance reporting and billing technology system adds new payouts subsystems to simplify, streamline and accurately manage multiple billing recipients
EAGAN, MN. October 13, 2020. Panoramix™announced today the release of a new technology feature to better manage billing when advisors are working with multiple parties.
Panoramix now allows firms to establish as many fee recipients as they desire, such as third-party money managers, distribution arrangements, and more, in addition to a few key pre-configured items like firm and advisor. Advisors create Payout Schedules, which may include a combination of flat fee payments, percentage of the fee, or percent-to-basis appointments.
"With this continued investment in the platform advisors are gaining more value and benefits, said Chris Hastings, CEO. "Our payout schedules allow advisors to specify that a certain participant receives the remainder of the fee, in cases where there are distribution arrangements or when separate account managers are part of the client relationship. That way they don't need to worry about whether or not their percentages come to 100-percent. Panoramix auto-balances that payout for them."
Advisors apply payout schedules to individual accounts or entire household portfolio collections with a single click. From there, the billing system calculates both the income stream and the payout stream with a single fee calculation. Easy export to Excel™ allows for integration with accounting systems, fund disbursement tools, and meets compliance needs in terms of retention of proof of proper calculation.
Panoramix has recently deployed the new feature set and is already hearing from advisors how it is helping their businesses. "Early adopters have provided excellent feedback," Hastings said, "one advisor was able to simplify from nearly 100 fee schedules down to Five."
Panoramix, already recognized as the number one platform for customer satisfaction two years in a row in the prestigious T3 Advisor Technology survey, introduced this new best-of-breed functionality without increasing base pricing or creating a modular-based pricing model. "Our pricing model is simple and transparent," Hastings said, "We kept it that way with this major enhancement to the platform, keeping Panoramix the best value in the industry."
Sapphire Software Services inc., a custom software and business-to-business automation company founded in 2003, developed Panoramix® for financial advisors in 2013 and completes 16 planned releases per year to the product. Sapphire brings business applications to the web, provides consulting services with the best vendors and partnerships, and offers professional development capabilities to automate business processes. Sapphire specializes in business application software development for companies in the financial services sector. Panoramix, its award-winning flagship software tool for portfolio management for financial advisors, focuses on providing multi-custodial performance reporting and client billing, with a wide-ranging additional feature set. Sapphire markets under the name Panoramix Financial. For more information on Panoramix connect with us at www.panoramixfinancial.com.
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