During the spring and summer 2019 we have put quite some effort in to the development of a side product to Sharpfin Wealth Management Suite (SWMS). This system takes care of all our bank integrations and makes sure that the data which is loaded into SWMS is correct and complete. We have named these two services Beacon and Recon.
You might think that this doesn’t add a lot of value to our product but on the contrary, actually. Not only can we charge extra for this data integration and quality assurance software but we also enhance the user experience in SWMS by better data quality. A lot of our competitors has put effort into develop cool functionalities which is useless unless you have good data quality. Furthermore it means that we can discontinue the third party software we have been running so far which will mean a cut down in expences.
A positive “fringe benefit” of this new functionality, is that it adds to our scalability since it enables our customers to take care of data reconciliation and quality themselves.