Data quality management

Fundamentally, all Financial Advice and Wealth Management businesses are concerned with the capture, analysis and transmission of data (as well as building good working relationships with their clients). And, as the world becomes more “digitalised” the ability to capture, analyse and transmit data will become increasingly important; in fact, it will become critical to competitive advantage and survival.

For example, over recent months COVID-19 the need to operate efficiently and effectively online has become all too apparent. Some great tools are already available to help adviser firms process and analyse their data, e.g. Power BI, And, tools such as AI, will soon become ubiquitous. But, all of these tools and capabilities rely on one thing - HIGH QUALITY DATA. It’s not just the quantity of data that matters - QUALITY is actually more critical. So, data quality needs to be managed – just like any other asset. Firms need to understand and be clear about way:

  • Why they are capturing data
  • How the quality of data will be measured and monitored
  • What processes they will use to ensure it is captured correctly
  • What processes they will use to ensure it is correctly maintained
  • How these processes will be developed and governed
  • How they will comply with the increasing demands of GDPR, SM&CR, Regulatory Reporting, etc. 

The Time4Advice Consultancy Team are pleased to offer a concise Data Quality Management Audit that will help you maximise the value of your investment in CURO. The Data Quality Management Audit includes:

  • A review of your existing Data Quality use analytics tools, such as Power BI, to identify data errors (FREE OF CHARGE)
  • A review of your existing approach, policies, practices, procedures around Data Quality Management comparing all aspects to Best Practices.
  • A written report detailing the above
  • A set of recommendations as to how you might improve technology within your business.