MGI Worldwide member FWSR (UK) rollout Circit’s platform to deliver a newclient collaboration experience & save time on bank confirmations

Challenge

Audit Delays

Excel trackers & e-mail threads

Wasted Billable Hours

Strained Client
Collaboration

FSWR Before Circit

‘‘Requests lists were sent to larger clients in excel and often to multiple parties on Auditor & Client side.

With smaller clients there was no standardised process. Questions raised were then converted to email back & forth until resolution. Limited visibility and the cross-over off communication often led to an inefficient process, along with a client experience not in line with FWSR ambition.

For the confirmations procedure letters, fax and others methods were used. With an excel used to track progress and status.

Following up with providers was time consuming if issues arose and visibility poor with no audit trail being created.

Signing documents was a paper based process across the business, relying on individuals to follow up to check documents received and estimate turnaround times. An errors compounded delaying further work’’.

SOLUTION

Client Experience Improved

Visibility Across
All Clients

e-Mail Crossover Removed

Auditor & Client Time Reporting Automated

WITH Circit

‘‘After testing three of our modules, Confirmations, PBC & Signing Documents, the experience
of using one intuitive platform for these three processes has overall visibility and efficiency.

PBC keeps all files and communication in one secure place allowing the FWSR team to maintain visibility and resolve client questions effectively.

With intuitive workflow it allows FWSR clients to easily supply information or ask questions.
The roll-out to smaller clients has meant they have one standardised process at the same level
of client experience regardless of size.

Centralising the Confirmations procedure into one cost-effective platform allowed FWSR to standardise whilst minimising auditor involvement, paper usage and issues around turnaround
times and visibility.

Digital document singing with the Signing Documents module allowed for a friction free experience for overseas clients’’.

“It has been a pleasure to work withthe team at Circit from the outset andthey are very responsive to our queriesand comments. We have found theplatform to be user-friendly and easyto rollout and we've had positivefeedback from our users. It has beena valuable addition to our firm.“
Jane Lowden from FWSR
‘‘FWSR mirror our own ethos of working closely with clients, our collaboration with them has led to one of our most well received updates on our PBC module- the ‘padlock’ functionality which ensures specific queries are visibleto only selected partners.”
Alex Aubrey from Circit

FSWR Before Circit

‍

Inefficiently managed via excel with a mixed process and format; letters, Conf.com and
e-mails.

WITH Circit

Audit Team

Standardised process and a single digital format created a time efficient and simplified process along with cost reductions.

‍

FSWR Before Circit

Clients

Limited involvement required from clients. When a new authority is required, clients have a simple digital signing experience.

Excel based list for larger clients and multiple e-mail threads for follow-up questions and unsecure file sharing.

‍

Single shared platform and workflow provides real-time visibility to auditors and clients. Queries are resolved in-platform and remove email crossover.

Clients gained peace of mind with automatic visibility of all outstanding actions required. Time saved with a user-friendly interface for documents sharing and messaging across teams.

Documents were physically signed and posted to multiple signatories as required, creating sign-off delays.

‍

Made a real difference to the turnaround time of documents, especially with overseas clients. Audit trail provides reassurance.

User friendly steps have increased acceptance by clients and provided a trusted platform to legally sign documents.

Read more case studies