Demand for back-office solutions is growing - Paragem
Paragem Dealer Services has reported growth in the uptake of their risk management, compliance support and practice management systems, with two current clients increasing the services they use.
With 20 small dealers currently using Paragem's customised practice management system (Model Office), Affinity Wealth Services has engaged the company to improve its back office capabilities, Paragem stated.
Paragem managing director Ian Knox said Model Office provided planning practices with the process improvements which lowered compliance and back office costs.
The growing demand for Paragem's services reflected planners' desire to streamline their businesses, while the current climate of legislative reform also made it an ideal time to restructure software, Knox said.
Affinity managing partner Keith Jones said the partnership with Paragem complemented Affinity's independent and professional advice offering.
"We wanted to make sure our strong advice and investment service offering was supported by reliable operational systems, and it was important that those systems enabled us to focus on the part of the business that is most important, providing advice and managing risk for clients," Jones said.
Carnbrea & Co Limited have also turned to Paragem to assist with its risk management and compliance needs, particularly in regards to governance and process improvement.
"We're looking forward to growing our business with the support of Paragem and the experience it brings dealing with complex and compliant advice models," said Carnbrea chief executive officer Robert Lyon.
Outsourcing part of the compliance programme but linking it to internal requirements has enabled Carnbrea to access independent, high quality support and establish the necessary level of governance it demands, Knox said.
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