2023 Major Release 1 - Elements CRM

We are proud to reveal the first Major Release of 2023 for Salentica Elements!

This release aims to help solve for the ominous feelings of being bogged down managing business processes. Through this release, Elements 2023 is here to transform that experience.

Workflow Manager

Workflow Manager will revolutionize the way you use Elements, making your business processes more streamlined, efficient, and adaptable to your requirements. Workflows can be triggered by client requests and/or used to manage internal business processes. With our new Workflow Manager, you won't just be automating tasks – you'll be reclaiming countless hours of manual oversight, ensuring no steps are missed.

Workflow Manager is designed to help ensure business protocols are followed, steps are not missed, and efficiency and productivity are increased for your team. Included in Workflow Manager is the ability to automate the assignment of tasks as well as the use of approvals and checklists. We have also included a new "Related To" multi-object lookup feature. To improve data organization and provide enriched insights within the Workflow.

Workflow Manager can be broken down into 3 parts: Workflow Templates, Workflow Launcher, and Workflows.

Workflow Templates

Workflow Templates hold the details and steps necessary to complete your business processes and serve as the foundation for the Workflow Manager function, able to be copied by the Workflow Launcher to create new Workflows, having access to view, edit, and create new Templates at will.

Engage comes with six preconfigured Templates which one can clone and edit to design your own internal processes. This makes it very easy to get started with designing your own internal workflows.

Workflow Launcher

Workflow Launcher is the tool that copies all the data and details from the Workflow Template into a new Workflow.

Here you can assign the appropriate Relationship and add any pertinent and specific details for the Workflow in the Description, but the rest of the necessary information from the Template will populate once you save the Launcher, saving you time and effort.

The Workflow Launcher allows you to add or edit the details of a Workflow Template before launching it. Then once satisfied with the configuration, switch to "Active" and kick off your Workflow.

Workflows

A Workflow is created once the Workflow Launcher process is Completed. The Workflow is where the designated Steps will automate the assignment of tasks, checklists, and approvals, in the corresponding order, to the assigned team member or role for the specific Workflow.

Workflows are where your team can view and work on their assigned Tasks from the Workflow itself.

A Workflow will remain in an "In Progress" status until all tasks in the Workflow are marked as Complete, reducing any confusion as to where progress lies on a task.

Workflows are designed for quick and easy setup and ease of use for all users. Workflow Manager is certain to transform your business processes and save you time and energy!

Enhancements to Wealth Management

Related Contacts Report

We have created a new custom report type that shows Contacts associated with a specific Relationship and the specific roles of each Contact. This will help see who belongs to a Relationship and their role within that Relationship whether they are direct members such as parents, grandparents, or children; or indirect members such as attorneys, consultants, or accountants for example.

This provides a comprehensive view of the Relationship, enabling you to understand the complete landscape of individuals involved in the decision-making process, and allowing you to tailor your communication and engagement strategies accordingly.

You can create a variety of Reports based on this custom report type, and enhance these reports with editable charts.

Fueling strategic decision-making, minimizing duplication, and improving continuity and succession planning.

Financial Accounts Form

To enhance the navigation and elevate the user experience, we have redesigned the default page layout of the Financial Account object for Elements. This refinement focuses on increasing usability and streamlining the user experience.

There is a separate Holdings page layout which now has a dedicated section for Asset Allocation and a related list for the Holdings custom object, which allows you to memorialize and record critical details for departments across the entire organization, not just those with dedicated access.

Address Manager - Inherit Address from Relationship to all non-primary Contacts

Previously when changing the Billing or Mailing Address fields on a Relationship, only the Primary Contact's address would update. Now non-primary Contacts associated to the Relationship and have the Inherit Address Relationship Mailing/Billing Address field as ‘Checked’. This will increase efficiency and consistency between Contacts on the Relationship and reduce manual data entry.

Notify Relationship Owner when Task Completed

With a new Lightning Flow automation, checking the box on the Task Details page Notify Relationship Owner when Completed will send an email to the task owner once the task is marked complete. This further reduces assignment confusion on workflows and decreases the time it takes for a workflow to complete.

Time & Expense Efficiency Ratio

We now offer a YTD and 12M Efficiency Ratio calculation on the Relationship under Time & Expense. This will allow advisors to see how much clients are consuming their time. The calculation is as follows:

Efficiency Ratio (YTD) = Expenses (YTD) / Annual Revenue

Efficiency Ratio (12M) = Expense (12M) / Annual Revenue

Increased Decimal Places for Contacts Age

The decimal places for age have now been increased to 4 to correctly reflect a Contact's age. Previously the system showed only whole numbers and rounded up an age a day earlier. With this latest enhancement, ages will show accurately as needed for such features as RMD reporting.

New! Government ID Expiration Alerts (Optional)

Using Salesforce Lightning Flow, we’ve created an optional automation that will keep an eye on expiration dates of government-issued IDs, both Driver's License and Passports. When a Driver’s License is set to expire within the next 30 days, or a Passport within the next 6 months, an automated email reminder is sent to the Contact's owner.This will prevent any authorization issues as a result of an expired government ID.

Send List Email for New Business

Under New Business, you now have the option to send a list email to a Contact's primary email address in bulk from a List View. Select the list items you want to send an email to and the email will show on the contact's Activity list, reducing manual input and the need to individually craft emails with the same message.

Enhancements to Asset Management

Investment Account External ID & PMS Account Number

To offer a more comprehensive view of Asset Management Investment accounts, we've introduced the External ID and PMS Account Number fields. These additional fields allow for more detailed data integration, improving data accuracy and ensuring you have all the necessary information at your fingertips. These fields will flow in via the Data Broker daily upload.

Contributions and Withdrawals on Investment Accounts

The Contributions/Withdrawals custom object has been designed to provide firms with a comprehensive view of the financial activity linked to all active Investment Accounts in the Salentica Elements Asset Management app, allowing for a quick glance at an account's activity.