In the year 1993, Bill Clinton become president of the USA, the blockbuster Jurassic Park was released and from a small board room in Australia, Iress was birthed. In 2019, Iress are a leading software supplier within the financial markets, wealth management and mortgage sectors with offices around the world.
XTOOLS is IRESS’ full cash flow modelling system that provides advisers with the ability to model multiple different scenarios and create a future plan for the client to follow in order to achieve their financial objectives.
The system has been built to provide a great depth of analysis options and integrates with IRESS’ CRM tool – X Plan. Within the players in the cashflow Market, IRESS are one of two players that integrate with a CRM tool. The tools provides smooth integrations, has extensive tax functionality and calculators. The system a wide range of functionality and the output reports can merge multiple reports such as letters and cash flow reports.
“IRESS’ XTOOLS provides depth of analysis that is superior to most and the integration with their CRM tool XPlan, is not often seen amongst Cashflow planning solutuions.”
- IRESS XTOOLS provides the ability to run projections past 100 years of age.
- IRESS XTOOLS provide a picture of how investments will grow over the course of time and base this on underlying assets as well as providing the ability to enter expected growth rates.
- The tools provives the ability to prioritise goals which is importnat as every client will have a different set of goals.
- IRESS XTOOLS provides advisers the ability to demonstrate the need for protection and the IRESS suite encompases varios tools that allow this.
IRESS XTOOLS is a great system but the system doesn’t link with Personal Financial Management tools which can be used to highlight customer spending.
The tool also doesn’t link to customer accounts and fails to utilise open banking.