IFA Dataflow Limited

IFA Dataflow

IFA Dataflow was formed to bring business solutions to the Independent Financial Adviser and Product Provider market.

Our solutions are themed around the flow of data from Provider to IFA and providing data that can be utilised in industry back office systems. We use leading edge technology to automate these processes, to reduce costs and improve productivity for the IFA.

Commission Statement Data Capture Service

Sophisticated automated commission reconciliation software can only be utilised when the data is available. Some Providers are now providing EDI commission data for some products. However many Providers and Fund Managers do not; the legacy of IT systems and the shortage of specialist EDI skills mean that paper commission statements from some Providers are likely to be with us for a while yet.

Solution

IFA Dataflow has developed a service that can extract the required data fields from paper commission statements into an electronic file. Once in an electronic form the data can be imported into back office systems to reconcile commission against expectation, similar to an EDI transmission.

Complementing EDI downloads this service allows an IFA to move to a completely electronic system for commission downloads and to eliminate manual re-keying of data entirely.

Service Overview

· IFA Dataflow use scanning, OCR and data capture techniques to extract the required data and to format that data into importable files.

· Data files can be returned to the IFA in 24 hours.

· All UK Provider statements can be processed.