Working smarter not harder: the power of digital workflows


In an era where customer expectations continue to rise, simply providing quality advice is no longer enough. Digital workflows are the future for financial advice businesses. In this article, we explore the BT Panorama features that make the biggest difference to efficiency and profitability. 

In our experience, when advisers utilise these digital tools, they not only improve their business operations, but also enhance their client relationships and outcomes.

Let's take a closer look at how you can work smarter, not harder, with digital workflows.

Digital workflows underpin efficiency and profitability

Research shows that advisers who are digitally engaged with clients typically run more profitable businesses - 52% of digitally engaged advisers1 said their practice was more profitable than the year before. This compares to just 30% among non-digitally engaged advisers.2

Yet only 16% of financial advisers currently use a fully automated review process.3 Additionally, a surprising 35% of advisers don’t utilise digital signing, even though it's more convenient for both advisers and clients.4

reduced rebalancing from 2 weeks to 6 hours.5

of clients agreed to move to digital ROAs.6

per week on communicating portfolio updates.7

of work per week using the service request tracker.8

Digital simplification: Three features you can’t ignore

1. Streamlining ROAs

Traditional methods of generating ROAs are time-consuming. BT Panorama's digital ROAs simplify the process significantly. You can:

  • generate ROAs on your licensee template, 
  • request client consent digitally, and 
  • be notified by email when a client responds. 

You can transform a complex process into a simple, seamless, and speedy one, saving precious time and resources.

2. Digital consent

Digital consent is more than just a convenience; it's a multifaceted tool that can revolutionise the way you interact with your clients. Using BT Panorama’s digital consent feature, you can:

  • Open new accounts for new or existing clients, swiftly and securely.

  • Add new bank accounts, pay anyone accounts, or BPAY® billers to streamline your client's financial ecosystem.

  • Secure client consent for investment orders or adviser portfolio rebalancing, with the added option to create an ROA.

  • Facilitate participation in corporate actions, either individually or in bulk, again with the convenient option to create an ROA.

  • Obtain client consent for various advice fees, whether they're one-off, ongoing, or for a fixed term.

3. BT’s Service Request Tracker  

Keeping up with client queries is time consuming and can have you spending multiple hours on the phone.  BT’s Service Request Tracker takes service requests online. All requests submitted by you online are instantly visible and you can access:

  • A business level view of all your service requests, clearly displaying their status and indicating any required actions.

  • Individual due dates for each type of service request, based on a rolling seven-day average.

  • Updates every three hours to ensure you're always working with the latest information. 

Embracing digital solutions such as digital ROAs, digital consent, and online request tracking not only enables you to work smarter but also fosters a stronger and more efficient client-adviser relationship.



1. Used 4 or more digital channels such as digital signature tools, client mobile apps and online meetings.
2. Investment Trends Adviser Technology Report, 2021
3. The Financial Advice Efficiency Report, Iress, July 2023
4. The Financial Advice Efficiency Report, Iress, July 2023
5. BT Whitepaper - Embracing Digital technology case study of Carey Financial
6. BT Whitepaper - Embracing Digital technology case study of Carey Financial
7. Investment Trends January 2023 Managed Accounts Report
8. Based on a pilot BT Panorama ran with support staff. Large practices are defined for this purpose as a practice which hold 2800 clients or more on BT Panorama.



Important information

Information current as at 28 November 2023. This paper has been prepared by BT, a part of Westpac Banking Corporation ABN 33 007 457 141 AFSL & Australian Credit Licence 233714 (Westpac). The views expressed in this paper are those of the individuals alone unless otherwise quoted, and do not reflect the views or policy of any company in the Westpac Group It has been prepared for the information of licensees and financial advisers only. The information contained in this paper provides an overview or summary only and it should not be considered a comprehensive statement on any matter nor relied upon as such. The paper does not contain, and should not be taken to contain, any financial product advice, and has been prepared without taking into account any personal objectives, financial situation or needs, and you should consider its appropriateness with regard to these factors before acting on it. © BT - Part of Westpac Banking Corporation 2023