Imagine you have been in the sub-broking business for a few years now – your sales team works day and night to catch new leads and these leads engage with you and commit investments regularly too. And yet somehow, your income at the end of the month has not grown as per your expectations in the last 3 years (although the Nifty50 has grown from 10,989 to 17,736 in the same period). You will probably worry – what is the problem in the business process that the overall monetisation of your user base is not growing at the expected rate?
To answer this important question, Angel One is coming up with the business metrics section of the NXT 2.0 platform (i.e. the online platform of Angel One to support our authorised person partners).
How Business Metrics helps sub-brokers
Sub-brokers (currently known as authorised persons) see the numbers related to the performance of their business change constantly as their clients make new orders every day. Therefore, it becomes hard to keep track of all the cash flows involved and summarise them, so as to check how the business has performed overall in any given period of time. Manually, it is next to impossible – but it is not just possible but highly efficient with the help of NXT 2.0.
NXT 2.0 gives a 360-degree view of your business through the following features –
- Month till date (MTD) and Year till date (YTD) revenue data to check revenue obtained in the current month or year till today.
- Real-time data on business metrics with a mobile view so that you can access the data anytime, from anywhere.
- Segment-wise turnover information that can be easily sorted, filtered or hidden as per your wish so that you can analyse your data efficiently.
Fig: Business metrics summary
Fig: Individual client metrics
This means, even while on the road, you can check which products are giving the highest revenue from your clients today or which client has made what level of investment in each category of securities.
Once you have this level of detail as well as the capability to analyse it via different approaches at will, you will automatically be ahead of all your competitors in your area and beyond. This is because, while they will be bogged down trying to calculate their revenues, trends and segment-wise returns, you will already have created sales strategies to target the various categories of customers and put those strategies to good use.
The sub-broking business is a cutthroat one that requires the business owner to be constantly in touch with not only the market but also their own customer base. Business owners should be spending more hours formulating the right sales scripts, assortments of financial instruments to offer and hiring the right people – day-to-day work like calculation of the day’s revenue should be done by software like the one presented above.
At Angel One, it is our mission to keep providing our beloved partners with the best technical support available in the market. Join the Angel One family as a sub-broker today!