Investment solutions in UAE is increasingly becoming digitized.
While it is a positive trend, knowing how different technologies can contribute to and alter your management strategies is imperative.
This post will examine the five big technologies influencing investment solutions in the UAE. Let’s get started!
Investment Solution#1: Treasury Software
Treasury software has gained an important place in the investment strategy of UAE’s companies. The reason is their ability to automate critical financial activities like:
- cash flow, and
- asset tracking, to name a few.
It is all about monitoring, analyzing and modeling the future behavior of assets that you can liquify and use for investment. It is why business owners in UAE rely on treasury software to evaluate the possible cash in hand for investment purposes.
Technology #1: Robotic Process Automation
Companies in UAE are increasingly adopting robotic process automation. It involves the use of software robots for easy communication and automation.
Technology #2: APIs
You can integrate the treasury software with other on-premise and cloud-based solutions with advanced APIs. The integration enhances data flow and makes investment planning more manageable.
Investment Solution #2: ERP Software
Many business processes tied to an equally high number of resources keep companies functional. An ERP is an automated solution to manage all these processes together and form a pathway for easy data flow between them.
Hundreds of investments in the UAE, ranging between different business sizes and industry verticals, utilize enterprise resource planning to carry out strategic investments effectively. It plays a crucial role in the planning, budgeting, and predicting financial results for such organizations in the UAE.
New and evolving technological trends make ERP even more beneficial for investment-based operations.
For instance, the UAE readily adopts cloud-based and low-code ERP platforms for accessibility. Similarly, including AI and ML in the traditional ERP has ironed out the minor obstacles and challenges presented before.
Technology #1: AI
In addition to the conventional ERP services, AI’s revolutionary contribution includes:
- intelligent document processing,
- interactive chatbots, and
- automation of routine, rule-based tasks.
Technology #2: IoT
The combination of ERP with IoT is extensively automating investment solutions. It also gives improved data visibility to the managers and customers.
Investment Solution #3: Accounting Software
Investment accounting in modern-day businesses involves several complex aspects.
You may manage it manually, but it’s cumbersome, resource-intensive, and highly unfavourable. On the other hand, accounting software fits into the big picture and serves the purpose of financial modelling.
It manages all aspects of investment accounting and allows you to automate the:
- modification, and
- validation of data.
Some major development areas in the accounting software are:
- Data Analytics,
- Cloud-based accounting,
- System integrations, and
Technology #1: Cloud
Remote access to accounting information via cloud-based accounting software has enabled companies in UAE to explore investment solutions and financial modelling on the go.
Technology #2: Automation
With the rising adoption of tools like AI-based OCR in UAE’s companies, investment solutions in UAE now enjoy the benefits of automated accounting processes like accounts payables, receivables, etc.
Investment Solution #4: CRM Software
There are two essential determinants for financial modelling:
- managing business interactions with customers, and
- analyzing data generated by customer behaviour.
So investment solutions are incomplete without customer relationship management.
Today, CRM in the UAE is primarily based on digitization. In fact, 84% of consumers in the UAE expect to spend more time online. So, if you integrate CRM software with several other solutions and tap the online customer base, it can be the most comprehensive methodology for investment planning.
Some common CRM trends prevalent in the UAE include:
- increased data mobility,
- more integrations,
- self-service customer relationship management, and
- channel-less CRM.
Technology #1: Conversational Tools
Conversational features like voice assistants and chatbots make customer service more engaging, covering all essential aspects of relationship management with ease.
Technology #2: Data Mobility
Data mobility is integral for investment solutions as it delivers the benefits of CRM beyond the confines of office space.
Investment Solution #5: Financial Data Marketplace
Investment and trading firms in the UAE traditionally depend on either their counterparts or the local exchange for investment-related data.
But, the concept of financial data marketplaces has resolved several problems for investment companies concerning data collection.
The incorporation of cloud-based services in the data marketplaces and the development of new tools make this a high-value proposition for businesses in the UAE.
Technology #1: Cloud
Cloud-based financial data marketplaces have successfully created a data ecosystem where all team members involved with investment strategy are on the same page concerning data accessibility.
Technology #2: AI and APIs
A combination of cloud platforms, AI, and application programming interface (API) enables seamless integration with the financial data marketplace. It also ensures smooth workflow management.
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The bottom line
It’s nothing less than a double-edged sword to leverage technology for increased investment opportunities. Unless you know what a particular solution brings to the table, you cannot expect the desired results.
So, an informed opinion about which technologies to onboard for investment management is vital for UAE business owners.