Managing trust accounts is a big part of a law firm's business. Carolyn Mason from ASB talks about how Professional Trust Online is an effective and efficient way to do this.
Video transcript below:
Reporter: Trust accounts are a big part of a law firm’s business and managing them efficiently is therefore a major priority. ASB’s Professional Trust has moved from a software based system to a web based platform. Carolyn Mason from ASB explains the benefits of what this allows firms to do.
Carolyn Mason, Manager Professional Business, ASB
Carolyn Mason: Specially what this allows us to do is everything is online real time and you are able to access these details on any NCC enabled device. Now this means that there is no more installations or updates of software. By having Professional Trust on ASB’s FastNet business, all of our users now have one logon, which means that they can access it from anywhere and authorise payments from in and out of the office . The key benefit of moving Professional Trust online is that all your information is accessible and upto date online real time.
Another benefit is the simple intuitive work flows that makes it more efficient. Along with this, you are able to authorise multiple transactions at the same time. We have also enhanced the client suite features to make it easy to find accounts that you are looking for.
There is now more comprehensive reporting available which includes search and display options. This in itself gives greater functionality to our clients in terms of the details that they look for in our reporting. In addition to FastNet business, there is also the ASB business mobile app which gives you the added flexibility of authorising payments from your mobile phone.
Reporter: Professional Trust looks and sounds like an efficient way to manage trusts, but how does it stack up in the real world? We asked Tim Jones and Amanda Stuart of Glaister Ennor how the product works for them.
Amanda Stuart, Financial Controller, Glaister Ennor
Amanda Stuart: At Glaister Ennor we now have all our operations in one system and these partners only have to operate one password and we are not in and out of two systems.
So it’s more efficient for us to operate.
Tim Jones, Partner, Glaister Ennor
Tim Jones: Well as a firm we are a very property related firm, we provide a lot of services to clients and Professional Trust has helped us a great deal to be able to service our clients. It helps us to provide analysis and documentation for clients. Dealing with the trust accounts has been first class in terms of being able to deal with clients’ funds and the support we get from Professional Trust has been immensely helpful to make it more efficient for our clients and for ourselves.
Reporter: If you’d like to know more about ASB’s Professional Trust, visit their website or contact the number onscreen.