Practifi Cabernet Franc Release Notes
BY finn gilbert
Practifi
We’re excited to introduce our latest product release, Practifi Cabernet Franc.
Originally from the Bordeaux region of France, Cabernet Franc is one of the world’s most age-worthy grapes. Cabernet Franc thrives in cooler climates where it develops its signature tart fruit flavor and other notable characteristics. Due to its naturally high acidity, Cabernet Franc wines pair well with roasted meats featuring herbal notes. Cabernet Franc grapes also add freshness and elegance to much-loved red blends when mixed with Cabernet Sauvignon and Merlot.
Similarly, Practifi Cabernet Franc adds finesse to Deliverables and workflow automation in this release. With a variety of new features and enhancements designed to make client servicing easier and processes smoother, there’s something for everyone to enjoy.
Practifi Cabernet Franc will be available starting from February 12, 2024. If you have any questions or want to learn more, your Client Success Manager will be happy to help. You can view the more technical product release notes here.
Key Highlights
Better Understand Deliverable Fulfillment
Gain a better understanding of Deliverable fulfillment with a suite of new enhancements including but not limited to tracking overdue Deliverables, managing exceptions and updates to standard reports. Deliverables help ensure your teams are providing the best possible client experience and these enhancements make it easier for your teams to do so.
Track Overdue Deliverables:
Stay in control even if you miss a deadline. Advisors can keep Deliverables open until they are fulfilled and choose from a range of new outcomes such as fulfilled on time, fulfilled late, missed or excepted. These new options help advisory teams record Deliverable fulfillment more accurately.
Manage Exceptions:
Teams can mark Deliverables as Exceptions when they can’t be met for a good reason, ensuring client service metrics aren’t negatively impacted. Certain users can also manage and update exceptions in bulk to save time.
Monitor Fulfillment with Updates to Standard Reports:
To account for these new Deliverable outcomes, we’ve updated 3 standard reports to ensure Managers can better understand Deliverable fulfillment across the firm. The following reports have been updated: Fulfill. % by Division, Owner & Type YTD, Fulfillment % by Owner YTD and Fulfillment % by Service Type & AUM YTD.
Tackle complex processes with Flow Builder for Active Forms
Administrators can now build Active Forms in an alternative way, via Flow Builder. Admins can also leverage the power of Active Forms’ dynamic record tables, empowering teams to update multiple records at once. This serves as a foundational building block for addressing even more intricate processes. With more power, flexibility and automation options, Flow Builder for Active Forms helps firms tackle their most complex processes and provide a better user experience for advisory teams.
Other Product Enhancements
Deliverable Fulfillment Activities
Administrators can now simplify Deliverable fulfillment with Fulfillment Activities. By activating the “Auto Create Fulfillment Activities” option in Settings, firms can efficiently define and assign work items such as reminders, Task Templates or Process Tasks to advisors.
Deliverable Sidebar Improvements
Teams can navigate a more user-friendly sidebar when fulfilling Deliverables within Task or Event records. Select Deliverables in “Available for Fulfillment,” then move to “Marked for Fulfillment.” This two-step process ensures accurate reporting, preventing mismatches between fulfillment and activity completion.
Assignment Settings for Deliverable Types
Administrators gain the capability to distribute ownership of Deliverables among team members, fostering clear accountability and defined responsibilities. Teams can select from the following assignment types: Service Owner, Deliverable Type Owner, Entity Owner, Role and Business Role.
Deliverable Statuses
The new Status field on Deliverable Types offers teams three options to choose from: Draft, Active and Inactive. Easily manage under-construction or phased-out Deliverables and prevent them from appearing on Services. Advisory teams can still view and edit Deliverables when they are set to Draft or Inactive, giving them the ability to refine, review or exclude these items as needed for a more accurate workflow.
Deactivation Capabilities for Deliverables
Administrators can now deactivate individual Deliverables within an active Service using the new Status field on the Deliverable record. The Cancel Service button on the Service record page and related lists enables the deactivation of all Deliverables within one or more Services simultaneously.
Deliverable Descriptions
Administrators can now provide a more detailed explanation of a Deliverable’s purpose and instructions by adding a Description field on Deliverable Type records. Advisory teams can view this description on the Deliverable record page or by hovering over the info icon next to a Deliverable in the side panel of a Task or Event record.
Control Access to Deliverables
To ensure data integrity, advisors are now restricted in their ability to edit Deliverables by default. Only the Name and Description fields are editable unless the advisor is assigned the new Manage Deliverable Settings permission set.
Sync Deliverables with Services
Administrators can easily link Deliverables with Services via the ‘Sync with Services’ action on the Service Type record page. This not only creates new Deliverables but also updates existing ones to align with recent changes made.
Microsoft 365 Event Sync
Two-way event sync re-enabled with more controls for individual sync preferences. Includes fixes for race condition and attendee list sizing, ensuring accurate event updates between platforms.
Black Diamond Integration
Provides an alternate API for Black Diamond firms wanting to use the Relationship as the key record rather than the Portfolio ID.
Practifi Success Article Links
Hyperlinks have been added to Practifi’s Success Knowledge Base on the Additional Features page in the Settings app for Security Check and RMD Management.
Permission-Based Goal Visibility
The Goals option appears on the Additional Features page only if the Practifi – Additional Features – Goal permission set is applied.
Want to learn more?
Your Client Success Manager is here to help. Let them know if you have any questions or would like to learn how to make the most of these product capabilities.
