Most advisers believe online valuations are the most important e-business development for their business according to 1st Software's latest research.
It polled 400 advisers online, with results showing that 81 per cent point to online valuations as the most vital e-business development to help their businesses.
The results reveal that a large number of advisers are using online services, with 40 per cent saying they use online quotations and product literature in addition to online valuations and e-submission services.
By 26 per cent say they spend more than 10 hours a week chasing client valuations in the traditional way.
1st Software managing director Mik Cons believes obtaining online valuations and being able to produce high-quality client reports are reducing costs significantly for most IFAs.
Origo managing director Paul Pettitt says: “The launch of new standard-based ecommerce services is the results of years of work coming together. Origo its sponsors, and IFAs, have put a great deal of effort into developing the contract enquiry standards and now we are seeing services emerge which make use of those standards.”