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Improve Efficiency With Custom Data
22 February 2022
In our Expert's Corner series, we share tips on how to get the most out of EQ Riskfactor. This month Richard Pride examines how Custom Data helps our clients manage their risk more efficiently.
Did you know that you can now create your own Custom Data within EQ Riskfactor and record what’s important to you? Our newly enhanced functionality gives you more flexibility than ever. Read on for tips on how to get the most out of EQ Riskfactor.
Where To Find Custom Data
You can access Custom Data by highlighting a client within a Grid and clicking on Entity Properties. From here, a user can do a variety of things including writing free text, inputting financials, choosing from a list of dropdowns, and tracking dates.
Create Your Own Custom Data Fields
From version 4.24 onwards, EQ Riskfactor allows users to create their own Custom Data fields, meaning you can change data quickly and as often as required. At the beginning of the pandemic, many of our users requested an option to record how particular clients were faring as a result of lockdown, and to track the financial support they might be receiving. Creating your own Custom Data now makes this possible. As we move into post-Covid life, now might be the time to reassess how you use Custom Data to match the new challenges your business faces.
Schedules And Custom Data
It can be tempting to use Schedules to monitor key risk events for a client, instead of monitoring the tangible pieces of information they were designed to track. Custom Data can store multiple types of information, from text to dates, making it easy to capture all relevant information in one place.
One example might be checking for volume rebates, where the date the information was received, and the total value of the rebate, can be entered easily within Custom Data. As the information is updated and saved, an audit trail is automatically added to the Entity Event History.
Consider Including Custom Data In Portfolios And Grids
You can include any Custom Data as a Criteria for a Portfolio, and the information entered for each field will be displayed within any Grid. This allows users to compare and track clients with additional data, on top of that received from the source system, which improves the offering for Reports and Subscriptions. Following the previous example, a user could generate a Portfolio based upon all clients with financial information entered in the ‘volume rebate’ field, and create a corresponding Grid to show the amount. You can then set up a regular subscription.
This blog shows you how to get more out of EQ Riskfactor by using Custom Data. Please let us know if you would like to find out more about this, or have any other questions about EQ Riskfactor. Each month we share in-depth tips on how to get the most out of our software, and we are always looking for new ideas. Please let us know if you have any suggestions on future topics.