We enhance our proprietary software, AdvoTrac ®, with new capabilities and features on a regular basis. AdvoTrac® is Advocate Capital’s differentiator, a strategic tool for our clients and employees. Our clients gain access to their accounts via the web portal, and they often have suggestions on how to improve AdvoTrac®.
Here are the Spring 2018 AdvoTrac® improvements:
Reports – We added three brand new reports to the portal: Principal Balance by Date Range, Initial Case Funding by Date Range and Closed Cases.
The Principal Balance by Date Range report allows a user to view their firm’s principal balance for each day within the date range parameters. This can help the firm to understand their utilization trends.
The Initial Case Funding by Date Range report allows a user to view which cases funded for the first time within the date range parameters. The report shows the case name, memo information, date and amount. This can help a firm audit their funded cases if needed.
The Closed Cases by Date Range report allows a user to identify which cases were paid and closed within the date range parameters. The report shows the case name, date opened, date closed and the payoff amount, helping the firm with reconciliation.
Since we added three more reports to the reports tab, we felt it was time to alphabetize the drop-down menu creating a more user-friendly experience.
In addition to the new reports, we modified the Reprint Payoff Quote for cases paid off online. We removed the remittance address, per diem amount and changed the text from “Amount Payable” to “Amount Paid” to ensure clear communication. These changes were previously made to the Payoff Quote but not on the Reprint Payoff Quote.
When a Request for Loan Advance is received, our accounting department emails a Transaction Detail for Funding report to the client confirming their request is complete. The report now includes the firm’s account manager name and contact information, making it easier to contact them should there be any questions.
Funding Requests – If a client has working capital availability, they can select a radio button on the funding screen to fund working capital, eliminating the need to scroll all the way to the bottom of their case listing to choose working capital as a case to fund. This function previously existed but was inconsistently working if a client had a reopened working capital line. The radio button visibility has been corrected.
Payments - When a client has multiple bank accounts set-up for payments, and the client fails to select the bank account, an error message appears. The error message "Bank Account Required" was moved beside the bank selection field instead of the middle of the page, making it easier to notice.
We added our new remittance address for paper checks to the Payoff Quote with a yellow highlight and to the frequently asked questions page in the portal.
Monthly Summary Emails – On the 15th of every month, AdvoTrac® sends an email to clients summarizing their account activity. We removed the word “new” from the funded cases line, which was confusing the type of funding that occurred on the account.
Training – We added two new videos to the help and training section: “Creating a User” and “Modify or Unlock a User.”
The training videos for Reports Part I, Reports Part II and Reports Part III have been updated.
All video titles were revised, removing the "How to" text at the beginning making the titles more concise.
Step by step PDF instructions are now available for all tutorials.
Administrative – A firm administrator may notice the following changes when modifying or creating a user:
- A help bubble was added beside the working capital visibility permission set, explaining what users with this access would be able to see.
- The help bubbles were changed to the Advocate Capital green and font, making them easier to see.
We would love to hear from you! If you have ideas for additional improvements to AdvoTrac, please send them to me at [email protected] or call me at 615-577-5447.
If you would like to read about the Winter, 2018 AdvoTrac Improvements, click here.