The Strabo Blog
The 5 Most Important Features of Investment Tracking Software

🙇🏻 - 5 minute read


"Buy low, sell high," "Cut your losses short and let your winners run," and "Don't put all your eggs in one basket." 

These are pieces of advice that are often forgotten even by long-term investors when handling various investments. Some newbies usually don't have the right tools to track investments which leads them to sell even after a small gain only to realize that its value is going to appreciate. Meanwhile, around 58% of 1,000 investors have lost faith in the stock market, based on a study conducted by Prudential Financial Ltd
Regardless of how experienced you are with investing, using an investment management system (IMS) is recommended. Find out what you should look for in an Investment Management System to ensure a profitable portfolio.

Database Feature
Having the ability to look at all your accounts in one glance is a luxury. It can be pretty annoying to switch windows and systems to monitor your bank account, investment, pension, credit cards, and cryptocurrency. If you can find an IMS that can provide a live feed of your accounts, it will be easier to make decisions.

According to a report from Forrester, around 60 to 73% of all data within businesses goes unused for analytics. Hence, you must identify your investment goals to determine the information you want to monitor to put your data to better use. From there, find an IMS that can cater to your key performance indicators (KPIs) and export them in a dashboard. Strabo offers the creation of custom dashboard widgets and splitting of information according to your type of account, investment, financial institution, and more. Apart from maintaining a centralized database on your selected IMS, you must also ensure that it allows importing data from PDF and Excel, especially since investment reports are usually in such formats. 

Net Worth Tracker Feature
You should track your investments and portfolio and your net worth because it is the indicator of your financial situation. With a net worth tracker, you’ll be able to filter accounts that only matter to you, see the movement of your finances in real-time, and plan your next investing strategies.

If the net worth is negative, you will be prompted to align your sources of income and your expenses and create a plan to reduce debt. If you use investment management software for individuals, you may cut your shopping, meals, clothes, and credit card bills. If use  it for your company, you have to decide which department to cut spending on temporarily.
If your net worth is positive, you may look into other investments and assets. You may also use an IMS to look out for potential high-earning assets.

Real Estate Tracker
Billionaire investor Andrew Carnegie, was quoted in a ParkTrent Properties Group article saying that more money was made in real estate than all industrial investments. Moreover, 90% of millionaires got their wealth by investing in real estate. 
Hence, you might want to consider investing in real estate. Unlike other investments and assets that fluctuate often, an investment property takes time to appreciate or depreciate, which poses a lower volatility risk for your finances.

Once you have decided to invest in properties, you may use an IMS with a real estate tracker to check the performance of these properties. Portfolio performance software like Strabo can provide real-time house price data on both owner-occupied homes and rental properties.

Connectivity Feature
As you aim towards the growth of your portfolio, you should also look into other investments across the world. Hence, the IMS of your choice must be streamlined to ensure automatic updates from the investment platforms that you use and has multi-currency support.

This coming 2022, Strabo, one of the available investment management systems in the market, will offer FX Transactions allowing seamless transfer of funds across all currencies.

Security
You will be able to keep your investments and assets secure by using all the features mentioned above. You can protect your investment because you can easily monitor your accounts. However, you must still ensure that your chosen IMS keeps your portfolio securely under robust risk and compliance management. It is for this reason that some opt to undertake a formal education involving investment management. Here is an example of the best online bachelor's degree in finance.

Strabo has several anonymous features that ensure that login credentials are not stored, personal details are anonymized, and data encryption is both for in transit and at rest data.

Education
Regardless of your risk appetite, portfolio size or asset allocation, it's vital to continue learning throughout your investing journey in order to make sure that you not only build up your portfolio, but hang on to it! As such, we've committed to providing a whole host of educational resources which will be offered to you throughout your journey with the platform. If you have any further suggestions about what you'd like to learn more about, you can book a call at the usual Link

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