Cofunds has entered into a new strategic partnership with Intelliflo, a developer of business management software, to boost adviser efficiency by offering them straight-through processing functionality.

Intelliflo’s web-based business management software, Intelligent Office, can already access information from Cofunds, but under the terms of the new strategic partnership, collaboration between the two systems will be extended.

The new strategic partnership will see joint development of a two-way integration, which will allow trading on the platform to be triggered from within Intelliflo’s Intelligent Office software.

Through this new partnership, new client records set-up in Intelligent Office will now automatically create a client record on Cofunds.

Additionally, settled transactions and portfolio valuations will be pulled back from the platform to Intelligent Office to keep back office systems updated.

Cofunds said that the system will be made available to all existing Intelligent Office users who are registered to use Cofunds and both firms will work collaboratively on business opportunities.

Adam Smith, commercial director of Cofunds, said: "We appreciate that our clients’ point of sale and back office administration systems are central to their whole operation.

"Our new partnership with Intelliflo brings together what we do best with what they do best, with the aim of helping advisers to streamline their processes and cut out waste and inefficiency."