FA Solutions is happy to welcome another new European Asset Manager to the growing network of financial service firms selecting our technology to streamline investment operations across regions and product lines.
This client is focused primarily on pension fund management but also runs their own mutual funds, discretionary portfolios, unit-linked life insurance funds, and wealth management portfolios.
The client chose the FA Platform to automate and streamline their daily operations within the 5 different product lines. Having previously managed their operations with multiple systems and processes that leveraged spreadsheets, internal development and manual workarounds, the scale experienced meant they required a more robust and consistent solution.
With FA, they can handle all their various product lines within one single platform efficiently and effectively. FA includes all the essential features they need in their daily work, such as trading, NAV calculation, shareholder registry, and fee management, to name a few but is uniquely placed to systematically apply all functions across multiple product lines and their differing and often unique operational requirements.
What drove the decision to choose a SaaS-based enterprise solution for Portfolio Management?
Through experiencing company growth and volatile times, there comes a point when existing systems need to be reassessed to minimize the many risks that come with differing and often manual workarounds that have become permanent. Naturally, a consolidation exercise becomes essential and the implementation of an all-encompassing, dedicated enterprise software solution becomes very attractive to address these risks;
What were the 3 key areas of improvement identified:
- Key-person risk:
Many systems have been built up over time and it is not rare if only some or one person is responsible for maintaining the process and knows how it works.
- Inaccurate & Unreliable Data:
There is also a bigger risk of inaccurate data and losing the data with multiple manual spreadsheets and systems per region and product line than with a single automated, cloud-based platform for all. The more people have to fill in data and define formulas manually, the bigger the risk of inaccurate data ending up in the datasheet. In a cloud-based SaaS platform such as FA, all the important processes and calculations are automated according to the industry’s standards, and the data is backed up in the cloud, so the risk of losing data is significantly smaller.
- Operational Inefficiency:
Manual processes require a lot of time and effort when data needs to be sent back and forward between different departments within an Asset Manager. This increases the risk of bottlenecks and more importantly has your staff working on data issues rather than interpreting the data. With FA, all parties can access and use the instantly updating platform. The processes are automated with a 4-eyes principle for double-checking, which removes many manual steps and errors and makes the whole process easily auditable: you can always check who has done what and when and find the data you need.
Throughout the upcoming onboarding, the client looks to benefit through the removal of these manual workflows and operational risks by deploying a single, stable system that reduces errors, generates tangible business value, and provides the employees with a better user experience by streamlining their everyday work.
Are you facing the same challenges this client was before choosing the FA Platform? Leave your details below, and we will be in touch to find out how we can help you.