"We improved processing capacity over 400 percent while reducing operating expenses."
- VICE PRESIDENT OF OPERATIONS
A full-service investment management firm needed an automated reconciliation solution that could increase
the processing capacities of its existing personnel while improving reporting accuracies.
The client had over 65 custodial relationships. A typical software solution was not the answer because this required dedicated personnel and additional training and systems support resources. The client wanted a solution that would produce daily exceptions reports and required no training and no additional in-house support resources.
The solution had to work with its existing portfolio accounting system.
Accolade's ReconReporterTM Services was the solution.
Accolade processes the client's portfolio and bank data on a daily basis and provides exceptions reports via the internet through its WebReporterTM Services.
The portfolio accountants used to spend hours at month-end reconciling discrepancies.
Now, exceptions reports are available each morning and the time that it takes to resolve exceptions has been significantly reduced.
By using Accolade's ReconReporterTM and WebReporterTM Services, the investment manager has increased processing capacity, reduced operating expenses, and improved timely and accurate reporting.