How encompassing is your Portfolio and Fund Management Solution?
The modern day organizations have become quite advanced in regards to implementation of strategies, technologies and tactics for attaining the goals and objectives. It has been observed that all business sectors are making prolific strides in implementing advanced technologies that helps in achieving competitive advantage over others. Based on the fact, enterprise resource planning system has become quite popular among all organizations. Assessing the various issues persisting within the business sector, the implementation of ERP system is quite valuable in overcoming the issues and properly executing the operations that enables organization in generating adequate profitability and smooth functioning.
As we meet and talk to CEOs and CIOs, one of the biggest challenges noticed that CEOs and CIOs face is selecting the right software and software vendor to partner with. This is one of the most important decisions facing a company. The wrong software could sink a company; but the right software implemented properly provides a strong competitive advantage and not only reduces cost in the tangibles like reduced labor cost but more importantly increases organizational agility in areas not typically thought of such as retaining organizational knowledge, IP and business skills irrespective of employees coming or going. Can your software do this or are you beholden to some employee(s) whose presence or availability is crucial to your understanding what is going on in your business.
One of our customers, (a subsidiary of one on Nigeria’s leading banks) had to literarily beg and treat its main asset manager like royalty. This asset manager ran a couple of Mutual Funds but nobody had a clue what he was doing; the software he was using was inadequate, it took weeks to arrive at the Mutual Fund valuations and they had to take his word for it. He spent practically every weekend in the office and had this massive excel spreadsheets no one else understood. If this guy sneezed, management caught a cold. Then here came the kicker; their stock brokerage business was moribund like everyone else and they had plans to aggressively grow their asset management business but were scared stiff because it was clear their existing infrastructure couldn’t handle it.
InfoWARE was called in in franticness to implement both the Wealth management and Mutual Fund modules. Bid and offer price determination is now an end of day event at the click of a button; Fund valuation and risk management is instantaneous; Fund composition is clear and available in detail and graphical view; the asset manager now focuses primarily on investment decisions and monitoring while retail operations (eg fund subscriptions) are handled by customer care management. Our integrated financial control and risk management provides all facets of the organization (financial control, senior mgmt etc) the information and business insight they need, sending reports directly to their mailboxes as and when they need it. And BTW, that walk on water fund manager is no longer with this company but it now manages an asset base more than ten times (10x) larger but with ten times (10x) less the effort.
For one other the MD, first got to know that a fund they managed had dropped nearly 30% in value at a quarterly management retreat. Why? Because the Fund manager himself only became fully aware of the extent of the problem when he spent the previous week frantically doing the valuation for presentation at the retreat. The right software should have been able to tell the fund manager on a daily basis what the fund valuation was. InfoWARE solutions goes even further; with the risk management and risk monitoring deployed, the fund manager and/or the CEO would have been warned directly via alerts before the problem got that bad.
From our research, we found out that there are an immaculate number of issues persisting with various Asset Managing organizations.
- Can your software solution manage multi-currency assets/instruments within the same Fund/Portfolio
- EOD: Ability for your software asset Fund to run EOD separately? Or does it force you to run all funds at once?
- Income Distribution: Does your software produce consistent income distribution numbers in your customer statement and distribution schedule
If you answer is 1 out of 3 or none, then you are losing profit edge.
Considering the issues persisting with various Asset managers it can be stated that a 360 degree encompassing Portfolio/Fund management (PFM) implementation can be the only way out to sort all the problems and bringing back the operations of the organization in track. Thus, the most suitable and effective ERP software that can be implemented by the organization is InfoWARE Portfolio/Fund and Loans Management solution.
- The InfoWARE PFM enables in simplifying the process with a significant solution and deployment options which are specifically designed for attaining the desired outcomes without any expensive development or enhanced manpower.
- The solution allows for client to Manage multi-currency assets/instruments within the same Fund/Portfolio without any hassel.
- Among all the different ERP systems available the InfoWARE PFM suite is one of the most compatible and highly scalable with any technology that is already in use. This enables in delivering value for long term without any additional cost over the due course of time.
- Implementation of the PFM solutions allows asset managers to perform individual End-Of-Day run on different funds without been forced to run all funds concurrently.
- The automation of the Income Distribution process is stakeholder and auditor friendly. And this has necessitated the development of InfoWARE Income Distribution Module with full Audit Trail and Reporting. Fund managers can now accurately distribute the accrued interest invested by customers without errors, and spool the reports as at when required.
- Minimize the possibility and impact of security vulnerabilities; InfoWARE Business Solutions provides a secure means of doing business with finely grained security modules and configurable trigger alerts on KPIs. Also, InfoWARE Business Solutions helps protect information from unauthorized access, use, disclosure, disruption, modification, or destruction by preventing unauthorized access.
Assessing all the key aspects from the implementation viewpoint of ERP PFM implementation in organization, it can be concluded that it is quite necessary as well as important because it can bring a significant change in the key operations of the organization and enhance the profitability.
The good news is that InfoWARE’s end to end ERP solution with its integrated internet banking/retail module is allowing companies in Nigeria and other African countries to out maneuver and out run their competition.
Let’s get you started today, contact us on any of our support channels.