Better cashflow management for Implemented Investment Solutions (IIS) with a data platform for growth
Alphacert Customer Story
IIS came to AlphaCert to look at how the AlphaCert platform could not only organise their business processes, but simplify their data processing, and improve monitoring and reporting.
The onboarding process for IIS was a phased approach. The first phase involved a discovery program, whereby AlphaCert initially mapped out the business and data processes for IIS. This helped to identify how to best standardise IIS data and produce sample files to take to data providers.
Assisted by AlphaCert, IIS relitigated their process and documented it. Their cashflow monitoring process was reworked and spreadsheet model optimised by connecting it to trusted, verified source data from the AlphaCert platform. Discovery workshops and consulting services directed data onboarding activities and process mapping. Setup of the infrastructure and environment was followed by testing and Go Live.
The core AlphaCert platform was implemented with a registry and reporting module. Around 20 daily files from providers (custodians and administrators) are fed into their AlphaCert environment. AlphaCert worked with IIS’s three custodians, BNP Paribas, Public Trust and MMC, to bring in their initial core data (valuations and unit prices). Data is validated, checked and the results are output as six extracts feeding data into a cash monitoring model.
Every day the investment operations team refresh their spreadsheet models and pull in clean data from AlphaCert. AlphaCert supported IIS to set up their own SFTP server working directly with data suppliers to deliver data directly into the AlphaCert platform. The IIS investment operations team uses AlphaCert to resolve more of their reporting problems by providing investment reporting for members that was previously unavailable.
After the initial deployment for automated file loading, ongoing releases extended functionality and automation to enable relevant data checks and reconciliations. The release strategy provided motivation to incrementally evolve operational efficiencies.
The AlphaCert platform enabled IIS to transform a full digital and data program. IIS gained significant efficiency improvements in business processes. This meant that IIS could go back to suppliers with confidence to standardise file formats and gain consistency of data across all of their providers.