The impact of a Digital
Workflows solution
on operations
Unlocking value for GP clients with cost-effective, proprietary automation, and digitization solutions.
Transforming operations: the demonstrated impact of workflows for GPs
Automation and digitization expertise is a key area where administrators can add significant value by making proprietary automation technology tools (that would be prohibitively expensive for investment managers to build and fund in-house) readily available to GP clients.
Indeed, Alter Domus and Deloitte research has revealed that GPs now see workflow tools and automation infrastructure as influential factors when selecting fund administration partners, with 75% saying it will have either a moderate or strong impact on fund administrator selection for investment managers.
Alter Domus has made significant investment in data analytics and workflows and automation. These technologies have helped GP clients to drive significant efficiencies in their middle and back office teams. Here we detail the impact of workflows of one of our key clients.
Client:
One of the largest asset managers in Europe, with a significant global reach
Operational issue 1:
Manual task management is time-consuming, error-prone, and can lead to misinterpretation.
Negative impact:
Errors related to manual management constitute 30% of all audit/risks issues.
Digital Workflow solution:
Automated task capture saves time and provides a single source of truth leading to 600% decrease in audit/risk related issues.
Operational issue 2:
Email approvals and file exchanges risk security breaches and are laborious.
Negative impact:
High volume of emails from clients and risk of disclosing information to unauthorized contacts.
Digital Workflow solution:
Approvals within the tool prevent data leaks and save operational time leading to a 20% reduction in emails while enabling a more secured way of communicating with clients.
Operational issue 3:
Clients experience limited transparency, causing frustration.
Negative impact:
Time lost updating clients over email and phone each time.
Digital Workflow solution:
Detailed audit trails enhance transparency and client trust resulting in 30% less time spent updating clients on outstanding matters
Operational issue 4:
Managers struggle to manage large clients and teams with inadequate tools.
Negative impact:
Lack of transparency around the stage of tasks, and who is responsible for the task.
Digital Workflow solution:
The tool streamlines assignment management and follow-ups by providing real-time information on task status, leading to time savings and more efficient team management.
Operational issue 5:
Manual transaction posting is slow and error-prone
Negative impact:
Time wasted on posting operations on eFront, even though operations teams already worked on such matters outside eFront. i.e. capital calls, payments, etc.
Digital Workflow solution:
Automated transaction postings boost efficiency and reduce errors leading to a 20% time reduction on fund administration systems as draft operations are being reflected automatically. It’s important to mention that human touch is still needed to review, validate and ensure that such operations are impacting the ideal accounts.
The benefits of a Digital Workflow solution for private equity fund administration
Collaborative process between client and third-party administrator
Provides online information and differentiating value to LPs
Accurate, actionable digitized data, online KPIs
Processes and procedures coded into automated workflows
Workflow automation and AI enhances efficiency, accuracy, and cost control
Reduction in manager/administrative oversight workload and email/excel communication
Ability to integrate third-party fund administration data
Key contacts
Maximilien Dambax
Luxembourg
Group Product Head of Fund and Corporate Services
Nathan Rees
North America
Head of Tech Operations, North America Fund Services
Get in touch with our team!
Discover how you can accelerate your operations with Alter Domus’ Digital Workflows Solution.
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