Workflow Optimization
InvestTech has the experience and foresight to walk into your firm and begin to understand how your business operates right from the onset. We realize that investment and trading operations need to change as your business continues to evolve and increase in complexity. Given the complexities of many firms' investment systems environments and the growing demands on their business, implementing the optimal systems infrastructure as well as re-engineering workflows is critical.
Workflow Optimization, also known as Business Transformation Consulting helps prepare for real transformation by identifying current strengths and weaknesses, then highlighting the roadmap for improvement. Our process improvement projects seek to identify ways to reduce system redundancies while optimizing the manual steps required to process information. InvestTech conducts operations reviews that include a contrast of a firm’s current practices to industry best practices and if desired, provide recommendations for the optimal organizational structure and resource capabilities.
Reasons to Review Workflow
- Manage a broader array of security types than previously
- Number of system applications grows with the growth in assets under management.
- Mutual Funds trading volumes have increased and will likely continue to expand as the number of managed institutional third-party accounts.
Recent industry developments are also placing increased demands on investment operations and systems.
- Trade cycles continue to shorten and will likely approach T+1 settlement
- Industry emphasis on straight-through processing and electronic connectivity imposes the requirement for greater interoperability and integration between internal systems and external counter-parties.
The Depository Trust Company estimates that 70% of the overall effort required to accomplish straight-through processing is internal work focused on investment operations work-flows and systems integration. InvestTech can help firms benefit from the re-engineering of trade processes and investment operations with the goal of streamlining, simplifying, and further automating operations.
The objective is to define process improvements, systems infrastructure improvements and organizational changes that will provide for the most efficient electronic flow of investment information, thereby accommodating increased trade volumes and an expanded number of accounts.
Our evaluation and development of re-engineering recommendations include the following steps:
- Assess strengths and weaknesses of operational processes
- Contrast Client operations to industry best practices
- Develop recommendations to meet short-term and medium-term objectives
- Document recommended work-flows changes including revisions to flow charts
- Document implementation implications and priorities
- Identify re-engineering opportunities with Client operations staff
- Present analysis of areas for potential reduced operational risk, improved efficiency and current operations improvements over the near, middle, and longer term
- Include recommended organization structure and potential staffing recommendations
- Present recommended phases, timelines, and budget projections.