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Implementation of a market leading third party product for a leading Asset Management Firm leads to a reduction in the turnaround time by 40%

Implementation of a market leading third party product for a leading Asset Management Firm leads to a reduction in the turnaround time by 40%

Business Need

  • The Client wanted a fully integrated database solution which had inbuilt accounting rules and could also meet the instruments handling requirements and could cover the following functionalities:
    • Web- Enabled
    • Straight-through processing
    • Automated Reconciliation
    • Trading and order management
    • Portfolio management, modelling and analytics
    • Risk management
    • Performance measurement and attribution
    • Cash management
    • Multi-Currency
    • Security and position administration
    • Fund administration
    • Compliance and regulatory reporting
    • Accounting
    • System administration and interfacing
  • A flexible solution in which new functions or financial instruments can be deployed by adding new modules
  • Reduce operational risk
 

Challenges

  • Identification of profiles for training
  • Product training on the third party product
  • Operational knowledge of Asset Management and Funds Administration
 

HCL Solution

  • Identification of good BA profiles with 4-5 years of experience in the Asset Management domain were identified for training on the product
  • Three resources from HCL were trained onsite at Third Party product's location for a month
  • These resources were then deployed in the projects and have been continuing since then
 

Business Benefits

  • HCL has a Third Party product CoE with over 35 Third Party product certified resources. This has helped in quick ramp up of the team when required without affecting the delivery
  • HCL provided business analysts who not only had a thorough understanding of the domain but also were also able to automate the testing process thereby reducing the turnaround time by 25%

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