Fideuram Asset Management Ireland’s soft commissions management system was complex to say the least. A manual process, locally managed by various departments across the company, it was disjointed and lacked integration.
Not only that, but the entire procedure was based on individual productivity tools with no allowance for proper process tracking. In short, management of the system was very cumbersome – especially for employees in the middle office responsible for monitoring and reporting. They needed one system that could aggregation, transform, integrate and report their data automatically.
Change was needed and, fortunately, they knew exactly who to turn to.
The Solution – Irion
Fideuram Asset Management were already well aware of the excellence and expertise of Irion, having called on us to complete their reconciliation project to great success. Now, they selected Irion to streamline and simplify. They implemented a soltuion for data aggregation & reporting and integration that included the following processes under one single system:
- Acquisition of input data (trades and commissions, invoices and more);
- Determination of trades within the soft commissions system and theoretical commissions calculation;
- Determination and control of payments;
- Determination and verification of the credit accrued and paid to any Broker;
- Sophisticated reporting at various levels;
Thanks to Irion, all departments involved in the processing of soft commissions calculation and reporting can now access a central system from where they can easily obtain all the information they need to properly handle and document them.
Analysis and high quality reporting can also be produced in a much more simplified, robust and efficient manner and the entire work-flow process is now completely under control.