Background

• One of the largest global alternative asset managers was looking for end-to-end fund accounting and reconciliation solutions. The process required significant manual effort, with each fund taking up to 20 minutes, and relying on data from diverse sources, increasing overall complexity
• There was a critical need to identify opportunities for automation to minimize manual intervention, reduce reconciliation time, and improve overall efficiency
  

Crisil Integral IQ solution

• Provided accounting and reporting support by leveraging in-house expertise of core accountants and ensuring accurate and timely net asset value (NAV) calculations every month
• Automated the process and significantly improved efficiency by reducing reconciliation time by 99% (1, 200 seconds per fund earlier to under 10 seconds per fund at present), ensured higher accuracy by eliminating potential manual errors, and enhanced reliability and operational performance
• Performed accurate transaction and par reconciliation, including break investigation and justification for discrepancies, conducted meticulous scrutiny of trade documentation and data, facilitating effortless trade settlements
• Established a structure for periodic updates and regular follow-ups, along with an escalation matrix, enabling seamless communication with the client
  

Client impact

• About 80 hours of onshore bandwidth per week was saved by independently resolving breaks and errors, and minimizing reliance on client resources
• Efficiently utilized time zone differences, enabling timely delivery of reconciliations and NAV calculations
• Reduced operational risks and enhanced trust in the quality of reporting by establishing robust processes to identify and address errors proactively
  

Questions

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