How Customized Workflows Give Firms a Competitive Edge

Developing solutions to automate workflows is a key area for many firms, as bespoke, slick workflows can optimize operations at every stage of a trade.

Anything that improves the investor’s experience is a good thing and it is becoming more important than ever to provide first rate customer service. However, there are many firms that use multiple systems which don’t talk to each other, and information is hard to find or time consuming to access. Without instant access to the information that customers need, firms are struggling to meet customers’ expectations and wasting valuable administration time. A customized workflow could pull data from multiple sources so that it is in hand when customers need it, allowing them to closely monitor trade status, positions and counterparty exposure and customize reports in real time.

Scrupulous regulatory compliance can also be another deal breaker for many investors, many preferring centers with strict regulations (obviously feeling that their capital is better protected), and hedge funds may find that customized workflow solutions will help them meet the time critical reporting requirements of regional regulations such as GDPR, AIFMD, FCA reporting, OTC clearing and reporting, Short Selling Regulation and MiFID II directive. By streamlining and automating workflows, only the data that is needed will be reported, minimizing manual interventions and reducing the burden on individuals.

Marketing accounts for a huge proportion of spend on marketing for most alternative investment firms, and this too can benefit hugely from a set of workflows which take away the guesswork when dealing with strengthening investor relations, launching new vehicles or attracting new capital. Firms can use technology to drop feed the right set of information at the right time, using the right delivery mechanism, in the right order. They can then measure the impact and analyze what has been successful, with who and when. Using artificial intelligence or machine learning solutions, fund managers and marketers can work out what vehicles are likely to be well received and what behavior investors could display in the future.

Streamlined workflows in each part of the firm can play a huge part in the risk management strategy too, as the manual element of many tasks is minimized, and team members are guided and supported to manage their workloads from start to finish, ensuring that vital processes are followed and creating an audit trail along the way. Having workflows that can scale as firm grows, with minimal development work, is the competitive edge needed to stand out from the crowd.