Case Study:
- Business growth required financial automation. By implementing the Broadridge Fee Billing Management platform to automate its processes, the firm was able to identify over $1 million of misallocated revenue, reduce errors and save significant staff time.
- Client Overview: Global Asset Management Firm / AUM: $300B +
Problems Faced:
- Struggling with operational inefficiencies and unreliable manual revenue and expense management systems, leading to delays and errors in financial processes.
- Lack of accurate and transparent reporting capabilities, resulting in increased audit time and higher risk of errors.
- Growing business and significant assets under management (over $300 billion) putting pressure to unify and modernize fragmented approaches to achieve scalability and improved operational effectiveness.
Broadridge Solution:
- Broadridge enterprise fee billing management solution supporting Asset Managers, Wealth Managers, and Capital Market business lines.
- Revenue & Expense Fee Billing
- A/R & Collections
- Reconciliations
- Business Intelligence
Why Broadridge:
- The client chose Broadridge's comprehensive solution to automate fee processes
- Broadridge identified and addressed time-consuming manual tasks and data inconsistencies
- Implemented straight-through processing for fee invoicing, accrual calculations, and general ledger postings
- Streamlined and refined processes, reducing manual interventions and improving operational efficiency
- Broadridge's comprehensive solution included a robust rules-based engine for compliance and financial controls
- Ongoing support from Broadridge empowered the firm's financial controls department to respond effectively to internal challenges
Client Results:
- Identified and recovered over $1 million of misallocated revenue, effectively stemming revenue leakage between business units
- Minimized errors through streamlined processes
- Significantly reduced time spent on error-prone manual processes, allowing resources to focus on more critical tasks
- Created reporting efficiencies, cutting monthly accrual performance time by half a day
- Improved transparency, saving at least 1-2 weeks annually in the audit process
Let’s talk about what’s next for you
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Want to speak with a sales representative?
| Table Heading | |
|---|---|
| +1 800 353 0103 | North America |
| +442075513000 | EMEA |
| +65 6438 1144 | APAC |