Managing lots of data from lots of sources
How BoNY Mellon gained access to detailed, accurate and timely data and a single view of its operational landscape.
Portfolio growth meant Quintillion was struggling to handle non-standard data formats
Fund administrator Quintillion’s operations team had an existing process to handle incoming data from clients and third parties - if it was in a standard format. Any change to the standard data format had to be dealt with manually or with further programming, which was complicated and time-consuming.
• Growth of portfolio increased the number and complexity of data handling requirements, increasing time taken to monitor and handle data inputs
• No method available to capture data in Pdfs from clients, increasing manual rekeying and errors
• Complicated programming of systems to accommodate new formats and data components
• The cost and complexity of onboarding new clients limited business growth
Xceptor was implemented to provide the flexibility and control that Quintillion needed to manage this critical business area. Xceptor is now used to automate all incoming data requirements.
• All fund expenses are automatically collected, calculated, validated from multiple formats, including pdf and email, and passed straight through to the finance system
• Operational team is in charge of creating new data formats and types for new funds, enhancing business responsiveness
• Wide variety and complexity of data is processed with no additional headcount, whilst employees spend their time on exception management
• Quintillion also uses the logs and audit function which provides them with the assurance of accurate data handling
• New business without overhead - Ability to take on new business without additional overhead
• Eradication of manual errors - Improved error rates – no costly manual errors that have to be rectified
• Reduced costs - Reduced costs from the removal of manual intervention and replacement with automated processes
• Governance - Increased governance and audit capabilities for management team
We knew Xceptor would make a difference and are really impressed by how much it has delivered. Xceptor is the perfect flexible data management solution to fit with our aim of delivering superior service using leading technologies.