Use Case > Data Transformation

Effective fee management

CURRENT STATE

Complex, manual processes

Our client had multiple systems and repetitive, manual processes to manage 400-page invoices. Volumes of processes were also high. Complex fee data could not be interrogated or validated due to the complexity of the process. An inability to do proper due diligence meant invoices were typically being paid if within 5% of the previous month’s invoices.

CHALLENGE

Inability to capture data, intricate processes

Faced with complex and indigestible data in hundreds of invoices in various formats (pdf, word, email etc), the client needed to ensure invoices were paid in a timely manner. The client needed to capture the data in each invoice and transform it so it could be validated against internal records of multiple fee structures. They wanted to eliminate the risk of paying the wrong amounts and have controls in place to capture any large changes from month-to-month.

XCEPTOR SOLUTION

Connected data, simplified processes

Invoice data is captured across all formats and channels. All fee structures are connected and can now be interrogated. Automated processes ensure line by line reconciliations. Intelligent data insights also enable the firm to identify high cost agents, high exposure to certain markets or agents, and any high cost trading activity.


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