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LEARN MOREFor hedge funds, operational efficiency is critical for maintaining a competitive edge. Recently, a New York-based global alternative asset manager faced significant operational challenges due to its reliance on an aging legacy reconciliation system. This blog explores how the firm overcame these hurdles by implementing the IVP Reconciliation Solution and IVP Managed Services to streamline reconciliation workflows and enhance business value.
Legacy System Challenges
The firm’s legacy system, which was used to perform daily reconciliations for private investors, middle office teams, and transfer agency divisions, was fraught with inefficiencies, including:
All of these challenges significantly compromised the firm’s operating costs and efficiency, prompting the need for a more powerful and comprehensive reconciliation solution.
Implementing the IVP Reconciliation Solution
To address these challenges, the firm implemented the IVP Reconciliation Solution, an automated, cloud-based reconciliation solution supported by IVP Managed Services. This strategic move transformed the firm’s reconciliation workflows with numerous capabilities, including:
Achieving Tangible Benefits
The IVP Reconciliation Solution and IVP Managed Services delivered impressive results:
The success of the IVP Reconciliation Solution highlights the power of automation to overcome operational challenges. By embracing advanced technology and outsourcing operational functions, hedge funds can not only streamline workflows but also achieve substantial cost savings and efficiency gains. This case study also underscores how important it is for hedge funds to innovate continuously in order to maintain a competitive edge.
This reconciliation solution uses AI and ML to increase efficiency, accuracy, and flexibility., i It features “any-to-any” reconciliations, including bank reconciliation, and processes millions of transactions in minutes, allowing data reconciliation from a fund, fund admin, and counterparty in a single, N-way reconciliation process. Offered in conjunction with reconciliation as a service, the combined power of the solution and service ensure accuracy and efficiency in every report.
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