A Canadian multinational alternative investment management company partnered with our firm to automate their fund request process as part of the capital investment approval process. The company approached us as their current process was manual, lengthy, and costly, which was affecting their bottom line
The Problem
At a high level, the fund request process involved highly manual tasks leading to coordination costs for requesting capital. Investment teams were required to collaborate with the financial operations teams using complex spreadsheets, with a high number of complex parameters in order to meet risk and regulatory guidelines. This resulted in an increased turnaround time to secure capital. Therefore, they needed a solution that could simulate this complex workflow and allow easy collaboration.
The Approach
Our team designed a business process flow where the fund request template is created through the automation process once the investment team initiates the fund request. Then, the financial operations team reviews the auto-generated funding request template and submits it for approval. Finally, the management team approves or rejects the fund request. To achieve this, we leveraged Unqork to create a highly synchronized workflow redesign including the UI, workflow management, rules, and calculations due to its superior capabilities no code and integration capabilities.
Our engineers designed an architecture that integrated with existing legacy data sources, incorporated SSO to prevent data silos, and allowed for scaling in the future. All this in turn enabled financial operations, tax, legal, management, and investment teams to work on completing the funding request leading to enhanced collaboration.
The Results
The solution was deployed in just 14 weeks, a quick turnaround that led to a 95% reduction in emails sent related to funding requests, 70% reduction in total turnaround time per funding request and 80% reduction of errors expected in the funding request process
Our solution not only reduced the time and costs associated with the fund request process but also improved system performance and scalability by reducing downtime experienced due to manual intervention.