Driving Massive Cost Savings for a Global Investment Management Firm

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Challenge

Reduce reporting complexity and TAT delays

Client focuses on investments in mortgage and consumer credit including whole loans, asset backed securities, mortgage servicing rights, and other credit-related assets.

Client faced huge challenges with their investor reporting and remittances reconciliation. Reporting for all 500+ of their investors was managed on numerous and complex spreadsheets, with manual reconciliation, resulting in delayed turnaround time (TAT). The delayed TAT led to financial penalties, errors, and more than 40% of the staff was (in some way) involved in reporting.

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Solution

Streamline and automate processes

ThoughtFocus quickly analyzed existing processes and proposed building a complete investor remittance management system that would streamline processes. Within 8 months, ThoughtFocus built and rolled out the services and technology. The completely automated system included remittance calculation, investor reporting, and fee calculations with zero errors, using 50% less resources. The system connects directly with an integrated cash and risk management solution to receive daily bank feeds for the new reconciliation module. Remittance time has been reduced from 2 hours to 25 minutes.

Results

8 Months

Automated System Design & Rollout

50%

Less Resources

80%

Remittance Time Reduction

ThoughtFocus has successfully developed a pricing engine, under writing system, broker portal and is now automating the document processing system. This has resulted in huge cost savings.

Benefits

Flexible technology and operations partner

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In an 8-month period, ThoughtFocus conducted detailed business requirements gathering, created functional & technical design and implemented the system.

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Delivered each functional module using agile development methodology and the customer is on target to initially reduce its workforce by 60%.

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The system was designed to be deployed on Microsoft Azure – the first cloud implementation for the customer.

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Other business groups are currently looking into using various modules of this system to streamline their business processes and ThoughtFocus is conducting business process re-engineering studies.