Automation of Fund Analysis Allows Managers to Make Better Informed Decisions
Company Size
1,000+
Region
- America
Country
- Canada
Product
- Vena
- Microsoft Excel
Tech Stack
- Central Data Repository
- Dynamic Excel Spreadsheets
- Business Validation Rules
- Audit Trail
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Quality Assurance
Use Cases
- Predictive Quality Analytics
- Process Control & Optimization
- Remote Asset Management
Services
- Software Design & Engineering Services
- System Integration
About The Customer
The customer is one of Canada's leading investment firms, responsible for managing multiple funds. The firm aims to ensure that each fund can fully cover its own expenses, thereby maintaining a target management expense ratio. The finance team at this firm was manually monitoring these funds to determine which ones required the manager to absorb expenses. This manual process involved cutting data from multiple source systems and pasting it into spreadsheets for analysis. The firm needed a more efficient and accurate way to compile and analyze fund information to make better-informed decisions and maintain their financial targets.
The Challenge
The finance team at one of Canada's leading investment firms faced significant challenges in fund analysis due to manual processes. They had to cut and paste data from multiple source systems and general ledgers (GL) into Excel workbook tabs. This manual process involved performing vlookups and manipulating spreadsheets to organize data, which was time-consuming and prone to errors. The entire process took three weeks to complete each month, leaving the manager with very little time to make necessary adjustments. This increased the risk of over-absorbing expenses on behalf of the funds, potentially affecting the firm's target management expense ratio.
The Solution
Vena provided a comprehensive solution to automate the fund analysis process. The solution included a secure, central data repository that seamlessly integrated with the client's source systems and GL, storing all up-to-date data. Dynamic Excel spreadsheets were automatically updated according to changes made in the central repository, eliminating the need for manual data entry and reducing the risk of human error. Vena's Excel workbook was used for input and automatically arranged data into the proper reporting format. Business validation rules were implemented to prevent unauthorized changes to data or formulas and to ensure data integrity. An audit trail feature date-, time-, and user-stamped changes made to templates, facilitating instant version comparison and enhancing data accuracy.
Operational Impact
Quantitative Benefit
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