The Fund Services team at Credit Suisse administers over 700 funds for asset managers across Europe. To complete key workflows, however, the team relied on slow, paper-based and manual quality controls which monopolised the time of skilled fund accountants. To remedy this, Credit Suisse implemented the Workflow and Exception Manager module within Multifonds Global Accounting, that enabled a whole new way of working, that enables a whole new, streamlined way of working. The fund accounting team has now replaced paper with automated workflows, and exceptions are automatically raised when Multifonds detects an error. This approach saves huge amounts of time that can now be dedicated to more value-add tasks.
”A key milestone of course is last year our organization is the implementation of the ramps of the monitoring workflow which allows us to automate a lot of process, but the key element of the automation was that we moved to a paperless world which was very very important to the fact that we stopped to print pages.”Antonio Silva, Head of Fund Accounting