Digitalization and the rise of “digital-first” service providers have levelled the cost playing field for the asset management industry. The industry also currently finds itself at an inflection point in its use of technology.
The ability to fully leverage technology platforms has allowed small and medium-sized funds to achieve similar cost efficiencies that in the past were only achievable by the largest asset managers. To address the demanding and complex reconciliation needs facing alternative asset managers today, Indus Valley Partners (IVP) has designed a best-in-class solution, IVP Recon. Delivered as an advanced “any-to-any” data reconciliation tool, the solution can reconcile multiple data sources like position reconciliations, cash reconciliations, trade reconciliations, trial balance reconciliations, P&L reconciliations, NAV reconciliations, securities reconciliations, inter-systems reconciliations, etc.
IVP Recon: Prime Example of a Digital-first Platform
Powered by an end-to-end automated workflow management system, IVP Recon allows users to tag and assign exceptions automatically with robust audit and sign-offs. “Our AI/ML-based Suggestion Engine analyzes patterns and intuitively learns ‘on-the-go,’ thereby predicting more than 60 percent of manual user actions,” says Gurvinder Singh, the CEO of Indus Valley Partners (IVP). Users can set up the entire IVP Recon platform in a matter of hours from scratch with AI/ML-powered reconciliation capabilities that suggest mappings, keys and attributes automatically.
AI/ML and its Importance
As artificial intelligence, big data and other cutting-edge technologies are supporting the reconciliation side to increase and drive operational efficiencies, IVP has remained one step ahead by building a proprietary AI engine to take a critical post-trade function into the new era of machine learning and big data.
Following the growing trend toward leveraging managed services offerings of specialized vendors to gain operational alpha, IVP is reshaping the flexibility and scale that asset managers can achieve by delivering its proprietary reconciliation platform as IVP Recon-as-a-Service, which is a prime example of a digital-first platform. This integrated platform, which is equipped with well-defined SLAs and KPIs, helps to control operational risk as it uses cost-effective modular solutions for activity-based pricing.
Our AI/ML-based Suggestion Engine analyzes patterns and intuitively learns “on-the-go,” thereby predicting more than 60 percent of manual user actions
The Managed Services Offering
With over 20 years of experience and constant investment in its products and services, IVP has successfully achieved a highly efficient implementation time that has given them the edge to provide clients with more “out-of-the-box” offerings. Over the years, IVP has enabled asset managers to leverage the latest tools, achieve scalability and retain flexibility for operational success. An example of how the company’s solutions unlock value and create insights can be found within its reconciliation platform, IVP Recon, which uses AI and ML at the configuration of reconciliation. IVP Recon also helps users with cleaning up exceptions on a daily basis. “We have a library of 1000+ file formats that help in reducing the implementation footprint. In addition, our ‘digital-first’ managed services offering and 1-1-1 assurance model ensures that the client sees value in the first month of implementation,” states Singh. He further mentions that IVP Stratus is the extension of the solution portfolio. The system works as a next-generation Amazon Web Services-based portfolio management platform through which funds can fully leverage cloud computing’s elasticity on storage and compute.
What steers IVP ahead of the competition is itsrelentless commitment toquality. The company has more than 200 engineers solely dedicated to its products. The client service and efforts far outpace the nearest competition. “We are fully committed to ensuring that our clients’ investments in our platforms are never outdated. By providing annual product upgrades, which are included in a subscription fee, we empower our clients with access to next-generation features on a regular basis,” mentions Singh. IVP’s cloud-based infrastructure provides a turn-key solution to clients, ensuring application access in one day, live reconciliations in one week and onboarding of managed services in one month.
Singh believes that there is currently feverish activity in the managed services market as new technology continues to claim real estate in the asset management space. To this end, IVP is investing heavily in the cloud and bolstering its managed services platform as they believe that this is where the industry is going to go over the next couple of years. “By providing clients with full systematic access to core processing systems that the outsourced managed services teams use, “digital-first” providers tend to be more nimble and agile in embracing efficiency through the enhancement of technology in comparison to their larger counterparts,” concludes Singh.