INDOS FINANCIAL WORKFLOW MANAGEMENT SYSTEM

Business issue: Inflexible workflow management system from both a user and administrator perspective.
What did Centigen deliver: A bespoke, user-friendly workflow management system which would allow for further enhancements as and when needed.

Future roadmap: INDOS Financial has plans to develop the workflow management system to expand its capabilities.
What benefits are being realised: Increased user efficiency which in turn leads to cost saving efficiencies. A future-proofed, customisable solution which can grow and adapt with the firm.

Introduction

INDOS Financial specialises in providing full AIFMD depositary services to a broad range of alternative investment funds. With offices in London and Ireland, and a team of 20 staff, INDOS Financial offers a flexible, proactive and transparent level of client service. Technology plays a big part in the running of the firm, and enables them to scale, manage their work programme, meet internal deadlines, and meet reporting requirements for their clients.

The challenge

The firm had an off the shelf workflow management system in place which users found inflexible, causing them to work around with manual interventions in many instances. A great deal of administration time was being wasted because the system wasn’t doing exactly what the business needed.

The solution

The team at INDOS Financial researched other off the shelf workflow management solutions to see if there was something on the market which could meet their needs, but none allowed the flexibility that they required, and would have all meant that a compromise was required. Following in-depth discussions with Centigen, it was decided that a custom-built workflow management solution would be the best fit for the firm. Centigen solutions are all housed in a secure, private cloud environment, which is specifically built to meet the exacting demands of clients and regulators in the financial services sector. The software developers at Centigen took the exact requirements of the firm as it is today, but also discussed how the solution would accommodate changing needs as the firm added more clients to its portfolio. The resulting workflow management solution is highly customisable, with flexible settings that allow integration with other systems, and can scale at a rate that matches the firm’s growth. Minimal development work will be required to ensure that the solution can match the firm’s requirements for many years to come.

What benefits will be realised?

INDOS Financial is already seeing financial returns from the implementation of the customised workflow management solution, as users no longer have to manually intervene, or devise time consuming workarounds, because the software does exactly what is needed. Business process is not having to change to suit the software, the software matches the business process perfectly.

As the firm grows, further benefits will be realised, as the software can be adapted and tweaked to meet future needs. Additional modules are planned, driving more efficiencies across different parts of the business.