SmartStream Technologies, the market leading provider of Transaction Lifecycle Management solutions, today announced a ground breaking approach to the automation of STP processes.
Built on SmartStream’s success in delivering enterprise wide, scalable projects - TLM Control has been architected from first principles to shatter barriers to STP. Exploiting latest technology it sets new standards in Usability, Flexibility, Speed of Deployment and Cost of Ownership.
TLM Control is a core, strategic initiative from SmartStream and delivers Cash & Collateral Mgt, Exception Mgt, Trade Process Mgt and Regulatory Compliance solutions for clients to rapidly construct their composite STP applications. Steve Moss, Business Development Director, SmartStream said "This is the most important and exciting announcement we've made since the launch of TLM Reconciliations. We built TLM Control guided by the experience of our largest customer assignments to provide a sophisticated, dramatically quicker and more powerful solution to deliver STP than anything in the market. Believe me we've looked! TLM Control is going to fuel our leadership of the rapidly growing Enterprise Exception Mgt and Trade Process Mgt markets where we have already made such an impact."
Users are able to graphically model, automate, execute and monitor complex human and systems workflows to confidently manage transactions across their entire lifecycle, with no resort to coding. Once modelled, processes can be re-used across the organisation providing a flexible and adaptable enterprise wide infrastructure.
TLM Control harnesses WebConnect, SmartStream’s industry acknowledged web portal for the STP Control Architecture, to provide a unique, functionally rich and intuitive interface with a 'no-code required' environment for business users. The thin client allows firms to extend business processes to all participants, improving efficiency and driving enhanced customer service. Design Studio dashboards empower users to monitor processes, organisations' adherence to SLA's and performance against KPI's.
Developed specifically for enterprise wide STP deployments, TLM Control enables firms to consolidate operations around industry best practice. The application of Business Rules enables firms to model and tailor best practice processes to their own unique requirements. Parameters can be clearly defined, monitored and tuned to enhance processes that carry the greatest risk.
When transactions start to fail TLM Control provides a proactive solution with roles based, customisable escalation processes and intelligent Exception Management to identify and resolve the root cause rather than the manifestation of the problem. Neil Vernon, Senior Product Manager, SmartStream explains, "Most clients are able to provide an analysis of the way in which their transactions can enter an exception state. Using this intelligence TLM Control recognises a specific exception cause and executes corrective action, typically injecting a person into the process to resolve the issue before it creates unnecessary exposure to risk or cost."
In automating business processes TLM Control takes advantage of a firm’s existing Middleware and EAI investments, providing the ability to hand transactions off to another system or person whilst retaining ownership of that transaction. "Retained ownership means TLM Control becomes the single trusted source of transaction status information across the entire lifecycle. If you want to know the exact status of your transaction, in real time, TLM Control has the answer." said Vernon.
Developed on industry standard J2EE platforms, to gain maximum scalability and resilience, TLM Control is capable of meeting the needs of SmartStream's busiest customers. The product is production ready, being installed at the first beta customer site and will be on show at Sibos, Stand C12, Sydney, October 9-13.
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