Milestone Group argues for new approach to excellence in fund operations

London - 7 March 2011

Drive to improve efficiency, quality and service at fund managers worldwide by re-thinking technology strategy and business processes.

Milestone Group, the specialist provider of optimised fund processing solutions to the global funds industry, is launching a drive for operational excellence in fund accounting and related business processing to improve fund managers’ efficiency.

Milestone Group was founded to address a gap in the industry between the capabilities of traditional function-specific solutions, and the business outcomes required by today’s fund managers, promoters and life companies in terms of efficiency, transparency and business agility.

Phil Davies, Chief Technology Officer explains: “We believe there has to be a radical step change in the way people look at the technology they use in their daily operations. To date, fund accounting solutions have focused on improving valuation calculations, accounting and general ledger reporting functions. But these solutions don’t support the wider operational efficiency outcomes that today’s businesses require. It’s time to take a step back and take a more strategic view on how technology can improve and transform business processes, instead of focusing on adding tactical changes to inflexible incumbent systems.”

Milestone Group's pControl technology platform pioneers a unique approach to fund managers' processing and analytics operations. It provides a flexible core platform pre-configured for optimal process flows while allowing for customisation to meet client-specific requirements. It is built on the belief that technology should not dictate business process, but should enable fund managers to leverage market best practice and look at their business afresh, making changes that will deliver optimal results with regard to efficiency, quality and service.

Davies adds: “There are plenty of areas in which greater automation and efficiency can be brought into the fund accounting space. The way that reporting is often handled, for example, or share classes added to balance sheets, has become highly inefficient but deeply entrenched. Dependence on fund packs and all that their production entails slows down a business, creates an inefficient fund accountant-to-fund ratio and can strangle business agility. Much more effective to employ a technology that can automate many of these checks and validations, identify exceptions and allow them to be managed as necessary. This allows the highly-skilled fund accountants to focus on more added-value tasks, including engagement with their stakeholders and clients.”

Geoff Hodge, Chief Executive Officer says: “In almost every organisation we deal with, the intersection between product, accounting and operations represents an enormous opportunity to realise efficiencies. What people are looking for is a common approach to systems architecture that supports not just individual processes, but also the broader business objectives at an enterprise-wide level. There is no reason why multiple labour intensive functions that rely upon a range of disparate technologies, cannot be combined and automated by one ‘built for purpose’ platform that fundamentally understands fund products. This is the approach that can deliver a big step forward for all stakeholders simultaneously. It is the approach taken at Milestone Group, and, we believe, is the way that operational excellence will be achieved.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development