• Octopus Investments (“Octopus”), a leading UK fund management company, has chosen Aurum Solutions’ GroupIT for its cash-to-bank and securities reconciliation needs
• GroupIT adds efficient operation by eliminating multiple data entry and by processing 3-sided reconciliations simultaneously
• Octopus’ growing transaction volumes are supported by GroupIT’s automatic reconciliation performance
Octopus, which provides innovative investment solutions to UK investors and a wide range of funding options for exceptional companies, has implemented Aurum Solutions’ GroupIT for its reconciliation applications.
Founded in 2000, Octopus is one of the UK’s fastest growing fund management companies. With more than £2.7 billion assets under management Octopus faces increasing transaction volumes. The company wanted to continue its successful development by gaining efficiency in its reconciliation processes - a vital element of the company’s financial operations.
Octopus chose Aurum Solutions’ GroupIT, a powerful and flexible software application, which is easily configured to allow different reconciliation processes to be managed within a single central database.
The successful installation of GroupIT provides Octopus with a live view of all data feeds and the overall reconciliation status. All of this is presented on a single display screen.
Peter Orsi, Operations Manager at Octopus, said: “Given the rapidly increasing number of transactions that Octopus is making, it was vital for us to achieve a fast, trouble-free transition to an automated reconciliation process. Aurum Solutions exceeded our expectations and it has integrated the complete solution that does exactly what we want. We are delighted with the result and the benefits it is bringing to our investment operations team.”
Aurum Solutions’ Managing Director Helen Belcher said: “We are extremely proud to have Octopus as a satisfied customer. We are really excited to see the value that GroupIT’s performance and efficiency can bring to businesses like Octopus that have significant transaction volumes and reconciliation needs.”