Feb 04, 2021


The client manages more than USD 1.6 trillion in equity and fixed income assets for millions of individual and institutional investors around the world. The firm manages USD 60 billion in its institutional business. The firm is investing in a multi-year effort to build out a data repository focused on the collection, management, and delivery of clean, gold copy data to internal and external clients.

The institutional business recognized a need to enhance the functions within its Global Client Services division. The current processes were known to be manual and inefficient, so the firm sought out Cutter Associates’ expertise to provide a clear view of how to take advantage of the new data repository to streamline workflows and enhance its client reporting capabilities, as well as some of the other functions the group handled, such as RFPs, RFIs, and DDQs.

Cutter experts began by performing a comprehensive assessment of current activities, including reporting volumes, material-specific workflows, template management, custom reporting processes, report distribution, report archival, etc. We interviewed team members and subject matter experts to understand pain points and gaps, and mapped out the current architecture framework that was supporting the effort.

In addition, Cutter performed a benchmarking assessment of the firm’s client reporting function versus 32 peer firms.

Cutter identified a number of areas for improvement, including the following:

  • Data usage consistency
  • Standardization and beautification of reporting templates
  • Centralization of data
  • Workflow mechanisms
  • Implementation of an industry-leading client reporting tool

Cutter then presented a future state recommendation, identifying solutions to address areas of concern. We provided the team with a short list of possible vendor solutions for a client reporting tool. We provided recommendations around data preparation and template redesign that should be properly sequenced in order for the implementation of any client reporting tools to be efficient and cost-effective.

The consulting team mapped out a realistic and achievable timeline, including detailed steps for each work stream, assumptions and dependencies, and resource and budget impacts.

At the end of the project, the Global Client Services division had a detailed and achievable framework for enhancing and improving its global client reporting function.

Armed with Cutter’s set of recommendations, the team was able to socialize the roadmap with senior management and other departments within the organization in order to procure the necessary budget and resources to bring the plan to fruition.

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