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case studies

GeneralPublished on: Fri Feb 10 2023

Ability to Effectively Calculate & Pay to Financial Reps

Business Scenario

One of our US-based clients specializing in Fiduciary Investment Management and Wealth Advisory services wanted to automate their existing Excel-based program. The existing system was becoming too difficult to manage with increasing data and complex calculation logic. Hexaview was required to develop a web-based application that was simpler, efficient, and accurate, and could perform all the existing functions and more.

Technical Scenario

Hexaview was the right choice for the customer since it’s a technology firm focused on wealth management solutions. We developed a cloud-based solution using Microsoft Technologies (.Net, IIS, and SQL Server).

Hexaview’s Solution 

The client was using multiple Excels for calculations and report generation, which involved a lot of manual effort. We automated the whole system in the following manner:

·        Developed a Web-based application, which can be used by multiple users simultaneously.

·        Automated the whole calculation logic, with minimal user interference.

·        Generation of properly formatted reports, which are easy to analyze and more accurate. Made the whole process manageable, user friendly.

Impact of the Implementation

We came up with the right solution as per the client’s needs at the following levels:

·        Import- Ability to import data files from their PMS system

·        Payout Calculation – Calculation at Relationship/Household-level for multiple payees

·        Reports – Report generation both Detailed and Summary at different Payee levels (Regional Director, Independent Marketing Representative, and Wealth Advisory Services)

 Key Success Factors

·        Our prior knowledge of working with Advisor Billing and knowledge in the Wealth management domain helped in developing an effective product at less cost and time.

·        We took Continuous feedback from the client during and after the development to improve the product.

·        We are flexible to incorporate our client’s last-minute changes without any additional cost impact on them.