SUCCESS STORY

E N T E R P R I S E I N F O R M A T I O N M A N A G E M E N T

INDUSTRY

Financial

CUSTOMER

L&T Infotech FSTI

CHALLENGES

n Manual process delaysn Rigid workflowsn Missing paper or missed SLAs

SOLUTIONS

n OpenText Case360n OpenText RightFax

BENEFITS

n Electronic, automated accessn Adaptable workflown Increased productivityn Enhanced service

High-volume, high stakes fund transactionsIt almost reads like a punchline: you know paperwork is extreme when you’re esti-mating workload by the pound. This situ-ation was not far from reality for an L&T Infotech client: “You could not manage a process effectively if you cannot measure it,” says Yasemin Sezer, senior vice presi-dent of Software Engineering Services with L&T Infotech. “In the early 90s, one of our clients was weighing paper to figure out the workload coming in.”

L&T Infotech serves seven of the top 15 global banks and other wealth manage-ment firms. To service their own customers, these firms manage high volumes of time-sensitive documentation, from applications to open investment accounts, to requests for transactions. The requests arrive through electronic trading networks, email, fax or mail. Paper-based methods are especially problematic: “When a document is being

Solutions Provider Shapes Competitive Edge for Financial Enterprises L&T Infotech builds Transfer Agency solution powered by OpenText Case360 for increased efficiency and customer satisfaction

moved around, it can be misplaced or missed,” says Sezer. Delays can lead to missed service level agreements (SLAs) and even satisfaction issues that dull a competitive edge, she notes. “If requests aren’t handled quickly and accurately, then the advisor won’t sell company funds. Customers will go to somebody else who is doing it better.”

In places where processing is still manual, clients find maintaining oversight and auditing especially difficult. Even in loca-tions using business process management (BPM), clients complain of pre-defined workflow systems that do not adapt to changing needs and are difficult to modify without IT intervention.

As the leading provider of transfer agency, fund administration, and asset manage-ment products and services in Canada, L&T Infotech set out to develop a case management system tailored to the finan-cial services asset management industry.

Larsen & Toubro Infotech Financial Services Technologies Inc. (L&T Infotech FSTI) is a global IT services and solutions provider. In line with its aim to provide a

winning edge to clients, L&T Infotech built a Transfer Agency case management solution, powered by OpenText technology, to help firms handle asset management processes with greater speed and accuracy.

SUCCESS STORY

E N T E R P R I S E I N F O R M A T I O N M A N A G E M E N T

The solution would streamline existing operational processes that are costly and lack visibility.

Automated, adaptable workflowL&T Infotech’s Transfer Agency case management solution, powered by Open-Text Case360, helps asset management organizations move from paper-based or rigid workflow systems to paperless case management with automated and adapt-able business process management. The service provider chose OpenText technol-ogy for its leadership in the BPM space, effective integration, and time-to-market. The solution carries potential for efficiency that leads to cost-savings and improved customer satisfaction.

L&T Infotech’s solution is useful to clients currently working under various conditions:

n Routing paper-based requests and keying data into backend applications.

n Scanning documents for post processing.

n Tracking files via document systems and BPM applications, but contending with rigid, resource-intensive workflow systems.

In each circumstance, financial organiza-tions can streamline operational processes with L&T Infotech’s cloud-hosted, Software as a Service (SaaS) case management system built on a multi-tenancy framework. The Transfer Agency case management solution is designed for easy implemen-tation that returns a short time-to-market and low cost-of-ownership. It includes pre-built integration with the solution provider’s record-keeping platform, Unitrax®, and open source integration with other backend administration systems.

The core of the BPM Transfer Agency solu-tion is OpenText Case360, a dynamic case management solution that helps organi-zations work more efficiently, improve the optimization of complex processes, and outperform business goals with real-time business insight. The integrated system also includes features of OpenText RightFax.

L&T Infotech designed an all-purpose workflow as an immediately accessible starting point for asset management clients. Configurable options then allow organiza-tions to tailor the system as needed.

n RightFax captures information from faxed documents.

n IBM Datacap delivers the images (from scanned and faxed documents) and index data to recognition software which creates work items and introduces them into Case360 as a case folder.

n Case delivery for processing is controlled by role-based entitlements and defined processes.

n Dashboards and reports provide insight into status and performance. All users with access to the folder see tasks completed or pending.

n When completed, case folders are delivered to a searchable archive.

“When we demonstrate the Transfer Agency solution, there are a lot of efficiencies our clients are excited to hear about,” explains Carlo Manna, associate vice president of Product Development with L&T Infotech.

“From a client point of view, it’s very user-friendly.” Users easily access information through a tabular format, single-click action buttons, and side-by-side view of documents. Managers review integrated, real-time dashboards and reports for

“OpenText Case360 allows businesses to implement changes without having to go to IT to maintain an adaptable workflow.” YASEMIN SEZER, SENIOR VICE PRESIDENT, SOFTWARE ENGINEERING SERVICES, L&T INFOTECH FINANCIAL SERVICES TECHNOLOGIES

status and performance levels instead of waiting for updates or searching for information.

Manna and Sezer agree that OpenText Case360 proved an excellent fit for L&T Infotech’s solution because of its adaptive case management capabilities. “In the area of asset management, business changes too fast for structured solutions to be maintained in the same speed,” Sezer says. “OpenText Case360 allows businesses to implement changes without having to go to IT to maintain a very struc-tured workflow through the use of configu-rable options and ad-hoc tasks.”

Increased efficiency, improved experienceOpenText technology drives the hosted BPM transfer agency system that carves a competitive edge for the solutions provider and its end-user organizations. L&T Info-tech is sought out for its unique solution that helps wealth management firms improve customer experience and realize cost savings with various benefits.

Speed and savingsSimplified, adaptable document routing reduces cycle time for client requests to be completed. Workflow rules guide docu-ments to the next step in the process, even when they require parallel processing by separate departments. This efficiency enables employees to increase the amount and quality of work, including tasks that are now electronic, making them easier to monitor and control across locations and time zones. As a result, organizations can operate more fluidly on a global scale and move some processing to lower-cost locations. Overall, new efficiencies carry potential to increase revenue by support-

SUCCESS STORY

www.opentext.com n sales@opentext.com n 800 499 6544Copyright ©2012-2013 Open Text Corporation OpenText is a trademark or registered trademark of Open Text SA and/or Open Text ULC. The list of trademarks is not exhaustive of other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text SA or other respective owners. All rights reserved. For more information, visit:http://www.opentext.com/2/global/site-copyright.html

ing a higher workload without additional resources.

Accuracy and complianceHigher levels of quality control and compli-ance with industry regulations would also usually be paired with higher operating expenses. Instead, firms can leverage existing resources along with detailed reports, enhanced search capabilities, and other improved controls of the Transfer Agency case management Solution. The system forces a separate quality control

resource for independent review and inte-grates with backend systems so information is easy to validate, preventing errors early in the process.

Managing time-bound efforts is also simplified: “Managers have visibility into the customer onboarding and admin-istration processes that they never had before,” Sezer says. “They can now track SLAs and monitor employee workload. If an SLA is at risk of not being met, manag-ers can re-route work to other employees.”

StabilityL&T Infotech designed the Transfer Agency solution to work—when and where it is needed. It incorporates redundant compo-nents and is configured to eliminate single points of failure. “We worked to leverage our expertise and OpenText technology to build a solution that is stable, scalable, and has full disaster recovery capabilities,” Sezer notes. L&T Infotech plans to extend its workflow approach to other domains. Its solid relationship with OpenText will continue to serve as a foundation for effi-cient solutions in a competitive market. n

(09/2013)01156EN