SEI Investments goes live on TLM Reconciliations from SmartStream Technologies
November 22, 2004
SmartStream Technologies announced today that SEI Investments (SEI) has successfully implemented TLM (Transaction Lifecycle Management) Reconciliations to automate its Reconciliations and Exception Management Processes.
SEI, a leading global provider of asset management and investment technology solutions, made the decision to implement TLM Reconciliations based on the product’s unparalleled scalability and its flexibility to quickly adapt to SEI’s unique environment.
“The flexibility of TLM Reconciliations has allowed us to build a Reconciliation and Exception Management solution around our own workflow processes, reducing manual intervention throughout the trade process lifecycle and ensuring exceptions can be routed to, and managed by, the appropriate person or team. Before implementing TLM, a lot of time was spent on routine processing, while now the knowledge of our experienced reconciliation staff can be applied more proactively, helping the organization minimize risk and cost” explained Jeff Drennen, Senior Vice President, SEI.
Commenting on the importance of the implementation, Lou Longhi, Managing Director - Americas, SmartStream stated, “As the financial services markets improve and trade volumes increase, it’s even more essential that organizations have processes in place to automate their transactions and minimize the number of failed trades - quickly recognizing, reporting and resolving exceptions. Smart companies like SEI are taking advantage of the benefits of automating trade processes and deploying enterprise-wide Reconciliation & Exception Management functionality to reduce risk and increase speed of trade processing.”