Vanguard took the decision to implement TLM Corporate Actions after a detailed process analysis highlighted the challenge of scaling their manual processes to cope with the company’s continued growth across Australia and Asia Pacific. Vanguard purchased SmartStream’s solution following a thorough evaluation of the market - TLM Corporate Actions was selected for its broad, functional support for the complete event management process.

Vanguard is already gaining a return on their investment: numerous manual steps have been removed. Manual entry of critical data has been dramatically reduced and the validation of event notification has been automated. Phillip Roe, Head of IT and Business Solutions, Vanguard Investments Australia Ltd explains, “TLM Corporate Actions has replaced manual tasks with efficient, scalable processes, improved our control and introduced an exception management environment that will deliver improved client service.”


The implementation of TLM Corporate Actions is central to Vanguard’s business strategy “Our focus is on providing high quality, low cost index funds. So we continually improve the way we do things, using technology to sustain our leadership, reduce costs and ensure we provide the highest quality customer services. Our decision to automate SmartStream’s TLM Corporate Actions is absolutely in line with this strategy.”

Following their implementation Vanguard is now using TLM Corporate Actions to automate their complete Event Management process:
• Data capture, cleansing and validation of event announcements from custodians and independent data vendors.
• Sophisticated Event Diary manages user’s task lists and priorities – prompting and alerting real time.
• Automated Entitlement Processing calculates due entitlements, generating correct entitlement transactions.
• Web-based Voluntary Response Tracking enables Vanguard’s Fund Managers to make elections online.
• Integrated Workflow delivers pre-emptive Exception Management, highlighting errors and discrepancies in event information and allocating them to appropriate users for resolution.

TLM Corporate Actions enables Vanguard’s staff to monitor corporate actions processes, rather than just focusing on throughput, says Philip Roe. “Previously we were very involved in checking items in and out. Now we can focus on managing the exceptions and ensuring that processes are properly undertaken.”

“The successful implementation is attributable to the outstanding teamwork of our internal staff and SmartStream’s consultants. We never underestimated the challenge of automating such a complex function however the challenge was eased by fact that TLM Corporate Actions offered more functionality and benefit than originally targeted.”

Commenting on the successful project, Stefan Wawrzyniak, SmartStream’s Regional Director, Asia stated “With this project SmartStream and Vanguard have demonstrated the clear benefits of automating Corporate Actions. Vanguard selected SmartStream for our market leading applications – the successful implementation is now a clear statement that we have the best professional service expertise to deliver the industry’s best applications on time and on budget.”