Acting as a third party utility, SmartStream not only provides the operational IT platform but works alongside the teams required to deliver reconciliation, corporate actions, cash management and reference data to clients. SmartStream effectively lifts out all these operations and undertakes them on a client’s behalf.
As part of its Managed Services offering, SmartStream has a solution called TLM Transaction Fees Invoice Management. This solution provides an automated function that eliminates the manually intensive, paper-based processes typically associated with common procedures such as matching of transactions, reconciling against invoices payable or producing invoices receivable. Benefits include:
- No IT overheads or people costs, resulting in substantially reduced total cost of ownership
- Accelerated performance through SLA and KPI measurement
- Ease of data reporting
- Significant improvements to efficiency and lowering cost
- Enables the bank to maintain a control team to monitor performance