Linedata has launched the latest version of Linedata Optima, a of business process management (BPM) tools designed specifically for fund accounting and administration.
BPM tools are operational performance enablers that allow fund administrators to design, monitor and execute end-to-end business processes for increased efficiency. With business operations becoming increasingly exception based and event-driven, intelligent operations require a more responsive approach. Linedata Optima elevates process optimisation by providing oversight, transparency and operational risk management capabilities within the back-office operations.
Following the successful development and roll-out of earlier modules (Event Monitor and Process Monitor), this release sees the inclusion of a new component, Linedata Optima Workflow, designed to empower the end user. As a SMART back-office solution, this new workflow component delivers an abundance of new functionality; with the capacity to provide the end user, on a single screen, landing page or home page, the information required to effectively perform their role, including a daily diary.
Linedata Optima Workflow can act as an online procedures manual; always up-to-date as it is based on processes that are in operational use. Linedata Optima’s procedural capability includes storing data for each process completion and this insight can be used for KPI analysis and process improvement. The processes can be documented as a step-by-step diagram using the Business Process Model and Notation (BPMN) standard, including additional notes. This stored data is also available for audit purposes.
Francois Pradel (pictured), Global Product Manager for Fund Services at Linedata, says: “This new release offers enhancements that help our clients achieve higher levels of operational efficiency, adapt to new requirements, and manage the increased regulatory burden, all without disruption to their core business.”
“In an environment where process and cost efficiency are of paramount importance and ‘systems and controls’ are the fixation of numerous regulators, intermediaries need to keep a close eye on intraday workflow,” says Virginie O’Shea, research director at Aite Group. “Solutions and services that enable operations teams and executives to track and quantify workflow patterns, bottlenecks, or errors can aid process improvement and client responsiveness, as well as providing regulators with proof that all reasonable steps are being taken to meet systems and controls requirements.”
