Archive for August, 2015

Portfolio accounting – a way to improve your business!

August 4, 2015 business, finance 0 Comments

Portfolio accounting is a thing that all financial services providers should consider at a full value. The point in portfolio

Portfolio accounting is a thing that all financial services providers should consider at a full value. The point in portfolio accounting is huge and the benefits that it brings are enormous. I am telling you this from my personal experience in a very large financial company. In the beginning my chief did not want to buy any digital products to simplify our work. Not because he is mean or a bad manager, he was just a little bit old-fashioned back in those days….But when the problems have started, he needed to do something and since he used to have so many colleagues and friends in the field that could reach some really good profits and reputations, he decided to listen to them…

We have established a completely new program for our portfolio accounting strategy the one and single IBOR source of truth. We still kept the department we have – without firing someone or minimizing the working time. Everything remained the same except for the fact that in the overall organization portfolio accounting software and system were added. And these are the things the portfolio accounting robotic product made for our financial services provider:

  • an accurate demonstration of the investment status
  • showing and depict the correct numbers for the following parameters that have their own meaning for any financial company: cash, playable and receivable numbers, fees and commissions, valuation rate, accruals and reconciled holdings
  • 100% security for any financial transaction, as well as for the settlements
  • auditing at first-class rate and control
  • P & L and financial statements
  • making a general ledger journal entries
  • first-rate decision making is a process that has become easier and faster and this has saved us lots of money and additional expenses we used to pay for!
  • Suggestions for new investments were coming all the time without making any of our department to lose time in checking out each of them, because there is a scale with the possible outcomes for any of the suggestions.
  • More money and guess what – larger salaries for each of us, the employees…

This list does not show all the benefits from portfolio accounting software. The fact that we have gained so much in just few years is a real proof for that. But also have in mind that different financial companies have different management and accounting issues, which means that portfolio accounting will help each of you in a different way, as well. As one of the leading financial companies in our region, our company has made a statement to remain on this position for years. And we are yet the leaders! With proper portfolio accounting sometimes things get better – even if in the beginning the problems seemed too bad to be recovered with one single software product.

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