The client is a global investment firm based in the United States, specializing in private equity, real assets, private credit, alternative asset management and financial services.
The Challenge
In the intricate landscape of the client’s asset management business, significant challenges surfaced as each line of business of the organization adopted different processes for asset management. This fragmentation made it difficult to consolidate information across systems. Moreover, the web of enterprise integrations, spanning diverse technology stacks, became a maintenance nightmare for support teams. The absence of a digital compliance management solution further compounded the issue, causing delays in timely approvals for deploying new offerings. The inefficiency and susceptibility to errors in tax reporting due to manual efforts added to the complexity.
The Solution
The transformation began with the Persistent team adopting the Appian platform to offer a single-pane consolidation of enterprise legal entity management. The strategic move involved re-architecting three critical programs related to private equity business workflows, investor dashboards, and financial process flows. Furthermore, the solution encompassed designing and developing seven new enterprise systems, addressing tax reporting and compliance management challenges. This holistic approach not only tackled immediate concerns but also laid the foundation for future-state business process readiness.
The Outcome
Within a span of just 12 months, the client realized savings exceeding 1 million USD and accelerated time to market by 4X. The solution led to the complete automation of backend processes, streamlining operations and minimizing errors. The project’s success prompted the establishment of an Appian Center of Excellence, a testament to the significant return on investment achieved. The client emerged from this journey with a standardized and efficient asset management framework, demonstrating the power of low-code platforms in transforming complex business landscapes.
Technology used:
- Appian BPM
- .NET
- SharePoint
- Aspose Document
- Processing APIs
