Fund Accounting is more than just a system: A Friendly Society case study

Fund Accounting: streamlining and automating

So, how does Linedata Icon help our client in their day-to-day business?

Their Finance Director explains: “Linedata Icon provides us with the ability to efficiently price and carry out fund accounting for our unit-linked products. We also have expanded into using Linedata Icon to administer some of our non-unit-linked funds in assisting with month-end accounting and reporting. The ability to be able to create and modify various items such as reports as required is also extremely beneficial. The ability to create bespoke cost sheets with the help of the Linedata consultants is another bonus.”

The Director adds: “Without Linedata Icon and the Linedata support team, the calculation of our unit prices would be near impossible in the strict timelines required. Linedata Icon is a very effective tool enabling fund accounting and pricing within our organization. Also, the high-quality support that comes alongside the system provides us with a high level of confidence and assistance.”

Recently, our client has added an additional pricing module of Linedata Icon to support their back-office operations. So, how has the implementation gone and how has it helped with their business?

“The implementation was altogether a very smooth process. The Linedata consultants who assisted us in the creation and design of our cost sheets were very knowledgeable and experienced. We carried out testing in order to ensure we were getting the results we required and have been entirely satisfied with the outcome, and the support we received throughout the process. This has meant a significant reduction in various processes throughout our normal pricing day, freeing up time for other important tasks.”

Robust solution and a strong relationship

For financial institutions, fund accounting is a core function, requiring a strategic platform from a strategic partner. Working with truly strategic partners is very different from managing other supplier relationships.

What is the impact, if any, of the support you receive from Linedata?

“The Linedata support analysts and consultants are deemed just as important to us as the system itself. With the support provided, we feel more confident in both our own abilities and the system’s capabilities. The communication from Linedata via email, telephone and face-to-face has been incomparable to the service received from other providers of business services.”

“Linedata’s documents are extremely detailed and helpful for both new users and experienced users of Linedata Icon. They are especially helpful in terms of gauging the potential changes we can make to our current methods. We are very satisfied with the service we have received from Linedata's support analysts. The knowledge and support provided are fantastic, and the Linedata representatives always go above and beyond to assist us in resolving any issues we might have.”