Schroders implements new management software
Schroder Investment Management is implementing Milestone Group’s pControl software to manage its outsourced fund accounting processes.
The software will provide oversight of third party service providers, in light of increasing demands from regulators and investors for transparency across all aspects of financial services firms’ operations.
Gary Janaway, operations director at Schroders, said: “The software can deal with the multi-class, multi-currency complexities of the investment vehicles we offer, and its flexibility and scalability were critical as we focus on improving the quality and efficiency of the fund services we provide.”
pControl’s Fund Oversight module will enable Schroders to monitor, validate and analyse all components of their investment funds valuations process from a single point of reference and will enable forensic examination of transaction and fund data.
Paul Roberts, managing director Europe at Milestone Group said: “It is clear that under the current climate, demands for transparency and operational control are only going to intensify. This makes it vital for financial institutions to look for better ways to monitor service levels and outputs associated with outsourced relationships. There is an emerging need for automation of this process to achieve the levels of efficiency, transparency, and timeliness now demanded.”