Sapient Global Markets rolls out close of business reporting service
Sapient says automated reporting will free up resources for other more productive tasks
Sapient Global Markets has launched a close of business reporting service that it says will help capital and commodity markets trading firms to meet regulation at lower cost.
Designed as a fully managed service, the new offering gives clients real time dashboards that track the operations process automatically, so they can theoretically allocate less resources to reporting, freeing up capital for more important areas of the business.
The rationale behind the service is that end of day transaction reporting isn’t a competitive advantage for any firm, so outsourcing it is simply more efficient than maintaining resources to do it in-house. The service covers P&L, position, mark to market and cash flow data. Sapient also insists that the solution will help to drive down risk, by making the process more transparent and reducing the possibility of human error.
“The industry is demanding smarter ways to achieve greater business efficiency,” said Arun Karur, vice president and head of commodities at Sapient Global Markets. “Our clients are able to hand their daily transaction book to us, and we hand it back to them the next morning, with the data collection, analysis, and reporting complete and ready to go. Clients are able to achieve higher predictability, smarter processing, and reduced overall risk while capitalising on the specialised expertise, lower cost, and higher scalability benefits that a managed service can provide.”
