Traditional Reporting, an impractical approach for reporting at scale
Fidelity’s, Global In-house Center (GIC) employs a huge workforce of business analysts and associates. These professionals are tasked with creating a large number of Fixed Income and Equity Fund reports for US, UK and, India markets on a monthly and quarterly basis. These reports capture critical details related to the fund’s performance and positioning over the quarter or month. For Fixed Income, reporting is based on the investment strategy and for Equity, reporting is carried out for each fund.
- The reports need to be created following set standards based on regulatory and business requirements
- The reports are created manually for each fund using a template set in traditional reporting software, namely, Excel and Word
- During peak reporting periods a large number of reports need to be generated accurately in a short window of time
- The team generating the reports is relatively small, to meet the monthly and quarterly reporting requirements for each equity and fixed income fund
Fast Track Reporting at Scale
The GIC wanted end-to-end reporting capabilities for the fixed income and equity fund portfolios. They found what they were looking for in Phrazor.
- Phrazor was fully deployed on-premise, using servers hosted within Fidelity’s firewalls
- The natural language generation (NLG) technology parsed through each fund’s data to automate the reports
- The reporting logic developed for each fund and asset class incorporated what Fidelity considered natural language in relation to the chosen funds and asset classes
- Fidelity’s current reporting template was configured in Phrazor to ensure the final report was generated in the original format
- The manual process of creating numerous reports across funds on a monthly and quarterly basis was replaced with Phrazor’s automated reporting platform
- Phrazor ensured reliable and timely reporting, across funds, even during peak periods when monthly and quarterly reporting coincided
- Dependency on business analysts was significantly reduced with an optimized reporting pipeline
- Phrazor’s ability to write human-readable insights from data proved far more accurate than manual data interpretation which is prone to errors
Fidelity is a privately owned investment management firm providing financial expertise to individual investors, businesses, financial advisors, and institutions. It manages equity, fixed income, and balanced mutual funds. Fidelity invests in public equity and fixed income markets across the globe. It conducts in-house research to make its investments.