PROPERTY
Property Fund Manager Halves Integration Costs with nanoConnect
A fund management company overseeing over AU $1 Billion in property funds found itself grappling with a significant challenge – manual data entry was crippling productivity and introducing errors into critical processes that required rework weekly. With much of the processes in Excel, taking staff up to 2 days per week to ensure data within their Unit Registry System (ARMNet) and Finance Systems (WiiSE - Microsoft Business Central Dynamics) were syncronised. The fund manager had sought solutions from the market for integrating ARMNet and WiiSE looking to platforms such as Scribe, Nintex, Solvexia, and Automation Anywhere. After consideration of their options the firm adopted nanoConnect (a serverless integration platform) as their preferred solution for its scalability and costing less than half of that as compared to other options.
LOCATION
Australia
INDUSTRY
Property
EMPLOYEES
75
PROBLEM STATEMENT
For the fund management company, the problem was evident – manual data entry was inefficient and error-prone. Handling transactions required a more efficient approach to data flow between ARMNet and WiiSE. The challenge was to find a system that could manage complex transactions while safeguarding data integrity.
OUR SOLUTION
After research and evaluation of integration solutions, the fund management company decided to implement nanoConnect, a serverless integration platform known for its simplicity and efficiency. Implementation was straightforward, allowing the firm to create a custom integration solution that extracted, transformed, and loaded data from ARMNet (a SQL Server hosted Database) to WiiSE (a REST API). This integration ran automatically and securely, synchronising transactions across investor accounts and applying complex financial calculations to ensure the finance system was accurate.
NanoConnect stood out for its simplicity, which made it effortless for developers to connect platforms with a single line of code. The availability of platform connectors to more than 1400 platforms resulted in faster development leading to cost savings not only in the ongoing operation, but also in development.
CUSTOMER BENEFITS
The results achieved with nanoConnect were substantial, providing improvements in various areas of the company's operations:
- Half license and operation cost: NanoConnect significantly reduced the fund management company's licensing and operational costs by 50%, making it a cost-effective choice compared to alternative integration solutions
- Processing Time Reduced by 97.1%: Lengthy manual tasks were transformed into quick, automated processes, freeing up valuable resources.
- Operational Costs Cut by 90%: Automation and streamlined workflows translated into lower labour costs and reduced the risk of costly errors.
- Zero Data Loss: Data integrity was enhanced, boosting confidence, ensuring compliance, and minimizing financial risks.
- Focus on Strategic Tasks: With manual data entry off their plate, the team had more time to dedicate to strategic activities, exploring new opportunities, and enhancing client services.