Streamlining Back-Office Operations for Global Wealth Management Software Provider

Project Overview

A large investment management software provider with a global wealth management clientele.

Key Challenges

  • Inefficiencies and resource constraints within back-office operations
  • These inefficiences negatively impacted the ability to effectively support a growing wealth management client base worldwide.


The client partnered with Empaxis, in which Empaxis provided a comprehensive middle- and back-office (MBO) support solution, encompassing the following key areas:

  • Dedicated Resources: Empaxis deployed a team of eight offshore resources with expertise in wealth management processes. This included specialists in:
    • Position & Cash Reconciliation: Ensuring accurate daily and periodic reconciliation of client portfolio positions and cash balances.
    • Trade Settlement: Facilitating seamless trade settlement across various asset classes.
    • NAV Calculation: Calculating accurate Net Asset Values (NAV) for all client portfolios.
    • Performance Reporting (GIPS Standards): Generating performance reports compliant with the Global Investment Performance Standards (GIPS).
    • Daily & Periodic Reporting: Delivering timely and accurate daily, monthly, and quarterly reports for clients.
  • Project Management: Provided a shared project manager to oversee the project lifecycle, ensure successful onboarding, and manage resource allocation.
  • Client Relationship Management: A dedicated client relationship manager facilitated smooth communication and ensured client satisfaction throughout the engagement.
  • Business Continuity: Empaxis offered additional resources to maintain operational stability during peak times or unforeseen circumstances.
  • Team Leadership: Shared team leads with expertise in wealth management workflows provided guidance and support to the back-office team.
  • Subject Matter Expertise (SME): SMEs supplemented the team with deep knowledge of specific areas and industry best practices.
  • Quality Assurance: A QA analyst tracked defect rates, ensuring consistent quality outputs and adherence to agreed-upon KPIs and SLAs.
  • Knowledge Transfer: A dedicated migration team facilitated a smooth transition from the client's existing processes to Empaxis' MBO services. This included:
    • Process Mapping: Detailed mapping of client workflows to ensure accurate and efficient implementation.
    • Six Sigma methodology: Implementing Six Sigma methods for issue tracking based on the DMAIC (Define, Measure, Analyze, Improve, Control) cycle to identify and resolve issues efficiently.
  • Key Man Risk Mitigation: By leveraging two geographically dispersed facilities in Kolkata and Noida, Empaxis mitigated the risk of service disruption due to individual absences.
  • Issue Tracking and Communication: Empaxis employs a ticketing system for issue tracking and adheres to ITIL-based communication protocols, ensuring transparency and efficient problem resolution.


By partnering with Empaxis, the investment management software provider achieved significant improvements in their back-office operations:

  • Increased Efficiency: Empaxis' skilled and dedicated resources streamlined processes, leading to faster task completion and improved
    overall efficiency.
  • Enhanced Accuracy: Focus on reconciliation, accurate NAV calculation, and GIPS-compliant reporting ensured reliable and trustworthy client
  • Improved Client Service: Timely and accurate reporting allowed the client to provide their wealth management clients with enhanced service
  • Reduced Costs: Empaxis' cost-effective offshore model delivered significant cost savings for the client.
  • Business Continuity: The Empaxis solution provided the robustness and scalability the client needs to support its growing client base.