Middle-office and back-office outsourcing services
Reconciliation and accounting isn’t just costly to your operation — it’s time-consuming and can leave room for error. The operation of your middle office and back office has a huge impact on your firm.
Empaxis eliminates your frustration with middle-office and back-office outsourcing services. Our portfolio accounting experts work in a tightly-controlled, results-oriented environment, processing your data accurately and securely. Your firm will gain flexibility, and increase operational efficiency, reducing costs by up to 50 percent.
What is the difference between middle office and back office?
Financial institutions are generally divided into three “offices” – front, middle and back.
The front office is comprised of sales and services, with both individual and corporate clients. All pre-trade and execution activities are done by front office associates. It is generally considered the money-making part of the organization.
The middle office offers support to the front office in compliance, law, risk management and technology. It also includes corporate treasury, financial control and strategic management. The middle office makes sure the front office is operating within safe parameters as it also tracks profits and losses.
The back office is the engine driving the organization. It is involved in accounting, clearances, human resources, records maintenance, regulatory compliance and technology. Job titles associated with the back office are often classified under “Operations.” The back office is sometimes used to describe all jobs that do not directly generate revenue.
Outsourcing services offered by Empaxis
Empaxis was the first firm to offer middle-office and back-office outsourcing services, and we continue to provide leading-edge solutions. Your platform is our base: our team adopts your preferred portfolio accounting system, tailoring our service to meet your firm’s investment strategy. Regardless of region, currency, or asset class, we process your accounts accurately and quickly.
Outsourcing is less expensive with TAMP1, and all the processing is done in the middle of the night, which is less disruptive. That way, you have the work done the way you want. Our experts will take care of the processes, and we will deliver daily in the most efficient way.
Empaxis also offers staff augmentation services, which allows you to use high-quality and focused professionals to get the work done, or improve what has already been done. You can keep closer control of projects vs. outsourcing alone, where the staff is managed by the outsourcer.
With staff augmentation, your firm doesn’t just gain access to a capable team; you’ll easily be able to add or remove staff to fit your needs, saving your firm both time and money.
You can leverage Empaxis’ team of expert portfolio accounts and IT specialists on a temporary or long-term basis. We provide a wide range of services, including reconciliation and performance reporting, billing, cost basis, corporate actions processing, fees and expenses reporting, and NAV calculation reports, among others.
Empaxis will take the time to understand your business and deliver your desired results. Whether you need a single specialist or an entire team, staff augmentation gives your firm freedom to grow.