Business Need

Drive operational efficiency and reduce turnaround time (TAT) by implementing an automated system to unify back-office operations with the clearing system.

Business Challenges

The client, India’s leading stock exchange, faced significant operational inefficiencies due to its outdated back-office system built on an old technology stack. This legacy system caused delays in end-of-day processing, increased dependency on clearing processes, and hindered operational efficiency. The client required a swift system upgrade to meet its business requirements and streamline its processes.

Business Solution:

NuSummit collaborated closely with the client to understand their needs and deliver a robust, business-ready solution. The team proposed a Audit Trails and boards: Simplified navigation and enhanced error detection. web-based back-office system with enhanced features to tackle operational challenges. Key elements of the solution included:

• Real-Time Activity and Status Tracking: Improved visibility and monitoring of operations.
• Audit Trails and boards: Simplified navigation and enhanced error detection.
• Automated Data Integration: Data from other systems, such as closing prices, volatility, applicable rates, and settlement prices, were seamlessly fed into the system.
• Automated Contract Generation: Contracts, spread contracts, price bands, and reports were generated in fixed-width files, easily consumed by other interfacing systems.
• Role-Based Access Management: Strengthened security with an added layer of control.

Tech Stack:

• Platform: Web-based back-office system.
• Key Features: Real-time tracking, audit trails, automated data feeds, and role-based access.
• Integration: Compatibility with existing systems for seamless data exchange.

Business Impact:

The implementation of the automated system delivered measurable benefits for the client:

• 40% Reduction in Costs: Streamlined operations and optimized resource utilization significantly lowered costs.
• 40% Faster Go-to-Market: Enhanced operational efficiency reduced TAT, enabling quicker service delivery.
• Error Detection Simplified: Application stores and audit logs made it easier to detect and resolve errors.
• Increased Security: Role-based access management ensured robust data protection.
• Automation of 30+ Internal Processes: Improved process efficiency and reduced manual intervention.

Conclusion:

NuSummit’s automation-driven solution fundamentally transformed the client’s back- office operations, addressing their need for a unified, efficient, and secure system. The solution delivered tangible benefits by eliminating inefficiencies in the legacy infrastructure and automating 30+ processes, including a 40% reduction in costs, faster time-to-market, and improved operational accuracy. This transformation directly tackled the client’s challenges of delayed processes and increased dependency on outdated systems, aligning their operations with modern technological standards. The integration of real-time tracking, audit trails, and role-based access further orchestrated outcomes by enhancing visibility, security, and accountability.

With NuSummit’s innovative approach, the client now operates a streamlined, automated system that drives efficiency, reduces costs, and positions them for sustained growth and competitive advantage in the capital markets.