Rethinking Operating Models in the Age of AI
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October 24 | 8:30 Onwards
Register NowWith the sheer volume and complexity of expense allocation rules, managers that continue to rely on manual processes will face a slew of operational and financial risks. As proven by several firms over the years, misallocations can result in substantial fines and reputational damage, leading many to re-evaluate their expense allocation process and seek a solution that reduces the risks of errors, streamlines compliance and improves transparency.
Although most misallocations are unintentional, they often occur when there is a disconnect between the complexity of the task and the rudimentary technology used to address it, namely spreadsheets. For instance, if a user makes a mistake in one of thousands of individual cells, that error becomes an operational risk that may not be detected until an expense has been charged to investors. Moreover, spreadsheets depend on manual data collection, manual data entry and legacy calculations, all activities that take up a great deal of time.
The below questions are designed to help managers assess their need for an automated expense allocation solution as they look to move beyond their use of spreadsheets and other manual processes:
Depending on your answers to the above questions, it may be time to consider an automated solution for a more accurate and efficient expense allocation process. IVP Expense Allocation Solution reduces the risks of errors and streamlines compliance, all with a detailed audit trail for improved transparency throughout the expense allocation process. This expense allocation solution also provides fund managers with the ability to fully automate the expense capture, approval, allocation and final payments process, while improving both accuracy and efficiency to drive long-term success.
Learn more about the IVP Expense Allocation solution or contact sales@ivp.in to schedule a demo.
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This expense allocation solution helps asset managers improve accuracy and efficiency, reduce the risk of errors, and guarantee compliance. It ensures that in-house teams can process most allocations swiftly, allowing them to focus more on exception handling. Accounts payable and expense allocations are also tracked by the platform through customizable reports. Additionally, it offers easy-to-set-up invoice approvals and maintains a detailed audit trail for approvals, rejections, and changes.
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