Stanlib
AutoRek has been one of the most stable tools in our tech stack during our growth period over the last few years. With automation, our team has seen a massive increase in productivity and have more time to focus on value-add tasks.
Rustam Juguth IT Infrastructure/Vendor Support Head at StanlibThe client
STANLIB is a South African asset management firm, administering over R600 billion in assets under management.
The challenge
STANLIB sought an automated reconciliation solution that was flexible and could scale alongside business expansion.
As an investment manager, it was equally crucial that STANLIB acquired a tool that could handle large volumes of transactions.
The solution
AutoRek implemented an automated client money solution to streamline and simplify reconciliation processes.
The solution ingests data from multiple different sources and then validates balances between internal and external sources. It also performs data validation checks and creates custom reports ahead of matching, giving STANLIB more time to focus on true discrepancies.
The benefits for STANLIB
Fully scalable to support company expansion
STANLIB came to AutoRek in the early stages of business looking for a flexible solution to support their scaling ambitions. With a flexible solution now in place, they can continue to expand operations with no concerns around reconciling growing transactional volumes.
End-to-end automation for greater efficiency
Before implementing AutoRek, STANLIB’s reconciliations were manual and performed in Microsoft Excel. However, higher levels of automation have reduced the risk of manual errors and freed up employees to focus on more critical areas of the business rather than repetitive data work.
Enhanced cross-team collaboration
The in-built workflow functionality of AutoRek has allowed STANLIB to connect its departments together more seamlessly. During the matching process, different teams across the business – whether finance or operations – are aware when items don’t match and find their resolution much simpler. The permission controls functionality also ensures that employees operating the AutoRek platform have the necessary authorisation to do so.
Ease of use and self-sufficiency
STANLIB wanted a tool that was built with usability in mind. The intuitive and straightforward user interface on the front end of the AutoRek solution has removed a lot of the friction for end users when managing reconciliations.
Data control
Comprehensive data validation checks and custom reporting have put STANLIB in complete control of their financial data. While reducing manual processes was the primary goal for STANLIB, they also wanted a solution to surface MI and other key insights into business performance.