For many financial institutions around the world, brokerage management poses complex challenges. Despite the shared goal to create, log, reconcile and settle invoices quickly, the lack of common industry standards leads to diverse approaches adopted across the marketplace. Compounding the issue, is data integrity, rate schedules, and execution of EGUS agreements which impacts an institution’s ability to deliver a robust, efficient process.
BUSINESS CHALLENGES
Lack of infrastructure for invoice generation and reconciliation; rate reconciliation resulting in incorrectly calculated brokerage and erroneous balance sheets.
A significant manual effort by under-resourced teams leaving less time to resolve issues.
Multiple data discrepancies and unstructured procedures Backlog of EGUS agreements to execute, resulting in delays in setting up eRates and rate schedules erroneous balance sheets.
Poor transparency of trade level cost and performance metrics adversely impacting broker negotiations.
THE BILLING MANAGER SOLUTION
eClerx Markets can resolve your brokerage infrastructure challenges by deploying our proprietary Billing Manager technology solution. Supported by a dedicated project management and support team, eClerx’s holistic solution empowers firms to streamline and standardize brokerage management functions. Giving you more time to focus on higher priorities and core competencies within your organization.
Our Billing Manager platform provides robust support throughout the billing lifecycle. To help manage all your billing needs, eClerx Billing Manager integrates seamlessly with your accounting system, enhanced with a wide array of features that include: invoice digitization; static data capture; data cleansing; automated reconciliations and journals; payment generation and a suite of MI metrics that provide oversight.
Streamline and standardize your brokerage management functions
Experience the future of Financial Services.
