UK investment management group Jupiter Asset Management has selected TLM OnDemand, SmartStream’s SaaS reconciliation service, for its cash and securities transaction processing.
With TLM OnDemand, Jupiter can access the TLM Reconciliations-Premium solution through a transaction-based pricing model.
This will enable it to benefit from SmartStream’s latest transaction matching engine, enhanced exception management and investigation capabilities, and improved reporting capabilities without the rigid operational costs associated with an on premise installation.
A spokesperson for Jupiter Asset Management says: “Using TLM OnDemand is attractive as it introduces greater levels of automation through proven technology. As a result of its industry leading match rates we can improve our transaction processing efficiency, while the flexible pricing model enables us to better align operational costs to processing requirements. The SaaS-based approach also lowers the lifetime cost of the solution as we don’t have to manage related IT such as hardware or software upgrades; that is all delivered as part of the service.”
Richard Cummings, executive vice president at SmartStream, adds: “Many firms are looking to introduce technology to make their back office operations more efficient but also need to ensure any IT investment delivers greater value. TLM OnDemand’s SaaS approach provides a lower total cost of ownership route to accessing our market leading technology but without compromising on the functionality of the tools provided to the end user.”