Billing Manager

  • Our engagement
    till date

  • <5%

    Provision rate

  • >95%

    Trade matching rate

  • 30%

    Reduction in manual effort for large brokers.

Brokerage Lifecycle Management.

Tracks variable expenses related to trades from both payable and receivable side starting from accrual calculation, invoice processing, settlement tracking and fund application or cost allocation.

Keywords:
compliance

With Billing Manager, you get

  • Rapid turn around

    Accrual data ready by end of month, leading to invoice dispatch for receivables by BD 5 and faster turnaround for payable. 87% of brokerage payables (manual) and 92% of brokerage receivables (manual) closed within 30 days.

    Colorful Cloud capturing data
  • Colorful Cloud capturing data

    Duplicate Payment Avoidance

    Trade level reconciliation enables easy identification of duplicated trades (already paid via electronic platform), as well as trade level fund application, allowing for robust balance sheet substantiation and avoidance of duplicate payment.

  • Multi Level reporting

    Pre-defined reports providing incisive management information as well as the ability to drill into detail across numerous dimensions.

    Colorful Cloud capturing data

CHALLENGES

Managing the process in getting the parties to sign a give-up agreement, handling rate changes, and determining who gets paid what is a highly manual process resulting in high operational cost. Major challenges faced by industry are listed below:

  • 1.

    Unstructured invoice repository with improper invoice management .

  • 2.

    Manual invoice generation and elongated billing cycles.

  • 3.

    Reconciliation was non-existent required to develop infrastructure for all exchanges.

Integrating Data Into a single system for Manual and electronic Billing classes

eClerx has considerable domain experience in Listed Derivative brokerage work-streams. eClerx has set up a global hub for Listed Derivative Operations across all listed products and 30+ exchanges for its clients. As a part of this service, eClerx has developed an end to end solution named “Billing & Brokerage” for brokerage payables and receivables along with a module for exchange fee reconciliation.

SOLUTIONS

01 Brokerage Payables

End-to-end invoice processing, logging & reconciliation with discrepancy resolution and payment validation.

02 Exchange Fee Reconciliation

Client system matching for incorrect accrual identification, allocation of variation fee and existing fee restructuring on corresponding exchange systems.

03 Data Integration

From legacy back-office solutions (GMI,R&N) and electronic brokerage platforms (eGains,GPS).

04 Brokerage Receivables

End-to-End receivables management, accounting and discrepancy resolution with rate schedule creation and trade pricing for eTrades.

05 Electronic Trade Reconciliation

Reconcile brokerage amount with feeds from electronic platform and allocate the variation in fee to underlying accounts.

BILLING MANAGER SERVICES

Payables - Invoice Tracker / Auto Matching

Payables - Invoice Tracker / Auto Matching.

  • Automated trade level reconciliation, 30% reduction in manual effort for large brokers.
  • Real-time tracking of all invoices with 100% audit on manual processing.
  • Provision to raise multiple discrepancies with detailed description of open issues.

Receivables - Invoice Generation / Broker Feedback

Auto invoice generation and dispatch by BD 5, 80% reduction in manual effort.

  • Auto segregation of all electronic trades based on trade broker and exchange mapping .
  • Broker level outstanding summaries and electronic reject invoices generation.
  • Broker feedback upload for effective review and prioritization of all discrepancies.

Balance Sheet Substantiation

Interfaces with industry platforms like EGAINS and GPS and uses industry standards where prescribed by bodies like FIA.

  • Accrual and payments (made or received) tracked at a trade level, so that revenue and costs can be allocated to the correct accounts and also exceptions can be tracked at a granular level.
  • Adjustment posting at invoice level that can be traced back to trades with exact issue details.
  • Peer review of discrepancies at trade level ensures accurate fund application and accrual drawdown.

Metrics and Reporting

Financial, Operational and Control metrics to: Provide data transparency, collection trending.

  • Effective discrepancy resolution and management Better performance management.
  • Daily / weekly / monthly reports providing visibility on outstanding at broker level.

OUR INSIGHTS

View All
  • Strategic Change management

    Transforming Syndicated Loans Credit Agreement Management with eClerx DocIntel

    Revenue output reached $.5M

    Explore More
  • Operation Accelerators

    Transforming Client Lifecycle Management with eClerx Compliance Manager

    Revenue projection increased by 112% in the first 2 fiscals

    Explore More
  • Strategic Change management

    IT Data Transformation
    and Migration for an IT Major

    Savings delivered: $5M per annum

    Explore More