Unit 4 Agresso, a leading business software supplier of and Screen Consultants, the leading independent market data specialist, today announced that they have entered into a partnership to offer a sophisticated browser-based order management solution for financial institutions.
The system, named INFOmatchAgresso, is the result of a seamless integration of INFOmatch, the leading cost and contract management system and the eProcurement module of Agresso Business World. The result offers best-of-breed order management functionality with state-of-the-art cost & contract management to support financial institutions in optimising the workflow in front and back-office.
INFOmatchAgresso Order Management enables dealing room management to reduce the administrative costs of managing market data and other components significantly through streamlined inventory management, automated order processing, and detailed efficiency analysis. The scope is not limited to market data, in fact all kind of products, ranging from office supplies to mobile phones are handled by the system.
The system is built for organisations that wish to streamline the process of ordering and cancelling products and services which are used by financial professionals, such as traders and portfolio managers. "Ordering or cancelling a service can be a hassle for a trader," says John Lathouwers from Screen Consultants. Unclear procedures and paperwork make this process rather inefficient. As a result, the trader gets frustrated because the time for the organisation to respond is too long and his or her manager loses overview of all requests. In addition, organisations run the risk of excessive spending levels when they do not have a proper overview of their inventory, in particular of the unused services, which might be re-allocated to requestors.
The main business benefit - cost savings – is realised through:
- an improved workflow, from order to implementation, which can be tracked graphically;
- the creation of individual cost awareness (online display of Information Services Profile plus actual Budget) in combination with the possibility to delegate budget responsibility to individual level;
- centralised inventory tracking/management.
INFOmatchAgresso is designed for organisations of all sizes. The system includes a web-based user interface for easy order entry and allows for E-mail notification for immediate approval or action. It is customizable with configurable business rules. This enables full online transparency of the order status for all parties, from request to delivery and online tracking of individual budget against cost. The reporting facilities allow for a detailed and complete process analysis.
"The integration with Unit 4 Agresso's order management facilities adds another dimension to the application of INFOmatch," says Peter Fruitema, director at Screen Consultants. "We want to serve our customers in the best possible way helping them to improve their business processes. INFOmatch is considered by many in the financial industry to be the best tool to support cost and contract management and inventory tracking. Order management is another process that is now covered by our range of products. Unit 4 Agresso has proven to be an excellent partner, thanks to their knowledge and experience in developing business software."
"In a dealing room environment, where often hundreds of traders and sales people are active, it is more and more common to dedicate a budget to an individual user. This budget can be tracked against actual cost, and creates real transparency for the end user. To facilitate the process of buying market data, Screen has developed a system years ago, which is used to track and manage inventory. This is now enriched with the eProcurement module of Agresso Business World, through which this process of ordering and cancelling services has become fully automised," says Martin Alaerds of Unit 4 Agresso.