Milestone Group, the specialist provider of optimised fund processing solutions to the global funds industry, today announced that Skandia, the largest platform operator in the UK, has fully migrated its income distribution and reconciliation processes onto Milestone Group's pControl platform.
This follows Skandia's successful implementation of pControl for fee and rebate management in 2011.
The ability to automate these key functions onto a single scalable platform simplifies Skandia's systems architecture and business processes driving substantial operational efficiencies across the business.
Enhancements around income distribution processing are provided by pControl's fully integrated data management, process control and powerful exception handling and validation capabilities. Reconciliations also benefit from these capabilities providing a consistent user experience. This delivers an extremely effective and consistent control environment around Skandia's operations.
"We commenced the transition to pControl at the start of 2010 with the long-term plan of implementing the technology across our fund processing operations." states Peter Fleming, Head of Investment Administration, Skandia. "What's so beneficial about the Milestone solution is that it enables us to handle multiple business processes from one platform. The improvements in control, efficiency and flexibility we have already made means we were very keen to roll out pControl to other areas of business."
Paul Roberts, Managing Director - Europe, Milestone Group, added, "We are delighted that Skandia is live and benefiting from the use of pControl. The successful deployment at Skandia is another example of an industry leader leveraging a single business application to automate multiple functions across their life and platform business."