ISEC – Servicing complex client needs
ISEC Group AB is the biggest independent fund administrator in the Nordic region and we met up with their CEO, Bo Liljengren, to talk a bit about how they use Daymi and what benefits they gain from our product. ISEC is currently administering more than 160 funds and 3 000 portfolio accounts with a combined AuA (Asset under Administration) of more than SEK 250 billion. Before Daymi ISEC managed all clients and processes in multiple checklists coupled with work descriptions and many status meetings.
Managing growth with quality
The company’s managed to combine a rapid 20–30% annual growth with high-quality deliveries by introducing Daymi as a vital tool to their business.
“The Daymi tool allows us to rapidly onboard new employees thanks to the fact that the processes are visualized and described step by step. If you follow the process and descriptions from start to finish you minimize the number of questions and errors.” Bo Liljengren – Chairman of the Board and ex-CEO
Rapid growth and international expansion
ISEC now has cross-border teams with members in both Sweden and Lithuania. Daymi has enabled a seamless distribution of tasks within the teams and gives instant oversight of processes, no matter where they are performed. “The team has a mutual workflow in place, and use the Daymi tool to co-operate and assist one another if tasks are lagging behind. It is easy for the team to make sure it gets the attention needed before we miss a deadline.”
Automatic sign-off for ISAE3402 audits
Because of the full audit trail within the tool, the sign-off in Daymi is used as key controls in many of the control objects in the ISAE3402 audit process. “The fact that we can replace physical sign-offs with electronic sign-off means that we save a lot of time during the audits and in our daily tasks.” ISEC has more than 400 main processes and 2 000 sub-processes mapped in Daymi. The activities range from daily recurring tasks such as reconciliations and NAV calculations to monthly and yearly regulatory reporting.
ISEC is a long-time client of Daymi and has gone through several generational shifts for their operations. At ISEC Daymi is truly the hub for all processes. By making sure processes and work descriptions are up to date in Daymi, onboarding new staff and clients are quickly and easily done.
Like to know how Daymi has helped other companies within finance to optimize their tasks and processes? Click here!