Best International Group is a leading consultancy and asset management company, servicing both corporate and private clients to help companies achieve growth opportunities and investors to gain rewarding returns.
An Upwardly Mobile Business
In the first half of 2016 alone Best International Groups’ clients launched products to the value of £72 million. A significant increase to the £47m launched in 2015 and £20 million in 2014. Says consultant Shane Scott.
“Due to client referrals, our business uptake had increased significantly over the last 12 months, which subsequently had an impact on our administration of investments. We needed an efficient and effective solution that would support the demand in the best way possible. This required synergy of both the finance and administration functions, creating just one complete system.
“A system to seamlessly provide automation of statements and investment summaries, management of real time reporting and client management, the required level of data security, timely alerts and information requests, valuable data reports to strengthen relationships and overall improve the client experience with the ability to support clients in the best way possible.”
Until Kaleida got involved, many tasks were completed manually or via unrefined systems. The lack of connection between management and finances lead to a lot of duplication and inefficiencies. Says Shane, “The old processes were no longer fit for purpose”.
“It was important that we consolidated all our data into one system,” says Project Consultant Cath Sweeny, “transferring data from spreadsheets and various systems into one complete system was crucial. It was equally critical that we were able to speed up the reporting processes.”
An Upwardly Mobile Software System
In March 2015 Shane Scott, Cath Sweeny (who had moved from her role as Financial Controller into a Project Consultant position) and the team set out to enhance their systems. Given the nature of Best International’s boutique service and innovative projects, it soon became apparent that only a bespoke system, tailored specifically to meet their needs and tie everything together would suffice.
“Our brief was broad” says Shane. “It took some time to discuss what we wanted with Kaleida, describing our workflows and processes. Once we had covered the detail of all our requirements, Kaleida soon came up with a proposal, time scales and mock ups that broke every section down into phases. This worked really well and was a brilliant way to follow the flow of activity.”
Cath added, “Not only were Kaleida really professional and easy to deal with, they seemed to be the only organisation that we talked to who had the capability and knowhow to do what we wanted to do. They understood that our business could not be molded into an existing system and that we would not compromise on quality. Like us they preferred to work on a relational basis – an open, ongoing dialogue, exchanging information and ideas.”
How to Eat a Digital Elephant?
One byte at a time.
Quite often, clients who undertake a bespoke project can find it really daunting. We made sure that Best were put at ease and we went through the process together.
“Kaleida understood our technical level, made everything easy to understand and were clear in what they could deliver. They were really good at assessing our needs,” says Shane.
“Everything was broken down into a sprint. Each sprint was three weeks long and analysed in detail, with priorities and testing agreed. Kaleida really understood what we did and given their experience were great at suggesting things that we wouldn’t necessarily have thought of ourselves.”
A Business Case Met In Full
The result? BiBop (Best International Bond Operation Platform) now manages all investment applications and management priorities. A system that gives staff more time to deal with client and agent relations. A system designed to deliver a raft of business benefits.
More efficient. More secure. More accurate.
In fact, here are those benefits as listed in the Best International Group business case:
- A 50% reduction in paperwork processing
- A 75% reduction in duplication of data entry
- The ability to automate yield and tax statements
- A full audit trail in investor and investment records.
As Shane predicts, “based on the rapid rate of business growth that Best International Group is enjoying, the return on investment should be realised sooner than predicted, with the system itself contributing to that rapid growth.”
Would you be happy to recommend Kaleida? “Absolutely. I’ve been through a similar project before and this was a completely different experience. Kaleida listened, they understood our business needs, how the system could best work for us and delivered on this.”
“I’d have no hesitation in recommending them.”
And Cath Sweeny? “Kaleida delivered exactly what they said they would. Some suppliers promise you the system you want and end up giving you a system they actually want. That was exactly what had happened with the system we were replacing. I’d be delighted to recommend Kaleida. It would be a pleasure to work with them again.”