Orion Advisor Solutions is a premier financial services and solutions provider based in the US. Orion supports more than 2,200 advisory firms with $1.4 trillion in assets under administration and an additional $48 billion of combined platform assets. Their flagship Orion Connect portal serves clients across banking, financial planning, operations management, compliance management, and investment domains.
There were four vital drivers behind Orion’s desire to begin implementing automation:
- Scale business processes
- Decrease operational errors
- Improve client experience
- Bring about cultural transformation
JIFFY.ai’s intelligent automation solution addressed these four major business use cases for Orion:
- Eliminated the need for manual intervention in new account creation from custodian data. The solution ensures 24/7 availability without stretching resources.
- Transformed the monthly statement curation process. The solution extracts data from custodian sources, creates statements, and uploads them in a presentable format to the client accounts, thus reducing the volume of month-end efforts for Orion’s employees, and improving their client experiences significantly.
- Automated the transfer of redemption request metadata between Orion Connect and the ECM, keeping that channel intact. This ensures that repetitive, rules-based steps are performed automatically while keeping a ‘human in the loop’ for approving exceptions.
- When a request is submitted to update model allocations, the automated solution now pulls trade data and creates a list for the Traders to be notified. It then updates the allocation information and sends out the appropriate trade notifications in real-time.
- Two automation processes in production, saving 2,000 person-hours of effort annually.
- One automation process undergoing user acceptance testing, saving 390 person-hours of effort annually.
- Three automation processes in development with potential savings of 5,000 person-hours annually.
“We are confident about setting up a roadmap towards sustainable digital transformation by applying automation to address our specific business challenges. To embark on intelligent automation opportunities, it is essential that we first save the valuable time and efforts of our employees so that they can continue laying the foundation of future excellence today.”
Randy Lambert, Chief Operations Officer, Orion