Broadridge launches forecasting module
Broadridge Financial Solutions has launched a new forecasting module within its revenue and expense management platform.
Often performed on disconnected spreadsheets and applications or done manually, the process of projecting fees and constructing budgets can now efficiently be performed along with revenue and expense processes within a single technology platform.
Broadridge’s revenue and expense management solution tracks and calculates fees across a variety of complex workflows and helps asset managers and other financial services providers improve revenue reporting. The technology is used by asset managers, hedge funds, wealth and bank clients globally to automate processes to achieve more efficient accounting functions, faster invoicing, streamlined expense reconciliation, more accurate billing, improved auditing and now forecasting.
“Broadridge is committed to driving innovation and making technology enhancements to better meet the needs of our clients,” says Andrew Peddar, head of Broadridge’s revenue and expense management solutions. “The ability for financial services firms to forecast revenue and expenses so efficiently is going to help them make better business decisions and do so with more confidence. This enhancement provides additional opportunities to automate and streamline separately managed processes, eliminate duplicate data repositories and increase visibility and control.”
The forecasting module allows clients to leverage existing billing constructs and data already within the revenue and expense platform, eliminating the need to re-configure on multiple platforms. Clients can comparatively analyse revenue and expense results with an unrestricted approach for running projections, allowing for forecasting using actual data from past and present time periods to create accurate and consumable future forecasts. The technology features what-if modelling, where clients can transpose real-world scenarios into their forecasting. The ability to flexibly select and grow data enables clients to systematically interject a variety of change elements to their data throughout the forecast.
The new forecasting module takes advantage of Broadridge’s recently announced strategic partnership with Sisense. Embedded Sisense data intelligence tools provide dashboards and insightful management information reporting in the complex budgeting and forecasting process.