Summary
A leading global financial institution partnered with Sonata to migrate from their outdated Lotus Notes-based system to a modern, efficient platform using Microsoft Power Platform and Office 365, resulting in significant time savings and an 80% efficiency improvement.
Client Overview
The client is a prominent global financial institution renowned for offering comprehensive wealth management, asset servicing, asset management, and banking services to corporations, institutions, and high-net-worth individuals worldwide.
Revenue
$12.8B
Assets
$156.1B
No. of Employees
23,000
Pressure Points
Manual Process
Existing system relied heavily on manual steps using Lotus Notes mail forms.
Error-prone Approvals
Cumbersome approval processes with multiple validation stages.
Excel Macros Dependency
Updating the Fund Master was prone to issues and required significant manual intervention.
Data-handling Inconsistency
Inconsistencies and delays in data processing due to Excel databases.
Complex Queue Management
Inefficient management of approved requests via CDM queues or mailboxes.
Solutions
The client needed a robust solution to streamline operations and improve efficiency. To address these needs, a multi-phased approach was proposed, focusing on the following key solution areas:
Replacement of Legacy System
Replaced Lotus Notes mail forms with modern, user-friendly PowerApps forms.
Automation Implementation
Automated CDM processes using Power Automate Desktop bots, eliminating outdated Excel macros.
Data Management Enhancement
Developed streamlined app-based data consolidation system to reduce manual follow-ups.
Integration with Existing Tools
Integrated Outlook and Excel with Power Automate for seamless data and notification management.
App Management
Utilized Office 365 for comprehensive application and data management.
Services
- RPA Platform Modernization
- Application Development
Technology
- Power Apps
- Power Automate Desktop
- O365
- MS Share Point
- Outlook
Results
Efficiency Optimization
Significant reduction in manual tasks, leading to faster processing times and fewer errors.
Error Reduction
Automated validation and approval processes minimizing human error risks.
Process Streamlining
Elimination of redundant steps and improved data handling efficiency.
Faster Turnaround
Accelerated processing and approval times through automation.
Enhanced Data Integrity
Integration of PowerApps providing live data updates of the Fund Master.
Improved Workflow Visibility
Enhanced visibility into approval workflows and statuses.
By the Numbers
2-3 minutes
to submit requests, down from 10-15 minutes.
80%
efficiency improvement
3 staff members freed up
for strategic tasks with CDM queue management automation
