| | MAY 202019CIOReviewget a comprehensive view of their financial data and manage transactions accurately while mitigating risks and discovering opportunities to grow on the go," mentions Mallernee. At present, Eton has 110 employees and about 12 major family office clients. Eton re-engineers the clients' business processes from the ground up before the platform implementation, so clients are sure to achieve a high ROI. Moreover, they leverage not only the technology but also our team's 30 years of experience and know-how in managing businesses efficiently," he adds. In addition, Eton provides dedicated support during and after the platform implementation. Eton has also built a global technology center in Bangalore to develop the talent required for services to current clients and future innovations.Comprehensive Transparency on Net-Worth"Our goal is to leverage AI to draw insights from client data and bring the market developments to their attention to maximize the probability of meeting financial goals," adds Mallernee. Besides, AI allows clients to quickly ingest documents, tag, store, and then index them to drive data integrity and internal consistency. This facilitates managers in reviewing, reconciling, and evaluating data that flows in from banks and investment firms. The company is enhancing the capabilities of its AtlasFive platform by undertaking several pilot AI projects that are in line with current market trends. AtlasFive comprises a comprehensive application suite that includes entity management, data aggregation, investment reporting, general ledger, partnership accounting, transaction initiation, and security master management, among others. The data aggregation and consolidation tools built into the platform process the data according to the business rules and deliver reports on general ledger, investment performance, risk, and cash flow accurately. The integrated audit and compliance feature reduces the risks related to clients complying with the applicable rules and regulations, as well as internal codes of conduct, policies, and procedures. Further, AtlasFive's document management system is integrated with the entity management and transaction processing systems as well as reporting engine for users to gain a holistic view of all their entities while working on a document. Among the several clients that Eton has catered to, the story of its multi-family office client stands out. "We have not only helped them re-engineer their numerous manual processes, including investment performance reporting, security management, and daily data aggregation, but also created a highly-efficient and profitable multi-family office. Working collaboratively with them, we supported their staff with our support team. Leveraging our platform and services, the multi-family office was able to gain two times the profit compared to competitors," extols Mallernee. In another instance, a very large single-family office approached Eton to eliminate the manual working processes in the daily reporting of their current net worth. Eton built the daily reporting system that had tremendous functionalities apart from providing extensive investment performance reports, which helped them track hundreds of intra-family loans and business process issues within the family office environment. Moving Forward with a Promising FutureEton focuses on continuously enhancing the platform's features with new functionalities. "We are planning to build client-facing mobile applications that are user-friendly to cope with the UHNW families' huge shift in asset management from the older to the younger generation. We are also building additional tax functionalities to help users analyze their data much more efficiently and summarize and categorize it in their tax preparation packages," says Mallernee. The company has a blueprint for building tools that aid in detecting the appropriate asset allocation for users. Developing estate modeling solutions for restructuring their assets is also on the cards of Eton's future endeavors. "We are highly concerned for our clients' benefits, and accordingly, we have incorporated additional intelligence into our platform for smarter estate planning," concludes Mallernee.
< Page 9 | Page 11 >