INOCAP Gestion gains speed, effectiveness, and confidence
Like many asset managers, INOCAP Gestion realized that the investment management platform for their OPCVM range (named Quadrige) had limitations, but they consistently figured out how to make the best of it. However, over time, their provider’s lack of investment in new functionality and offshore staffing model began to create too much risk. In addition, the lack of digital workflow and real-time data posed numerous challenges for the entire INOCAP team, from front to back office.
Enfusion’s complete coverage, from portfolio management, position management, and valuation to orders and execution, allowed INOCAP to take a significant leap forward to a fully digital process. Having a single solution lowered unnecessary operational risk while at the same time gaining visibility and efficiency. These benefits were a perfect match for INOCAP’s plans, allowing them to replace multiple disconnected systems with a single efficient platform. Furthermore, as a cloud-native and seamless platform, Enfusion was the ideal solution to take INOCAP out of a world of wipe-and-load data transfer from system to system.
Prior to migrating to Enfusion, INOCAP Gestion was unable to achieve straight-through automatic processing of all transactions. As a result, decisions made by portfolio managers and reconciliations made by middle office did not move forward seamlessly across equities and bonds. Enfusion has added not only efficiency but confidence. “The reliability of the data in Enfusion is a strong point for us. We no longer need to do manual reviews and comparisons. It allows our managers to concentrate on their portfolios with confidence,” said Papa-Sidy.
The same benefits emerge as orders are placed and executed through EXOE. “Having real-time connectivity to our trading counterparties and data sources in one single platform saves us a lot of time and anxiety,” Papa-Sidy added. Enfusion’s embedded pre-trade compliance rules also help INOCAP prevent issues and rule breaks before they happen.
Compared to its prior provider, INOCAP has noticed a substantial shift in the level of commitment and attention they receive. This difference emerged from the very beginning. “[During implementation] the Enfusion team was very invested in addressing every issue… They worked hard to make the project a success,” according to Papa-Sidy.
That onboarding commitment has paid off in INOCAP’s ability to make the transition to Enfusion seamlessly. “Enfusion adapted to our needs instead of forcing us to adapt. Portfolio managers were able to move to the platform in just two days,” Papa-Sidy commented.
In addition, INOCAP benefits from Enfusion’s approach to innovation. Unlike products with long upgrade cycles, Enfusion develops and pushes features live every week. As a result, clients see rapid innovation and have access to new features that directly benefit them. Papa-Sidy called out one example, in particular, needed for compliance with French regulations. “We need to follow specific share class accounting principles for NAV calculation in France. Enfusion is moving quickly to integrate those regulatory requirements directly in the platform.”
This investment, and Enfusion’s overall approach to uniting front-, middle-, and back-office functions, has been a significant change for INOCAP. It gives them newfound ease and confidence to trade and grow.