Customer description

Fidemont is a corporate and fiduciary services global firm, that specializes in assisting prominent legal and tax advisors, entrepreneurs and the world's leading companies and financial institutions on their most demanding transactions and assignments.

With a global reach and offices and affiliations in major business and financial Centers.

Problem to solve

The consequence of the growth in the number of clients in addition to the complexity in the administration of their operations and the fact that the services are offered by multiple companies in different countries is that, using a purely accounting system for the registration and for the control of the analysis of each client's debt and profitability, as well as issuing the group's consolidated financial statements, is an almost impossible task.

At the same time, it became necessary to incorporate a tool that would allow the registration of the contracts signed with clients and generate the recurring invoices automatically.

Finally, the need to implement procedures to comply with due diligence was raised, complementing the need to provide documentary support to the requirements imposed by the regulator of each jurisdiction.

What and how was it made?

Once the problem was identified, a Gap & Fit analysis was undertaken, where the operational processes and functional requirements were analyzed. Based on this information, a document was prepared indicating which requirements where going to be solved by our software platform and in which modules extra configuration and/or additional development would be required.

As a result of the study, the scope of the implementation of Impact-iTech’s suite of products was determined, which included CAMS-iTech and IBS-iTech systems.

Results obtained

Thanks to the implementation of IBS-iTech it was possible to simplify and efficiently solve problems such as, the registration of transactions with great complexity in their accounting, the automatic generation of invoices based on the periodicity specified in each contract, analysis and control of aging of debt, registration and control of doubtful debtors, generation of consolidated reports of for more than twenty companies of the group.

Thanks to the implementation of CAMS-iTech, it was possible to simplify and efficiently solve problems such as the unification and automation of the KYC and Due Diligence processes, complying with the requirements and regulations of each of the jurisdictions in which they operate and provide Services. The system also facilitated the duties of the Compliance Officer, having a single platform where they configure the required changes to fulfill the requirements from each jurisdiction and where the requirements are automatically replicated to each of the offices, allowing also the issuance of reports to analyze the level of compliance.

Today, Fidemont uses the Impact-iTech suite of products as a comprehensive solution to provide services in the various jurisdictions in which it operates, such as company management, trusts and foundations.