A recent breakfast seminar hosted by C5 Alliance Group showed Channel Island delegates how current and future regulatory reporting requirements can be managed efficiently through the application of various Microsoft technologies.
The event, entitled ‘Leveraging Microsoft Technologies for Regulatory Compliance’, featured live demonstrations of the latest versions of Microsoft CRM and SharePoint to illustrate effective reporting solutions and how existing solutions can be easily adapted to face future requirements.
Aonghus Fraser, Head of Process and Platforms at C5 and a speaker at the event, said:
“Many companies fall into the trap of feeling like regulation is an onerous burden, thinking they’re going to have to spend all of their time trying to produce reports to be compliant.
“There are a lot of upsides to having a platform that enables you to report on these systems. Your relationship managers will have all the information needed to better service their clients at their fingertips.”
The event highlighted that along with providing an efficient and future-proof solution for reporting requirements and due diligence, the platforms can bring a string of other benefits by providing self-service management information.
“It makes sense to start initiating other workflows – based on the same triggers that are being used for regulatory reporting – to provide better customer service,” said Mr Fraser.
Dan Hare, director and head of the Business Intelligence team at C5 Alliance Group, who also presented at the event, explained that one of the key benefits of these technologies was that they empowered the end-user, being largely scalable and extensible without relying on the use of complex code.
“These platforms are best of breed and are accelerators, allowing you to get a lot more for a lot less; they combine high power with low levels of development and this allows our clients, with some guidance, to take control of their own systems after the initial implementation,” he said.
C5 Alliance publishes white papers covering the design patterns used in solutions to regulatory requirements such as FATCA and AIFMD, available on its website.
“Once the initial solution is in place, the user can adapt it to other business critical uses. There is a lot of material available on how you can use these platforms in other ways to drive more business and manage your clients better,” said Mr Hare.