Good Morning,
Welcome to this Monthly Focus about LexiFi’s forthcoming new user-defined Workflow tool.
Workflows will no longer require application updates or other time-consuming IT processes. They can be created by Client Super Users or LexiFi Product Specialists.
This built-in workflow tool should answer around 90% of your organizational needs. You may be interested in this functionality if you are looking to manage your activities in a coordinated way and define roles and responsibilities. Workflows are meant to help you meet your organizational and regulatory needs.
We like to think of it as rails for your daily activities and tasks! It could be to:
- Set-up trade and product validation workflows
- Read-only objects
- Data visibility
- Sequencing of tasks, events, and processes
A basic example
Workflows can be used to organize actions and responsibilities within your organization. You can manage what can be viewed, created, and/or modified. One example is to restrict the modification of contract information after a trade approval. Another is to avoid “information overload” and clutter. This can be done by giving access/visibility to relevant information for each sales advisor.
“Sales/Relationship Managers” can only see their own contracts or other approved contracts
“Structurers” can see and modify all contracts, including those in drafting/approval states
“Clients” can only see contracts in their own portfolios
There are infinite workflow possibilities. You may find below some examples, where workflow actions can be assigned to different team members!
Issuing new contracts
A workflow example for a new issue registration could be:
- Multi-stage approval
- Generate documents based on the current status of an issue
- Enrich product information (i.e. ISIN, Registration Number, Risk Rating)
- Generate KID
- Send notifications
Buy-side lifecycle management
A lifecycle workflow could be as follows:
- Confirm cash-flow with the issuer
- If the cash-flow is confirmed; then, notify the client/relationship manager
- Update internal report
- Send reports and notifications to middle/back office for validation
Structuring/sales Eureka
New trade idea workflow:
- Write a comment on an idea
- Vote for an idea (Support/ No Support)
- Discover the price (Store the retrieved RFQ quotes from different issuers)
- Create a contract from an idea
