Key Challenges

The initiative faced a range of complex challenges—operational, technical, and jurisdictional. One major issue was dealing with currency and payment mismatches, where issued invoices were in one currency (e.g., USD) and paid in another (e.g., INR), requiring advanced mapping and currency conversion logic.

Country-specific regulations, tax compliance and intercompany charges (such as between Asia-Pacific entities) added further complexity. This was further compounded by currency-specific nuances like decimal rounding for JPY transactions.

Technical issues like system incompatibility and data integrity also surfaced, such as leading zero errors in dataset reconciliations, CFP system limits with processing multi-line voucher distributions, and the challenge of mapping 3,000 invoices across 1,000 accounts from three separate data sources. The project required extensive coordination across multiple departments with interdependent timelines and workflows. In Asian markets, manual legacy processes and workarounds had to be automated, demanding workflow redesigns and system upgrades.

Tight global timeline constraints added pressure, as integration and go-live activities had to align with critical quarter-end reporting. To support this, CJC developed and approved multiple patches to their existing market data management tool for technical remediation, enabling system compatibility while managing dependencies and avoiding process conflicts.

Outcome

Overcoming the global challenges while avoiding process conflicts was no mean feat. After a period of significant and extensive work, CJC’s Commercial Management team successfully unified and delivered a streamlined market data workstream within the broader CFP programme.

Crown Jewels Consultants is proud to have enabled this high-impact transformation to help this global asset manager achieve a unified, efficient, and compliant accounts payable operation.

Client Benefits

• Unified AP Platform.
• Operational Efficiencies
  (Automation, Real-Time Payment Updates, & Significant Time Savings).
• Enhanced Data Integrity & Compliance.
• Financial Control & Budget Oversight.
• Risk Mitigation (Operational, Financial & Regulatory).

Industry

• Global Asset Management.

Platforms

• Core Finance Platform (CFP).
• An Accounts Payable Tool (AP).
• A Market Data Management Inventory Tool.

Client Requirements

• Unify Global AP processes.
• Migrate Legacy Procurement and AP Tools.
• Achieve Operational Efficiencies.
• Streamline Market Data Workstream.
• Centralise Invoicing Payment Solution.

CJC Services

• Strategic Commercial Management.
• Market Data Inventory Management (IM).
• Technical IM System Integration.
• Market Data Administration.
• Workflow Optimisation.

CJC Partnership Benefits

• Deep Market Data Expertise.
• Vendor-Agnostic System Knowledge.
• Finance Operations Understanding.
• Regulatory Compliance Experience.
• Regular & Transparent Progress Reporting.
• Risks Mitigated: 
  • Operational and Financial Risk.
  • Regulatory Compliance.
  • Efficiency and Transparency.

About CJC:

CJC is the leading market data technology consultancy and service provider for global financial markets. CJC provides multi-award-winning consultancy, managed services, cloud solutions, alert monitoring and observability, and commercial management services for mission-critical market data systems. CJC is vendor-neutral and ISO 27001 certified, enabling CJC’s partners the freedom to focus on their core business.

Email: marketing@cjcit.com
Tel: +44(0) 203 328 7600