Success Story: Allianz Global Investors in Europe

Introduction of calculo for the calculation of product- and distribution data

Allianz Global Investors in Europe

Parallel to the introduction of a European Trailer Fee billing solution, Allianz Global Investors in Europe (AllianzGI) has worked closely with Sowatec to develop and implement SCORES - a rule-based Sales Controlling platform. Besides data preparation and enrichment, SCORES handles a wide variety of calculations relating to the funds managed, administered or sold by AGI including AUMs (Assets Under Management), NCF (Net Cash Flows) or transactions.

Success Story

Company

Allianz Global Investors manages assets in all major asset classes and regions. The experts of the asset management unit at Allianz SE are globally present with 22 locations in 18 countries and a strong presence in Europe, the USA and Asia. With some 500 investment specialists, the investment management team covers every important financial and growth market in the world.

Interviewee

Guido Bachmann, Head of Revenues, Corporate Finance Allianz Global Investors talks about the introduction of Scores for the calculation of product- and distribution data.

Details

  • Background

    Parallel to the introduction of a European Trailer Fee billing solution, Allianz Global Investors in Europe (AllianzGI) has worked closely with Sowatec to develop and implement SCORES - a rule-based Sales Controlling platform. Besides data preparation and enrichment, SCORES handles a wide variety of calculations relating to the funds managed, administered or sold by AGI including AUMs (Assets Under Management), NCF (Net Cash Flows) or transactions.

  • Goal

    With Sowatec’s business rules-based solution, AllianzGI has been able to unify their European processes, systems and databases in order to create a foundation for a central sales controlling and management reporting system. By replacing the existing systems, all relevant data will be stored on a single sales controlling platform. This will result in a uniform basis for data management that will allow greater data security and quality as well as more flexibility and functionality via individually configurable tests.

  • Solution

    Thanks to the central Sales Controlling platform, data from widely different sources (Golden Sources) can be processed, aggregated and analyzed. This data is subsequently used for the reporting of various internal organizational units and functions (sales, product management and the European management). The information also serves as the basis for the pan-European Trailer Fee calculation

Read an excerpt from the interview with Guido Bachmann, Allianz Global Investors in Europe.

The Trailer Fee calculation requires master and inventory data, as well information about complex sub-custody logic. Furthermore, a variety of relationships between the worlds of Sales Controlling and Trailer Fees need to be mapped by the platform. With SCORES, complex calculations (including AuM and NCF) covering various fund groups can be performed. In addition to internal reports and queries, data can also be sent to the global finance and reporting systems.

The implementation and go live of the project was structured in several iterations. What were the key factors for this implementation approach? 
With the constraints and dependencies of the 2 parallel projects, we wanted to achieve quick wins and to gain experience. We decided to migrate the smallest entity and system first as a pilot (i.e. France). This was achieved on January 1, 2014. Afterwards we concentrated all our resource and effort on the rest of Europe, benefitting from the pilot experience.

What improvements were made in terms of process, timeline and quality of data?
We now have a European harmonized process which enables us to deliver very good quality timely reports (weekly at D+5). We are nevertheless still working to optimize the timing. .

Guido Bachmann Guido Bachmann

Head of Revenues, Corporate Finance


"Scores enables the Sales controlling team to be a trusted advisor to the Sales Managers when it comes to steering the business."

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