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Gottex Brokers Alternative

BPM enables better compliance and customer service in financial investments management

Gottex Brokers Alternative abandons spreadsheets to automate compliance and improve tracking of complex financial transactions

“Bonita BPM allowed us to quickly get into BPM and into production, due to familiar tools and its ready-to-go portal. We are now more efficient, less error-prone, and have the necessary audit trail on each transaction to fullfill both our accounting and regulatory requirements.” – Fred Blaise, Sr. Technology Officer, Gottex Brokers Alternative

Business needs and the process to be automated

Gottex Brokers Alternative (“Gottex”), a financial service firm based in Lausanne and in the USA acting as an intermediary in the secondary market of hedge funds and private equity shares, is subject to some very specific and specialized compliance regulations, and needs to precisely keep track of clients’ sometimes complicated financial transactions.

They needed to better insure proper audit trails on actions taken, and management approval on certain tasks. Further, they were ready to get rid of a system of spreadsheets that led to excessive administrative overhead and were willing to move to a more automated and reliable process.
The Gottex technology team chose Bonita BPM, to be implemented with the support of Bonitasoft Integration Partner AiM at the start, to produce process based applications quickly without the need for intensive development. Bonita BPM Studio’s graphical user interface made it relatively easy for them to design their processes, and they used the web forms integrated into Bonita BPM. Previous experience with Bonita Open Solution (Community edition) convinced them that Bonita BPM was in line with their own technology vision, that is, Java-based and open source.

The choice for Bonita BPM

Specific Bonita BPM features critical to their needs included many connectors (for file saving, PDF creation, Dropbox and Egnyte cloud exchange), interfaces with an external JasperServer and BIME for reporting against their business database, multi-instantiation, iteration, and more. “Everything offered by Bonita BPM was pretty much used,” said Fred Blaise, Sr. Technology Officer at Gottex.

Gottex chose AiM to help develop, integrate, and deploy their first BPM process application. Also important, they looked to AiM to coach and train their technology team. With Bonita BPM and AiM’s added-value transfer of key expertise, the Gottex tech team is now able to be autonomous with their BPM platform for their process application development.

It took 240 hours over six months to implement the first process (version 1.0). Then, Gottex took over and with nominal support from AiM, have continued process development. Nine releases later, the process is running on version 1.4.2.

“Working with Gottex was very efficient. We combined our respective expert knowledge in different domains, to build the first release of process in a very short time, by sometimes pushing the boundaries of Bonita BPM. It was an exciting challenge,” said Ludovic Bertin, Java and BPM lead at AiM Services.

 “Bonita BPM allowed us to quickly get into BPM and into production, due to familiar tools and its ready-to-go portal. We needed very little customization to the out of the box web interface. Today the Bonita BPM Portal is used for both users and admins,” added Fred Blaise.

Key results

Gottex used Bonita BPM Performance to manually deploy one main process with multiple subprocesses. There are about 100 live cases with 10 end users, each case running over several months. There are no more unreliable spreadsheets, less manual “grunt work,” and better understanding of the business process all around.

Process-based applications ensure that strict compliance requirements are technology enforced, with reduced opportunities for human error. And to better serve their clients, Gottex’s process automatically updates trade figures in real-time.

According to Fred Blaise, “We are now more efficient, less error-prone, and have the necessary audit trail on each transaction to fulfill both our accounting and regulatory requirements.”

About Gottex Brokers Alternative

Gottex Brokers Alternative, a subsidiary of Gottex Brokers SA, has been a leading brokerage firm in secondary markets since 2009. It offers an intermediation service on the secondary market for hedge funds and private equity shares for its European and American institutional clients. It is based in Lausanne, Switzerland and New York.

About AiM

One of the top 10 Information Technology Services companies in French Speaking Switzerland (Suisse Romande), AiM provides assistance to its customers within 4 main areas: mobility management, applications development & integration and commercialization of its own solutions, infrastructure management and data valorization.

AiM capitalizes on its employees' expertise and its partners' strength to deliver value driven solutions tailored to its clients’ needs.

Download a hard copy of this customer success story here.