Client Profile: A prominent North American wealth management firm with $90 billion in AUM.
The Challenge: Aging Technology Eroded Trust and Blocked Growth
The firm’s forward momentum was constrained by aging technology. Its inflexible legacy infrastructure could not support strategic objectives and created critical pain points:
- Eroding Client Trust: Costly billing errors and pricing inconsistencies were frequently found by clients and advisors, creating a reactive and expensive rework cycle.
- Slow Time-to-Market: The inflexible system made launching new products a slow and costly IT project, causing a competitive disadvantage.
- Operational Inefficiency: Manual processes and disconnected legacy systems created significant bottlenecks, errors, and high operational costs.
- Inability to Scale: The firm could not grow without adding significant headcount to manage manual workflows.
The Solution: A Strategic Migration to PureFees
The firm partnered with PureFacts to strategically replace its core legacy billing application with PureFees. This solution delivered a modern, flexible foundation for growth:
- True Straight-Through Processing (STP): PureFees was fully integrated with the firm’s CRM and a new digital onboarding tool, eliminating manual data entry.
- A Single Source of Truth: The platform became the centralized, fully integrated ecosystem for all revenue data across the enterprise.
- Enforced Standardization: Standardized fee schedules are now automatically enforced by the system, eliminating inconsistencies.
- Simplified Operations: Eliminating the legacy application simplified both operations and IT overhead.
The Results: Rapid ROI and a New Strategic Asset
The implementation of PureFees transformed the firm’s revenue management from a manual cost center into a strategic, automated asset.
- $12M+ in new annual revenue captured by eliminating systemic revenue leakage.
- $1.1M+ in annual costs automated away.
- < 1 Year Payback Period: The project paid for itself in under 12 months based on direct cost savings alone.
- Rebuilt Trust: Costly billing errors were eliminated, protecting the firm’s reputation with clients and advisors.
