Process for capturing IPO financing requirement [HNI], interest rate negotiations and financing activity were managed through emails and spreadsheets, leading to incoherent information
– Entities seeking HNI financing
– Financing team on client-side
– Operations team on client-side
– Accounts team on client-side
The solution was expected to automate the IPO Financing [HNI] workflow and provide coherent view of the system at any given point in time. The solution was also expected to remove all manual hand-overs from one team / stakeholder to another.
ASCENT helped the client with a web-based system with end-client interface and respective dashboards for internal teams: financing, operations and accounts.
– Client punches in the requirement for a particular IPO and gets a tentative interest rate on his web-dashboard as well as through email
– Once negotiations are completed, financing team and accounts team collaborate to ensure the necessary financing activities are completed
– On shares allotment, accounts team collaborates with operations team to deliver allotted shares and refund excess margin money to client
– Process completes on successful sign-off by all parties involved in the transaction.