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Industry Solutions: Documentum Solutions for Investment ...

  1. 1. uniting the world through content ™ industry solutions Documentum Solutions Gaining the Information Advantage for Investment Banking Between battling each other for their fair share of the coveted under- writing market—and battling online competitors for retail share of wallet— and Brokerage traditional investment banking and brokerage firms are increasingly dependent on technology for a competitive edge. From ensuring that research is independent of underwriting bias to increasing efficiency with automated straight-through processing, these organizations must leverage technology to reduce costs, save time, and squeeze every ounce of value from their information assets. 1: Research 2: Underwriting 3: Marketing 4: Sales and Trading 5: Back Office and Compliance SOLUTIONS SOLUTIONS SOLUTIONS SOLUTIONS SOLUTIONS > Equities Research Authoring > Deal, IPO, and M&A > Prospectus and Product > New Account Setup > Disclosure Automation > Equities Research Publishing Management Fact Sheets > Order Management Support > Policy and Procedure Manual and Distribution > New Issue Creation > Disclosure Automation > Sales and Trading Intranets > Strategic Program Management > Pitch books > Knowledge Management > Intranet, Extranet, and and Extranets > Order Management Support > Disclosure Automation > Compliance Records Website Management > Trade Confirmation Processing > M&A Integration Management > Compliance Records Management > Portal Publishing and > Call Center Support > Trade Confirmation Processing Management Collaboration > Customer Contracts Management > Broker License Management > Bid and Proposal Management > AP/AR Processing Documentum has more experience integrating Documentum—Up to the Challenge opportunities to leverage Documentum solutions across the investment banking content throughout your organization are virtually The content value chain describes how value chain than any other enterprise content unlimited. Documentum can help you essential processes are related in an organ- management company. ization and how content moves and is used exploit the natural relationships between across those processes. And in every area content and processes that start in research Highlights and underwriting and extend all the way of the investment banking content value • Streamlines operations chain, Documentum helps manage regula- to back-office operations and compliance— • Automates disclosure across product groups tory compliance while reducing product which means your business becomes • Reduces the costs of compliance cycle time, minimizing risk, and stream- more agile, more responsive, and lining collaboration. more competitive. • Accelerates legal filing • Supports collaboration on a global scale In fact, for every content management On the following pages, we profile solu- • Enables targeted multi-channel marketing challenge an investment banking firm con- tions that illustrate the varied ways in which fronts, Documentum provides a solution. Documentum adds value to every area of And with our standards-based platform a financial services organization. and world-class partner integrations, the
  2. 2. INVESTMENT BANKING Research: Quality research is a must have for investment banks. Yet research is also a significant component of overhead. Enhancing the speed and efficiency of the research process is essential to matching a firm’s cost base with its revenue stream, especially in the face of more stringent government regulations regarding conflicts of interest between research and underwriting. 1: Research 2: Underwriting 3: Marketing 4: Sales and Trading 5: Back Office and Compliance Solution: Equities Research Authoring A Large Asian Securities Firm “Documentum has made our analyst reporting more efficient and independent. Workflow ensures that when something is published, we know it has met all of our approval standards as well as SEC regulations.” Vice President, Business Process Support This prominent Pacific Rim securities Challenge included by linking the template firm was founded in 1982 and is a wholly This firm’s investment analysts produced with a Microsoft Excel spreadsheet. research reports that were distributed to Documentum workflow controls owned subsidiary of a large multinational the company’s investment advisors and review, approval, and publication. corporation. The company has nearly 3,000 Reports are stored in an easily accessed published to the company website. employees, with offices in Korea, London, Analysts used different methods for central repository and are indexed New York, Tokyo, and Shanghai. compiling reports and created their own for fast retrieval. report forms. Consequently, it required Results a 10-person staff to standardize the reports prior to publication. In addition, Documentum has enabled a 70 percent with no central repository for reports, reduction in the number of full-time it was difficult to retrieve them when an employees required to manage and analyst left the company. New SEC rules standardize reports. The solution also also mandated that an audit trail exist automatically eliminates conflicts of for all research-related activities. For interest between research and underwrit- example, the company must be able to ing. For example, when an analyst demonstrate that an investment security attempts to write a report on securities report has not been written by someone recommended by underwriting, a popup on the underwriting team. The company window appears in the template with the wanted to increase the speed and com- message “issues excluded from opinion.” petency with which analysts created This message displays again when the reports, while automating SEC compli- report is completed. If it is ignored, the ance and audit processes. report will not be published. Approved reports are automatically pushed to a The Documentum solution automati- Solution Web server where they can be viewed cally eliminates conflicts between To start, the company deployed a by customers and the sales staff. research and underwriting while Documentum solution that included Recommended Product Suite producing a clear audit trail. integration with a third-party search • Documentum Content Server engine and portal framework. The • Documentum Web Publisher company then created 100 templates • Documentum Webtop to accommodate analysts’ needs for a variety of report formats. Now, an ana- • Documentum Site Caching Services lyst simply chooses a template and • Documentum Enterprise Content populates it with the appropriate content. Integration Services Formulas and calculations can be
  3. 3. INVESTMENT BANKING Underwriting: Debt and equity underwriting are significant sources of revenue for investment banks, and managing that information is a high-stakes requirement. The competition for underwriting clients is fierce so companies need the ability to quickly gather, process, and share enormous amounts of information. 1: Research 2: Underwriting 3: Marketing 4: Sales and Trading 5: Back Office and Compliance Solution: Real Estate Deal Management Boston Capital “With the Documentum and Captiva solution, our key resources spend less time looking for and processing paper. Administrative functions are stream- lined, creating greater throughput in the deal lifecycle. There’s no question that this platform will become an integral part of our business, and will be essential to our day-to-day operations.” Tom Gardner, CIO, Boston Capital Boston Capital Corporation is a diversified Challenge scanning an average of 10,000 pages real estate financing and investment The process of putting together real per day. The company also employed estate deals is highly transactional Documentum virtual document manage- company headquartered in Boston, Mass. and generates large volumes of content. ment technology to create and store The company owns more than 129,600 packages of related documents, such Documents can be hundreds of pages apartment units with a total development and range from leasing and financing as a real estate closing package. Now cost of over $9 billion, making it the fifth origination paperwork to market analysis virtual documents can be altered and reports and construction drawings. At reassembled on the fly and are updated largest owner/investor in multifamily Boston Capital, all processes for creating, automatically, ensuring that users have real estate in the U.S. approving, and accessing this information the most up-to-date document versions. were manual and paper-based, with Results documents stored on isolated hard drives or in binders. There was no electronic Boston Capital estimates a 15 percent system to facilitate information sharing productivity gain from its Documentum among regional employees. Printing, solution. For example, Documentum copying, and mailing costs were high. has reduced the amount of time it takes To address these inefficiencies, the com- employees to retrieve information from pany adopted a new strategic plan that as long as two days to less than one emphasized automating manual processes minute. The gains in productivity enable to become more competitive. The deal- a more efficient allocation of resources, making process was a natural test case. which in turn strengthens the firm’s ability to compete effectively. For exam- Solution ple, the solution shortens time to close Boston Capital deployed a Documentum for real estate deals, which improves solution for managing all the content customer relationships and enables essential for putting together a real estate executives to focus on high-value activi- deal, including financial models, financial ties such as sourcing new business. agreements, and various reports and Recommended Product Suite studies. Using Captiva InputAccel for scanning and imaging, the system cap- • Documentum Content Server Documentum helps Boston Capital close deals faster— tures and imports scanned images into • Documentum Desktop/Webtop a decided advantage in the tightly contested commercial the Documentum repository where • Documentum Content real estate market. they are categorized for fast and easy Intelligence Services retrieval. Currently, Boston Capital is • Captiva InputAccel
  4. 4. INVESTMENT BANKING Marketing: Disclosure requirements, which continue to grow more stringent, can cripple marketing efforts if not managed effectively. At the same time, competitive pressures compel firms to control marketing expenses while striving to deliver the right information to the right people on demand. 1: Research 2: Underwriting 3: Marketing 4: Sales and Trading 5: Back Office and Compliance Solution: Intranet, Portal, and Website Management State Super Financial Services “Documentum works within our existing framework and accommodates growth and future deployment, without compromising performance. It also meets our need to publish HTML and, in the future, store content in XML.” Geoff Purcell, General Manager IT, State Super Financial Services State Super Financial Services (SSFS) is Challenge Results one of Australia’s leading financial planning Rapid growth had made communications With Documentum, SSFS leverages its organizations with more than $4 billion in within SSFS increasingly difficult. There content repository beyond the company was no central repository for information intranet for Web and corporate portals, funds under management. It has 15 offices and no means to publish consistent inter-enterprise collaboration, and with 250 employees throughout New South messages across the organization or to e-business applications. For example, Wales, the Australian Capital Territory, external audiences. SSFS wanted to create financial planners can use the SSFS a knowledge management solution that website to download the latest invest- Brisbane, and Melbourne. would leverage the Web and the company ment returns or market performance intranet as the primary delivery vehicles data. Documentum also enables SSFS for business communications. content administrators to free key personnel from content-related activities. Solution Time to market is dramatically reduced Initially, SSFS deployed Documentum because critical information can be to power its intranet. Through a browser delivered on demand with no intervention interface, Documentum has now enabled by the company’s IT department. This the company’s non-technical employees knowledge management solution facili- to easily create, manage, and publish tates content reuse, which reduces content for multiple business units. Each needless duplication of information, unit has a content administrator who enhances productivity, and lowers cost. monitors, configures, and maintains busi- In the future, SSFS wants to expand ness information. Business unit staff Documentum to include the automation work closely with the administrator to of paper-based transactions in its ensure that accurate information is funds management business. published to the appropriate areas of the intranet. SSFS has also extended the Recommended Product Suite solution to leverage the Documentum • Documentum Content Server repository’s ability to manage any type • Documentum Web Publisher of content including traditional docu- • Documentum Webtop ments created with desktop applications, • Documentum Site Caching Services For SSFS, Documentum facilitates content reuse, enhances productivity, and lowers cost. HTML and XML, images, graphics, • Documentum Media Services multimedia, and other types of rich media. • Documentum Enterprise Content Integration
  5. 5. INVESTMENT BANKING 1: Research 2: Underwriting 3: Marketing 4: Sales and Trading 5: Back Office and Compliance Solution: Website Management Deutsche Börse Group “Documentum is a major component of our new Web platform. It enables us to maintain the static content of our websites in one central system, with consistent layout and design, while lowering the total cost of ownership for our Web platform.” Sebastian Martinez Cabrera, Project Manager, Deutsche Börse Group Deutsche Börse Group is a fully integrated Challenge 2003 with separate content areas or exchange-trading and technology organiza- As demand for Web access to product, sub-portals for discrete target groups. service, and investment information Today, pre-defined templates control the tion and the leading infrastructure provider increased, the Deutsche Börse website look and feel of the site, ensuring consis- for the securities industry. The portfolio tency and protecting brand integrity. grew to include information from ranges from trading, clearing, and settle- different systems, based on heterogeneous Content owners are able to publish infor- ment to capital market information and technologies, software products, and a mation and define navigation for their wide variety of hardware infrastructure. sub-portals without intervention by the processing technology. The company About 20 percent of the content was IT group. All static information can organizes and operates equities, derivatives, static, describing products and services. be edited through Documentum while fixed-income securities, and commodities The remaining 80 percent was dynamic dynamic information, such as real-time information describing the price move- stock quotes, is incorporated through markets in cash and derivatives trading ment of stocks, bonds, derivatives, and the portal framework. on exchange-based and OTC platforms. other investments. The company wanted Results to redesign its site to be more appealing to its target groups, such as companies, Currently three Deutsche Börse large institutions, and private investors, websites (, while providing improved navigation, and and consistent layout. At the same are supported by time, to reduce maintenance costs and the new Web platform. All content for improve performance, it needed to con- the sites is managed by approximately solidate on a single Web platform that 100 content authors using Documentum could easily support additional websites. tools. Standardization on a single plat- form has enabled the company to sub- Solution stantially lower operating costs and Deutsche Börse selected Documentum reduce hardware investments while from more than 200 Web content improving the Web experience for management solutions. The company its customers. deployed a new Web platform that Recommended Product Suite integrates Documentum with open • Documentum Content Server source components such as a portal Standardization on a single platform has lowered operating • Documentum Web Publisher costs and improved the Web experience for Deutsche framework, search engine, and Web • Documentum Site Börse customers. and application servers. The Deutsche Börse website was relaunched in July Caching Services
  6. 6. INVESTMENT BANKING Sales and Trading: Industry projections suggest that the growth of competition is exceeding the growth of new underwriting revenue. To succeed in this environment, investment banks may need to cut their sales and trading costs by as much as one-third. That kind of cost cutting will require automated business processes and streamlined information sharing. 1: Research 2: Underwriting 3: Marketing 4: Sales and Trading 5: Back Office and Compliance Solution: Trade Confirmation Processing Dresdner Kleinwort Wasserstein “Documentum has significantly increased our straight-through processing rate while reducing errors and improving customer service.” Ulla Pauli, Managing Director, Dresdner Kleinwort Wasserstein Dresdner Kleinwort Wasserstein (DrKW) is Challenge review and approval of manually the investment bank of Dresdner Bank AG, Customer trade confirmations and processed, non-STP confirmations. This advice notices for over-the-counter principle ensures that a confirmation a member of the Allianz Group since July (OTC) interest rate, credit, and equity cannot be approved without certification 2001. Headquartered in London and by two people. The system is integrated derivatives may contain as many as 15 Frankfurt and with an international network pages detailing terms. Manual creation directly with printing, fax, and archiving including offices in the financial centers of these documents is far too time con- capability, which enables increased STP suming and error prone to accommodate and reduced settlement costs. of New York and Tokyo, DrKW provides the high trading volumes and complex a wide range of investment bank products Results structure of OTC contracts. The bank and services to European and international needed to create a workflow-driven With the Documentum system, more process that would increase the straight- than 70 percent of Dresdner Kleinwort clients through its Capital Markets and through processing (STP) rate and reduce Wasserstein trade confirmations are Corporate Finance & Advisory created, delivered, and archived in a the time required for day-to-day work business lines. while minimizing errors. straight-through process without manual intervention. This means a significant Solution acceleration of trade confirmation Dresdner Kleinwort Wasserstein delivery to the firm’s customers, with implemented a Documentum-based improved quality. The four-eyes-principle solution for the automatic generation workflow satisfies auditing requirements of OTC derivative trade confirmations for non-STP trade confirmations and and advice notices. Microsoft Word can include users worldwide. templates with predefined clauses are Recommended Product Suite now configured as virtual documents • Documentum Content Server with assigned business rules. A custom • Documentum Desktop Java program analyzes the rules and • Documentum Business assembles the required trade confirma- tion or advisory on demand. The solution Process Manager • Documentum Business supports a variety of OTC trades in multiple languages. Documentum work- Process Services With Documentum, more than 70 percent of Dresdner • Documentum Formlets Kleinwort Wasserstein’s trade confirmations are created flow capability moreover was extended and delivered without manual intervention. to enforce the four-eyes-principle for
  7. 7. INVESTMENT BANKING Back Office and Compliance: Investment firms must constantly balance the risks of non-compliance, such as penalties and negative publicity, with the costs of remaining compliant. Legacy back-office systems prevent the automated record keeping that is the foundation of a comprehensive yet streamlined compliance process. And they’re expensive to maintain. 1: Research 2: Underwriting 3: Marketing 4: Sales and Trading 5: Back Office and Compliance Solution: Disclosure Automation A Global Investment Banking Firm “Documentum has enabled us to develop a hosted utility that streamlines and automates the disclosure process—reducing cycle time and cost, ensuring accuracy, and enabling compliance.” Information Technology Liaison, Legal Affairs and Compliance This firm is one of the world's leading financial Challenge progress. A rules engine ensures that each management and advisory companies, with Each year, open-end mutual funds are element of the filing is correct before required to file a registration statement. templates are applied in a dynamic offices in 35 countries and private client assets To protect investors, the SEC has grad- assembly process. of approximately $1.5 trillion. As an investment ually tightened regulations that apply bank, it is a leading global underwriter of debt Results to these documents. Without a flexible publishing process, more rigorous disclo- Leveraging the Documentum platform, and equity securities and a strategic advisor sure makes it difficult to meet product the automated legal filer solution makes to corporations, governments, institutions, launch demands. Also, historically the the company’s publishing process more and individuals worldwide. legal filing lifecycle has contained many controlled and efficient. It reduces overall manual processes that increase the likeli- cycle time while increasing the company’s hood of errors. Managing content across ability to meet aggressive product launch fund groups adds to this risk. As a result, timelines. It lowers fees by reducing the mutual fund companies are looking to amount of time service providers need to technology for solutions that reduce review filings. The solution’s streamlined cycle time, decrease costs, and mitigate editing process delivers additional savings the risks of legal filing. through the diminished cost of typesetting, author’s revisions, prepress, and file Solution conversion. The solution also decreases Using Documentum, the company errors, mitigates legal risk, and eases deployed an automated legal filer solution compliance by using rules-based language that manages the lifecycle of registration and providing an audit trail for language Disclosure automation powered by revisions. The company expects to extend statements from authoring to publication. Documentum mitigates legal risk and the platform to include additional dis- Today it enables disclosures to be easily eases compliance while enabling the closure filings such as proxies and reused across multiple filings. The foun- company to meet aggressive product shareholder reports. dation of the system is a Documentum launch deadlines. repository that stores filing content Recommended Product Suite such as standard risk disclosure and • Documentum Content Server fund-specific language, language rules, • Documentum Compliance Manager assembly criteria, templates, graphics • Documentum Business and logos, access control lists, and doc- ument metadata. As a filing progresses Process Manager • Documentum Business through a workflow it is subject to auto- matic scheduling procedures, and e-mail Process Services alerts notify appropriate personnel of its
  8. 8. INVESTMENT BANKING Documentum—The Solution of Choice About Documentum Software from EMC for Companies in Brokerage and Documentum software from EMC Investment Banking Corporation includes enterprise content The rules of the game have changed management solutions that enable It’s the brave new world of investment in brokerage services and investment organizations to unite teams, content, banking. Trading margins are shrink- banking. Now the rapid and innovative and associated business processes. With ing. Venture capital firms are keeping use of information to increase revenue a single platform, EMC Documentum a tight grip on their money. And and reduce cost are keys to competitive software enables people to collaboratively survival. That’s why successful invest- create, manage, deliver, and archive industry regulators are demanding ment banking and brokerage firms rely the content that drives business opera- much greater transparency. If ever on Documentum. Award-winning tions, from documents and discussions there was a time to invest in a more Documentum solutions unite content to e-mail, Web pages, records, and efficient content value chain, it’s now. rich media. across business areas to speed informa- For more information about how tion sharing, support collaboration, Documentum can empower an entire improve customer service, and boost organization to be more productive, efficiency. When information is the more aggressive, and more innovative, difference, the choice is Documentum. To learn how Documentum can deliver visit or call improved business performance to 800.607.9546 (outside the U.S.: your brokerage or investment banking +1.925.600.6754). enterprise, visit us online at or call 1.800.607.9546 (outside the U.S.: +1.925.600.6754). A Partial List of Customers in Brokerage and Investment Banking Aktiva Group Visa International Marsh & McLennan Royal Bank of Canada Deutsche Börse Capital Group Companies Mastercard International Investec BZW Services Countrywide Home Loans VanGuard Voestalpine Stahl Wellington Management D.E. Shaw & Co. Boston Capital Thomas Weisel Partners SWX Swiss Exchange Nomura International FleetBoston Financial T.Rowe Price Group Cazenove & Co Aegis Mortgage Corporation Samsung Schroder Investment Bayard Partners AMVESCAP Management Limited Luxembourg Stock Exchange ANZ Investment Bank GE Capital Commercial Equipment Caisse de Dépôt et Placement Toronto Stock Exchange Leasing du Québec Charles Schwab Corporation Dresdner Kleinwort Wasserstein State Super Financial Services Houlihan Lokey Howard & Zukin EMC Corporation phone 925.600.6800 6801 Koll Center Parkway fax 925.600.6850 Pleasanton, CA 94566-7047 © 2004 EMC Corporation. All rights reserved. Documentum and the Documentum logo are the trademarks or registered trademarks of EMC Corporation in the United States and throughout the world. All other company and product names are used for identification purposes only and may be trademarks of their respective owners. EMC cannot guarantee completion of any future products or product features mentioned in this document, and no reliance should be placed on their availability. Printed in the U.S.A. 25020804V1