Empaxis is now officially part of Communify, the leader in Financial AI, Data and Digital Solutions. Learn more
Reconciliation outsourcing makes it easier for RIAs to focus on what they do best, and as back-office servicing specialists, Empaxis plays a key role in enabling firms to realize their goals.
Registered investment advisors face a wave of challenges, including rising costs and operational complexity, lower margins, increased competition and client demands, as well as growing pressure to modernize their workflows with the right technology.
According to a Cerulli Associates report, 73% of asset managers surveyed cited the increasing costs of operations as a reason to seek solutions that enable scale and efficiency, of which outsourcing is a means to that end.
For RIAs looking to outsource, back-office functions are the natural starting point, and reconciliation reporting is at the top of that list.
At Empaxis, we are back-office reconciliation experts with two decades of experience.
Our clients have come to depend on us, and that's something we take seriously.
For those in the United States, they may have seen the Farmers Insurance commercials, where they say, "We know a thing or two because we've seen a thing or two."
That statement perfectly sums up Empaxis and our experience:
Additionally, our executive and senior leadership teams have extensive experience in investment operations and have performed reconciliation firsthand, both at Empaxis and at previous organizations. Their intimate knowledge of the subject, combined with the team's collective brainpower, offers an unparalleled depth of expertise and insight into the reconciliation process.
Human capital is very important, but it’s not enough on its own.
Leveraging technology is the key to driving greater speed and efficiency in reconciliation processes, and it's our combination of skilled human talent and cutting-edge technology that truly sets us apart.
If it's manual and mundane, we will do whatever we can to automate it. We make use of advanced automation tools to streamline repetitive tasks and minimize the risk of human error. This promotes faster turnaround times and allows our team to focus their expertise on higher-value activities, such as investigating exceptions and ensuring overall data and reporting quality.
Machine learning and AI have moved from emerging concepts to essential tools in how we operate. We use AI to identify patterns and anomalies in data, surface potential issues before they become problems, and sharpen the accuracy of our reconciliation processes over time.
We've also taken a deliberate step forward by partnering with and joining Communify, a financial AI platform purpose-built for the wealth industry. Being part of Communify reflects where we believe the industry is headed and where we're already going. Critically, AI is only as good as the data behind it. Empaxis' deep expertise in data management means the information feeding these AI-driven processes is clean, accurate, and reliable. Good data in, trustworthy insights out.
Data silos and lack of integration are major pain points for most RIAs. They need reliable, centralized data pulled from various sources. Empaxis integrates custodians and other technology platforms with RIAs' existing portfolio accounting systems, eliminating the need for manual data entry and reducing the risk of errors in data transfer.
For firms modernizing their technology stack, Empaxis takes full ownership of the upgrades, migrations, implementations, and quality checks that come with it. Whether moving away from a legacy system or adopting a new platform entirely, our clients have a partner that has their back throughout the entire process.
We employ robust quality assurance tools to meticulously review and validate every reconciliation. This multi-layered approach ensures the highest level of accuracy and reliability in our deliverables.
One of our company's core pillars is: "There is always a better way."
With that in mind, Empaxis has never settled for complacency, and progress doesn't stop.
What once was a fully manual reconciliation process, entirely reliant on human effort, evolved into automation. From there, we moved into machine learning and increasingly sophisticated workflows that handle more, catch more, and run faster than what came before.
Our quality control checks followed the same path. Once fully manual, they are now largely automated, delivering more consistent and reliable results as a consequence.
AI is no longer a next step. It's part of how we work today. Through our partnership with Communify and our own ongoing investments in AI-driven processes, we are continuously refining how artificial intelligence is applied to reconciliation and back-office operations. The work of improving never stops, and AI is central to where that improvement is headed.
We believe in the power of clear and detailed documentation. Our reconciliation processes are carefully documented and regularly updated to reflect changes in workflows, best practices, and industry standards. This ensures that every team member, regardless of experience level, can perform their tasks with confidence and accuracy.
Documentation is not just about providing instructions. We use documentation to create a knowledge base that promotes learning and discipline across the team.
Our documentation includes:
The impact of solid documentation is broader than most people expect:
When Empaxis was established, our goal was simple: perform reconciliation the moment data becomes available from the custodian, so clients receive their daily reports as early as possible.
The challenge is timing. Depending on the time zone, that data can arrive anywhere between midnight and 6AM for US and Canadian clients. A graveyard shift is ripe for turnover, and turnover means lower continuity and service quality.
That's why we've built a strategically positioned global team. With offices in the US, UK, India, Saudi Arabia, and Hong Kong, our teams work in their regular business hours while it's still the middle of the night for our clients. When the data is ready, so are we.
Our international staff are highly educated, English-speaking professionals with backgrounds in business, finance, accounting, and technology. We also cross-train our staff to build a deep bench, so no matter what happens, there's always an Empaxis team member ready to step in.
If your firm is feeling the weight of back-office complexity, you don't have to carry it alone. Empaxis has been helping RIAs, wealth managers, asset managers, and institutions streamline their reconciliation operations for over two decades, and we're better equipped to do it today than ever before.
Reach out to Empaxis and learn how we can put our experience, technology, and global team to work for you.
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