ISEC Case Study

How Nordic Fund Service provider ISEC incorporated Strivr into their core operations to grow with quality.
“The Strivr tool allows us to rapidly onboard new employees thanks to the fact that the processes are visualized and described step by step. ” Bo Liljengren – Chairman of the Board and ex-CEO

ISEC – Servicing complex client needs

ISEC Group AB is the biggest independent fund administrator in the Nordic region and we met up with their CEO, Bo Liljengren, to talk a bit about how they use Strivr and what benefits they gain from our product. ISEC is currently administering more than 160 funds and 3 000 portfolio accounts with a combined AuA (Asset under Administration) of more than SEK 250 billion. Before Strivr ISEC managed all clients and processes in multiple checklists coupled with work descriptions and many status meetings.

Managing growth with quality

The company’s managed to combine a rapid 20–30% annual growth with high-quality deliveries by introducing Strivr as a vital tool to their business.

“The Strivr tool allows us to rapidly onboard new employees thanks to the fact that the processes are visualized and described step by step. If you follow the process and descriptions from start to finish you minimize the number of questions and errors.” Bo Liljengren – Chairman of the Board and ex-CEO

Rapid growth and international expansion

ISEC now has cross-border teams with members in both Sweden and Lithuania. Strivr has enabled a seamless distribution of tasks within the teams and gives instant oversight of processes, no matter where they are performed. “The team has a mutual workflow in place, and use the Strivr tool to co-operate and assist one another if tasks are lagging behind. It is easy for the team to make sure it gets the attention needed before we miss a deadline.”

Automatic sign-off for ISAE3402 audits

Because of the full audit trail within the tool, the sign-off in Strivr is used as key controls in many of the control objects in the ISAE3402 audit process. “The fact that we can replace physical sign-offs with electronic sign-off means that we save a lot of time during the audits and in our daily tasks.” ISEC has more than 400 main processes and 2 000 sub-processes mapped in Strivr. The activities range from daily recurring tasks such as reconciliations and NAV calculations to monthly and yearly regulatory reporting.

Conclusions

ISEC is a long-time client of Strivr and has gone through several generational shifts for their operations. At ISEC Strivr is truly the hub for all processes. By making sure processes and work descriptions are up to date in Strivr, onboarding new staff and clients are quickly and easily done.

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