Simple data aggregation and validation system using PHP/MYSQL accepting data from XML documents.
Data in existing excel worksheets is converted to XML via a VBA conversion script embedded in a macro enabled excel workbook.
This was a semester long project in Dr. John Hill's IST420 course at Penn State University.
Project Description:
Case Study Background
Access Data Corp., a Broadridge Company, is a leader in enterprise data management, analysis and reporting for the financial services industry. Today, more than 50 leading asset management firms utilize their proprietary technology and services to solve a growing problem in the financial services industry, the lack of data transparency.
Access Data aggregates and enhances sales and asset data from all record keeping sources, across all distribution platforms. They then transform the sales data into a valuable business asset that can be leveraged by the distribution, compliance and finance business areas to improve the management of critical business processes and drive strategies for growth.
Platform for Enterprise Business Reporting
Access Data SalesVision® is a web-based, on-demand enterprise shareholder solution that helps financial services companies: • Maximize distribution results • Manage shareholder compliance • Track wholesaler and distributor compensations
SalesVision is built on a solid foundation of Data Management services that deliver consistent, reliable information from one data source. All of their business solutions leverage the same data to provide actionable information and market intelligence to managers - across the firm - on products, distribution channels, sales intermediaries and financial advisers so one can compete more effectively.
Software as a Service Delivery Model
SalesVision's software solutions are delivered as a service so there is no software or hardware to install and enhancements and updates are seamless. Clients can implement proven solutions for complex business problems quickly and cost-effectively with minimal resources and financial risk.
Financial Services Expertise
Access Data’s business, product and technical experts bring hands-on financial services expertise to the table. We combine best practices – derived from working for leading financial firms – with creative thinking and innovative technology to deliver solutions that work.
Mutual Fund Basics
A mutual fund is a portfolio of stocks and/or bonds a managed by an investment company subject to the rules of the Investment Company Act of 1940. They allow people to invest their money in a diversified manner without having the large sum of money needed to buy several hundred different stocks and bonds individually. They are marketed to investment brokers by sales reps called wholesalers. Wholesalers are responsible for a specific territory in the U.S. and they are paid about 0.01% on every transaction in their territory done in the mutual fund that they represent. Mutual funds are an investment product sold the public by investment brokers. The broker can invest client money with the mutual fund in two ways. The first way is to invest the money directly with the mutual fund company. By doing the business this way the mutual fund company knows what brokers have sold their product and how much they have sold. The second way is to have the client’s money in a brokerage account and buy the mutual fund inside the brokerage account. Doing the business this way the mutual fund company only knows that a particular brokerage firm has sold their product. All of the transactions done in the mutual fund company’s product are aggregated across the entire firm. The mutual fund company does not know any of the following information: selling broker, selling office, transaction amount, and client name. This aggregation is where the mutual fund company runs into problems because it is aggregated nationally, so the mutual fund company is unaware of what wholesaler’s territory should be credited with the business, making it difficult to pay their wholesalers properly.
The Problem
This problem for mutual fund companies is where Access Data Corporation has built a niche business by collecting transaction data from all over the country they are able to disaggregate and process the information to tell the mutual fund companies who sold their product as well as where and how much. In order for the mutual fund company to access this information, they purchase software as a service from Access Data Corporation, which runs as a secure web portal through a standard web browser. Typically, this has to be set up and customized for each mutual fund company. The standard contract with the mutual fund companies allows for 40 hours of time for customization, over that the mutual fund company is billed an hourly rate.
A concern of Access Data Corporation is keeping track of the amount of time they spend customizing for each mutual fund company. They are concerned that they may be losing revenue by not billing accurately for their time in excess of the contracted 40 hours. Moreover, Access Data Corporation would like to allocate resources more efficiently by identifying the top 20% of their clients that typically generate 80% of their revenue. They may be missing a Good-will opportunity with these clients because they cannot pinpoint the total amount of time, over the contracted 40 hours, for customization. They would also like to identify the bottom 20% that generate little revenue or cost them revenue so those clients can be better developed to generate more revenue. They have three departments that work with the client: sales & contracting, client service management, and project & data management. Each group uses different computer systems, tracks time differently, and has different data reporting priorities. They need a way to integrate and consolidate how these departments keep track of the time they spend on each client and have that time totaled and tracked for billing.
Helpful Notes These notes are relevant to many phases of the case: • Clients have projects. • Clients may have multiple projects. • Projects 'belong' to one, and only one, client. • Clients have contact information (address, fax number, etc.). • Each project has one, and only one, primary contact person. • Contact persons have contact information, and a preferred means of contact.