eClerx: Improves Processes to Drive Business Forward

Starting from a humble beginning at a small office in the Fort district of Mumbai, eClerx grew to be a knowledge processing (KPO) company with more than 6000 employees at present. Today, the company is providing operational support, data management, and analytics solutions to over 50 Global Fortune 1000 clients.

eClerx has extensive experience working across functions covering trade lifecycle, reference data, finance and accounting, middle and back office, and risk management across asset classes. The company extends risk management support to financial institutions focusing more than ever on risk and control due to increased regulatory concerns. Additional challenges facing the industry are proliferation of exchanges and utilities requiring additional control reconciliations, and several high profile operational losses due to sub-optimal internal controls.

To help achieve new regulatory targets, eClerx helps customers to quickly ramp up ski l led resources and in addition defines reconciliation requirements, executes legacy risk reviews across different forms of documentation, and performs new suites of regulatory and internal control reporting across operational risk indicators. eClerx supports reconciliations of over 200,000 trades on a daily basis for 8 large investment banks using a suite of internally developed reconciliation tools. The company’s comprehensive reconciliation framework to manage operational and counterparty risk includes front to back, and document to system reconciliation along with broker, industry utility, settlement, and portfolio reconciliation.

Organizations in the capital market may suffer huge losses due to negligible mismatch between the Trade Confirmation/Agreement and the system.
To avoid such adversity, eCLerx has developed dual data capture and reconciliation engine that captures the data from contracts and compares economic parameters with the client system informing them about discrepancies to take further action. The customizable data capture module can capture and audit data from multiple contracts.

eClerx enables clients to proactively manage operational risk by building a robust operational risk reporting framework which ensures that all risk elements are being captured and reported in a timely and accurate way. Providing end-to-end customized solutions that help clients to perform better and achieve high industry rankings, eClerx has successfully created a large gamut of clients across different divisions including financial services, digital marketing services, and cable and telecom services.

Alan Paris, Principal, Financial Services eClerx, sheds light on the uniqueness of the company and explains, “ While most other firms focuses on IT outsourcing and offer BPO services as an afterthought, we place BPO and KPO at the core of our business and offer firms the ability to manage large, complex processes on a business as usual basis.”

With more than 2 decades of experience in the industry, Paris believes in delivering only the best and the most innovative solutions to the clients. “In eClerx each analyst and manager is able to bring something different to the table – a different way of looking at a client’s problem, or an out-of-the-box approach to standard problems.

“Moving ahead, eClerx envisions continuously addressing its current line of business and exploring the new lines which are additive and not just complementary to its current services. “We are cur rently working on a couple of different joint ventures and partnerships with third parties to help expand our business and are planning to soon come up with further efficient and cost-effective solutions,” says Paris.

Company
eClerx

Description
A knowledge process outsourcing company providing middle/back office operations support