Omnia Unveiled: Revolutionizing Regulatory Reporting

Author:

Anthony Slowey
Product Manager, Confluence
Welcome to the next generation in regulatory reporting technology! We recently introduced Omnia, a next-generation application that helps asset managers and fund administrators streamline and enhance the efficiency of regulatory reporting, and hosted a webinar exploring current market challenges and how Omnia delivers real business value, demonstrated through a live demo. Here are the highlights.

Regulatory Reporting Market Challenges

As regulatory requirements become more stringent, improving filing accuracy, integrating diverse data sources, and keeping up with regulatory changes are growing challenges. Firms face three main regulatory reporting challenges:

1. Regulatory Complexity: Regulatory requirements are becoming increasingly granular and demanding. For instance, changes to Form PF require additional information on broker-dealer relationships and the inclusion of parallel and feeder funds. Frequent changes to regulations require automation and flexibility.

2. Consolidation: There is a growing demand for single-vendor solutions that can handle multiple aspects of regulatory reporting, from investment monitoring to document production. Proliferation of reporting causes vendor proliferation, and increases demand for efficiencies of scale.

3. Speed to Market: Firms are expanding into new jurisdictions, necessitating rapid adaptation to varying regulatory requirements. A robust solution like Omnia, with comprehensive regulatory expertise and flexible data management, is essential for staying compliant.

Omnia tackles these issues with a versatile solution tailored to meet the needs of asset managers and fund administrators of any size and accommodate various workflow preferences.

Meet Omnia: Revolutionizing Regulatory Reporting

Omnia is a high-performing automation tool that centralizes data integration, aggregation, and transformation. With Omnia, Confluence transformed its platform by preserving data preparation and integration as a core strength while engineering a significantly enhanced user experience with configurable views and integrated workflow capabilities.

Designed for asset managers and fund administrators of all sizes, Omnia automates data integration, filing preparation and review – configured to the end user’s workflow and task management preferences – for an optimal user experience that provides:

  • Reduced costs through economies of scale
  • Improved productivity
  • Increased flexibility
  • Reduced risk, increase accuracy
  • Enhanced performance and scale
  • Simplified compliance

Exploring the Core Principles of Omnia – Starting with Productivity

Omnia boosts user productivity by offering a scalable, automated reporting solution that improves accuracy and completeness through real-time validations and strong data integration. By enhancing team collaboration with adaptable workflows and customizable filing views, Omnia helps turn complex regulatory reporting into a streamlined and efficient process.

Omnia’s design revolves around three key pillars of productivity, accuracy and efficiency across all stages of regulatory reporting:

1. Streamlined Data and Filing Preparation: Users can connect directly to source data, streamlining aggregation and error analysis. Automate source data integration and regulatory calculations, managing and preparing data seamlessly from various sources for accurate calculations.

2. Customizable Filing Views: Omnia provides tailored perspectives and flexible filing views, allowing users to define their own views for enhanced workflow efficiency. User-defined views cater to both focused and bulk filing needs, customizing how you view and manage filings, for more precision and control.

3. Flexible Filing Review: Client-specific workflows provide comprehensive overview and tracking, tailoring the review process to the unique needs of each client while streamlining regulatory filings management. Users can define their own review actions and workflows, integrating custom reporting and validation rules to manage oversight and governance. Omnia enables both granular review actions, and bulk approvals as well as integration of custom reporting workflows, enhancing flexibility and client satisfaction.

Unlocking Efficiency: Key Takeaways from the Omnia Demo

The Omnia demo showcased how the platform revolutionizes the filing preparation and review process, delving into the transformative capabilities of Omnia and focusing on key aspects such as data flexibility, error analysis, bulk filing creation and customizable views, including:

  • The User-Driven Home Screen: Omnia’s home screen features recently accessed filings and quick navigation to different sections, allowing for efficient management of reporting entities and obligations.
  • Bulk Filing Creation: Users can create filings in bulk, with a review-before-commit feature to ensure accuracy.
  • Configurable Grids: Users can define grids based on their needs, focusing on required data points and error validation.
  • Customizable Views: Omnia supports the creation of user-specific views, enabling efficient review and approval processes.
  • Scalable Cloud-Based Delivery: Omnia’s cloud-based platform ensures rapid deployment of new or updated regulatory forms.
  • Global Regulatory Coverage: Omnia offers extensive coverage across multiple global jurisdictions with a strategically managed regulatory roadmap.

Transforming Regulatory Reporting Begins with a Demo

Omnia is poised to transform the regulatory reporting landscape with its flexible, configurable, and automation-focused design. By reducing costs, improving productivity, and enhancing accuracy, Omnia simplifies compliance for asset managers and fund administrators who may be struggling with regulatory complexity and scalability demands.

Discover how Omnia enhances efficiency, accuracy, and client satisfaction in the filing process. View the on-demand webinar to see Omnia in action. For a more focused session on how Omnia can align with your specific needs, contact us for a demo.

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About Confluence

Confluence is a leading global technology solutions provider committed to helping the investment management industry solve complex data challenges across the front, middle and back office. From data-driven portfolio analytics to compliance and regulatory solutions, including investment insights and research, Confluence invests in the latest technology to meet the evolving needs of asset managers, asset owners, asset services and asset allocators to provide best-of-breed solutions that deliver maximum scalability, speed and flexibility, while reducing risk and increasing efficiency. Headquartered in Pittsburgh, PA, with 900+ employees in 15 offices spanning across the United Kingdom, Europe, North America, South Africa, and Australia, Confluence services over 1000 clients in more than 40 countries. For more information, visit  www.confluence.com

Confluence Media Contact:

Vanja Lakic
Cognito
[email protected]
+1 (917) 660-8527