June 5, 2020

Solving the Quarterly PCAP Process with RPA


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For Asset Managers, the quarterly close process is often riddled with manual, time consuming, and inefficient processes. One such process is the generation of Partner Capital Statements (PCAP), a quarterly requirement under the Limited Partnership Agreements (LPA).

This process is often inundated with manual steps that can benefit from the use of RPA.

Common problems areas include:

        • Data is manually extracted from general ledger (GL) systems
        • Inefficient review and approval functions
        • Manual use of mail merge or print to PDF
        • Manual dissemination process to investors
        • Insufficient completeness checks
        • Tight issuance deadlines leading to errors and inaccuracies
        • Accountants re-performing the process fund by fund, which not only creates inefficiencies, but can also lead to version control issues

By looking to an RPA solution, the PCAP generation process can be virtually fully automated. RPA can facilitate end-to-end solutions from consuming GL data, creating PCAP statements, ensuring completeness, and handling seamless dissemination to investors. Whether using an administrator or performing in-house, RPA is fully customizable based on a firm’s needs.

Clients can enjoy the benefits of:

        • Automated PCAP creation (from any source data)
        • Data validation for quality assurance purposes
        • A scalable solution based upon dynamic reference tables to minimize necessary maintenance and allow for roll out across the organization
        • Automated dissemination to investors, whether through email or on an investor portal
        • Potential administrator savings by bringing the process back in-house, additionally reducing reliance on the third-party administrator and potential for delays

This video demo illustrates an end-to-end process where the bot consumes GL data provided by an administrator, creates the PCAP statements, and performs a completeness check back to the source data. The RPA solution removes the manual work normally performed by a staff accountant and frees them up to do more value-added tasks for closing the books.

 

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