Transforming Tableau Financial Reporting for Global Wealth Manager

In Brief

When a global mid-market wealth management firm found it difficult to deliver monthly Statement of Accounts (SOAs) in a secure and timely manner and had customers asking for faster and easier access to financial reports, the firm responded by deploying Pixel Perfect for Tableau.

The dedicated Tableau reporting solution not only helped the firm securely deliver monthly SOAs but also develop a solution that enabled seamless customized report delivery based on customer profile and subscription status leading to fewer reporting headaches and improved customer experience.

Customer

The client is a leading global wealth management firm with a large customer base and billions of dollars under management. They provide a range of services, including wealth planning, investment management, and estate planning to high-net-worth customers. The firm prides itself on leveraging advanced technology to enhance customer communication, offering personalized insights and reports to keep clients informed and engaged.

Business Challenges

Inefficient Manual Processes: Initially, the wealth management firm relied on a time-consuming manual process to deliver monthly SOAs to its clients. This involved manually extracting data, formatting reports, and sending them via email, which not only consumed valuable time but also, posed significant risks in terms of data security and regulatory compliance.

Complex Reporting Needs: In addition to SOA delivery, the firm needed to provide customers contextualized, on-demand access to financial statements through their Asset Management Portal. The existing system struggled to manage selective access based on subscription status and required seamless integration of complex data across various financial products.

Pixel Perfect Solution

Streamlined Report Distribution via Automation for SOA Delivery

To address the first challenge, the firm implemented Pixel Perfect for Tableau, which automated the process of generating and securely distributing SOAs.

This solution enabled the firm to:

Create Contextualized Reports: Pixel Perfect’s formatting features allowed for the generation of branded, professional SOAs that complied with regulatory requirements.

Automate Email Delivery: The solution facilitated scheduled bursting of reports, automatically pulling data from Tableau dashboards and generating individual, password-protected PDFs for each client.

Enhance Data Security: With dynamic password protection, sensitive information was Pretty Good Privacy (PGP) encrypted, ensuring secure delivery of financial documents.

Enhanced User Experience for Financial Statement

For the second challenge, Pixel Perfect transformed the firm’s end-user reporting capabilities through:

Intelligent Subscription Verification: The system automatically managed access to financial statements based on users’ subscription status, improving the user experience on the Client Dashboard.

Multi-Workbook Integration: This feature enabled seamless navigation between various financial products, allowing users to easily access and download relevant reports.

Sophisticated Visibility Control: The implementation of contextual reporting ensured that users only saw report options pertinent to their subscription level, enhancing operational efficiency.

Key Outcomes

Pixel Perfect for Tableau resulted in significant benefits for the wealth management firm including:

Operational Excellence

The Automation Efficiency:
Improved reporting efficiency by 40%, meeting SLAs effectively.

Streamlined Processes:
Eliminated manual report generation, saving time and effort.

Enhanced Security & Compliance

The Data Security:
Used PGP encryption for secure document delivery.

Regulatory Adherence:
Ensured compliance through compliant report formats.

Superior Customer Experience

Personalized Access:
Tailored report access based on client subscription status.

Self-Service Empowerment:
Enabled on-demand access to financial information.

Lessons Learnt

This case study demonstrates the critical role of advanced reporting solutions in modern wealth management. The successful implementation of Pixel Perfect highlighted how sophisticated technology can bridge the gap between complex data and user-friendly delivery. By maintaining data integrity while delivering customized reports, the firm not only met regulatory compliance mandates but also transformed traditional financial statement delivery into a dynamic, user-driven experience.

Conclusion

The success of Pixel Perfect’s deployment within this wealth management firm has broader implications for the financial services industry and beyond. Financial Services firms across banking, asset management, and insurance, where regulatory compliance, secure data handling, and personalized client interactions are paramount, can leverage Pixel Perfect to transform their reporting. By integrating advanced tools like Pixel Perfect, organizations requiring seamless generation and delivery of high-volume, secure, and customized reports across industry segments can not only improve operational efficiency but also create exceptional customer experiences.

Transforming Tableau Financial Reporting for Global Wealth Manager

In Brief

Customer

Business Challenges

Pixel Perfect Solution

Streamlined Report Distribution via Automation for SOA Delivery

Enhanced User Experience for Financial Statement