T. Rowe Price: Streamlining Workflow
Self-directed Broker-dealer

The Opportunity

• Document management needed streamlining
  • Hardcopy documents manually printed, prepped, and shipped to external processing partners
• Workflow included needless manual steps
  • Reports and audit trails often required re-keying data
  • Check and Fed wire processing by paper and e-mail

Why Pershing?

• Best practices consulting
  • Document management streamlining
  • Reengineering of roles, responsibilities, and procedures
• Technology
  • Auto-fax Pershing-defined barcode cover sheets to link internal and external processes 
  • Web-based reporting and audit trails to automate manual processes and ease oversight
  • Training on new technology and reengineered policies and procedures

The Bottom Line

• Cut account transfer cycle by 4 days
• Eliminated overnight document shipments and manual handling
• Automated e-mail and paper requests for check and Fed wire processing
• Continued to grow assets an average of 13% over three years-with no additional operations staff

"The process now takes one to three days versus five to seven days." Jonathan Keeler, T. Rowe Price Investment Services, Inc.