Products

Quartal’s products effectively support the entire commission and fee management lifecycle – from calculations and payments to invoicing, controlling, allocations, modeling, forecasting and reporting all on one single software platform

Quartal FEE MANAGER is a multi-asset class fee and revenue management solution that increases transparency and accuracy in fee processing while reducing associated costs, risks and revenue leakage. It is a market-leading turnkey solution that automates the entire process from calculation to invoicing and all the way to reporting.

Quartal COMMISSION is a multi-asset class commission and distribution fee management solution that increases transparency and accuracy in commission processing while reducing associated costs and risks. A flexible and innovative solution, it automates the calculation, allocation and reconciliation of distribution commissions and sales costs.

Product Architecture - Components & Modules

Quartal’s products effectively support the entire commission and fee management lifecycle - from calculations and payments to invoicing, controlling, allocations, modeling, forecasting and reporting on one single software platform.

Report Distribution

The Reporting and Distribution Engine supports the creation of mass reports and the distribution of reports via various channels (email, ftp, web etc.). The engine supports the creation and assignment of individual reporting “packages” (e.g. cover letter, summary, detail report) to partners (e.g. clients, providers, distributors). The engine can be initiated for bulk generation as well as distribution as steps of the payment or billing workflow.

Reconciliation

The Reconciliation module consists of three components: Position Reconciliation - reconciles positions from different sources e.g. positions generated out of transactions loaded into the system against positions from third-parties, such as external custodians. Reconciliations are usually performed on account and product or on product only level but may be configured to run on other levels as well, e.g. on product and depository, or on product and custodian level. Reconciliation reports can be produced and in addition reconciliation results can also be visualized and shown on a user interface screen for further analysis. Fee Reconciliation - performs a reconciliation between fees and commissions calculated within the system against externally sourced fees and calculations (for example from third-parties). The module can be configured to automatically reconcile these amounts below a user defined tolerance level or escalate if beyond this threshold. The reconciliation can be run at various levels of granularity, from client/distributor down to individual fee/commission generating products. Payment Reconciliation - performs a reconciliation between system calculated payments and incoming payments (either automated or manually input) from third parties. Tolerance thresholds can be set for the automatic reconciliation below these amounts. Once reconciled, differences can be redistributed so that granular calculated amounts are adjusted proportionally for more accurate integration with external accounting or bookkeeping systems.

Management Reporting & Analysis

The reporting and analysis module supports dynamic data analysis and control using pivot table functions, multidimensional data aggregations and charts on the data available in the system. It enables business users to easily analyse, control and visualize KPIs (key performance indicators) and processes, e.g. holdings per product and/or distributor and/or sales person, status of payments. Profit analysis capability includes the monitoring and analysis of profits based on revenue and costs. The module provides the data needed for an efficient sales controlling process, i.e. the inflows, outflows, revenues, expenses and the profit in local and system currency per partner (client, provider and distributor) and product as of a date or period.

Omnibus Allocation

The Omnibus Allocation module allows incoming omnibus transactions or positions to be broken down to the underlying account positions for fee or commission calculations. Omnibus breakdown information may be sourced from external data files, manual entry or uploaded from excel. The system will support partial allocation of omnibus accounts and reconcile allocations back to the original omnibus information.

Revenue Allocation

The Revenue Allocation module is used when complex revenue from a single source is split across a number of business units or legal entities. The module will allocate revenue, based on a Revenue Allocation matrix, through a series of rules to the appropriate revenue centres (e.g. profit centres or investment desks). A further allocation matrix, for Transfer Pricing, supports complex transfer pricing rules for the purpose of setting, analysing and adjusting revenue and costs/charges. Based on a rules matrix the system supports the setup of transfer pricing rules that determine revenue and cost allocations and distributions between legal entities, business units and partners.

Performance Fees

This suite covers non-standard fee schedule management calculation processing. It contains five modules – Conditional Criteria Engine, Lot Management Engine, Master/Agent Engine, Performance Fee Manager and Equalization Manager.

FX Order Management

The Forex Order Manager supports the generation of FX orders for the purpose of currency pooling and effective exchange rate conversion as part of a payment / billing workflow where multi-currency payments/invoices have been generated. The system automatically generates FX orders which may be created as a system export or report. Upon receipt of an exchange rate quote for the respective FX order, users may manually input or automatically load and process exchange rates which will subsequently be applied as part of the payment / invoice generation process..

QlikView Management Dashboard

The Management Dashboard uses QlikView technology (note that a QlikView licence is required) to provide flexible visualization and filtering of data based on drag and drop web dashboards to support effective financial management reporting. The module provides indicators and KPIs (key performance indicators) based on user-defined tables, charts and reports. It also supports a comprehensive web reporting interface and supports the integration of data from the system’s Base Engine with additional, third-party systems and data sources, including Excel or a data warehouse, to provide a comprehensive reporting dashboard.

Simulation Manager

The Simulation Manager supports the capability to simulate fee calculations and invoices along with modelling and forecasting capabilities. It supports simulations based on a combination of real or simulated agreements / conditions to create views and reports which can be used for regression and trend analysis. Data such as transactions, positions and/or assets, other input parameters (e.g. exchange rates or prices) may be loaded into the system to reflect scenarios on which simulation calculations can be executed.

Payables Based on Receivables

Payables Based on Receivables is designed for the Fund Distribution scenario where calculations for distributions/payments are performed on the data held within the system but where the received amount from the Fund Managers is independently calculated. The module performs a pro-rata distribution to distributors and sub-distributors of received amounts where this differs from the expected receivable amount previously calculated and ensures that only the sum received is distributed by generating the appropriate payments.