Powerful and Flexible Wealth Management Billing Solution Designed to Handle Complex Calculations & Bolster Flawless Billing Cycles
The d1g1t revenue management and billing solution is powered by a flexible calculation engine designed to handle complex fee schedules and payment terms. The solution is integrated into the d1g1t enterprise wealth management platform to optimize operational workflows across trading, document management, the client portal, and multiple custodians. Integrated fee approval, compliance and full audit capabilities are also available.
Whether firms have thousands or millions of billing groups, simple or complex fee schedules, the d1g1t high-performance computation infrastructure seamlessly scales in seconds to deliver industry leading performance.
Drive Efficiencies Through a Streamlined Billing Process
With bulk billing capabilities, firms can generate fees for thousands of families efficiently through the distributed billing infrastructure, enabling them to gain operational efficiencies.
The d1g1t billing solution includes the following capabilities:
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A Bill Spec, a unique billing concept developed by d1g1t that can be thought of as a billing program, fully defines how fees are computed. Accounts and families are mapped to a Bill Spec. thereby ensuring that all families are charged consistently. Furthermore, a change to the Bill Spec can be propagated to all the families that use it. |
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The ability to produce fee transactions in precise file formats used by each custodian, thereby eliminating the need for costly and time-consuming post-processing operations. |
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Inclusion of an integrated approval process that allows users to review and approve or reject generated fees. |
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The ability to produce invoices that can be seamlessly and securely shared with clients through a custom-branded client portal and mobile solutions. |
Flexible Calculation Engine
The d1g1t billing solution is powered by a flexible calculation engine designed to handle complex fee schedules and payment terms.
The calculation engine supports:
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Flat amounts, flat rates, and tiering schedules with minimum and maximum boundaries. |
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Flexible fee exclusions, which can be set as exclusion criteria or as position-specific exclusions |
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Various asset calculation methods (i.e. End of Period, Average of Month Ends, Daily Averages) |
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Householding. Fees can be measured for multiple accounts within a household, thereby allowing for greater use of tiering schedules. |
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Payments in arrears or in advance |
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Flexible fee-sharing rules (i.e. Payout Rules) |
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Payment redirection. Fees can be charged to a different account than where they were incurred |
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Multiple currencies |
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Sales taxes |
Modern Intuitive Interface
The billing solution leverages d1g1t’s modern UX design language. Custom billing workflows help streamline the process of generating fees, but also of analyzing, reviewing, approving, and processing fees. Several admin functions help you check that no account is missing, or that the client has the necessary funds to cover the fees.
Scalability and Speed at the Forefront
Deployed as a SaaS offering hosted on Amazon Web Services (AWS), the solution scales to process a very large number of accounts in record time. The speed of the billing engine allows you to complete large fee calculations in minutes, giving fee administrators more time to analyze results and re-run fees when needed. Results can be accessed from the UI, or through APIs, which provides greater integration and automation capabilities.
Easy Deployment and a Single Source of Truth
The solution is fully integrated into the d1g1t wealth management platform. It uses the same underlying data and objects (accounts, sleeves, clients, households, datasets) as other core functions such as reporting, trading, and compliance. With d1g1t, advisors can use a single platform to conduct all their mission-critical activities thereby eliminating the need for additional data reconciliation and facilitating the deployment across all users.
Collect Revenue Faster
Simplify the calculation, production, and tracking of fees to free up time to focus on clients.
