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IOOF Case Study

IOOF has been helping Australians secure their financial independence for over 170 years, with 500,000 customers and A$137.8 billion in funds under management and administration. IOOF relied on a spreadsheet-driven process to perform their Custody Reconciliation each month. This took around two days each month to complete, which was a burden for staff. Another challenge was the slight variation in how each one of the 80 portfolios was reconciled. IOOF wanted to simplify and consolidate this task to minimise the risk of human error.