For years, Institutional Cash Distributors (ICD) managed reporting using analysts and spreadsheets. The process, while vetted, was slow and laborious, and took many heads to ensure accuracy. Working side-by-side with Stratus, ICD’s team was able to generate instantaneous, accurate reporting to bring into client, sales, and internal meetings. The reports cut decision-making from days to minutes.
Institutional Cash Distributors (ICD) is an independent portal provider of money market funds and other short-term investments. Over 400 treasury departments, across 43 countries and 65 industries, use the ICD Portal to trade, monitor, and analyze their cash investments.
With hundreds of clients moving billions of dollars, ICD looks to automate spreadsheet-based internal reporting and establish single source of truth.
ICD provides treasury organizations an online portal for trade execution, compliance, risk management, and on-demand reporting. Since their inception in 2003, they’ve amassed several hundred clients accessing over 300 funds and 30 providers across the globe. Reporting is a crucial aspect of keeping track of revenue generated, as well as money owed to partners and technology providers.
Traditionally, ICD’s analysts manually pulled and evaluated spreadsheets from the investment portal. Data came from different companies in inconsistent formats. Analyses were published as SQL reports by different people with differing logic. Simply put, the numbers were hard to tie—ICD had outgrown its reporting methodology.
ICD struggled with this challenge for months, hiring two different teams before they came across Stratus Data. They were instantly impressed by the thoughtful approach and detailed, iterative process Stratus demonstrated in the proposal of the initial solution alone. The solution itself was bulletproof and backed by Stratus’s in-depth expertise in analytical-platform development.
“Stratus asked a lot of questions and tried to truly understand what we were looking for,” says Dave Roach, CFO at ICD. “They had a good vision for what the project needed to look like and their plan of attack for delivering results. The proposal was impressive. The team’s track record and credentials were impressive.”