Client SuccessState of Florida
State of Florida | Bringing Internal and External Books into a Single View
As the State of Florida expanded its investment portfolio, it faced growing challenges in investment accounting and reporting. Juggling internal and external portfolios across multiple systems, the use of spreadsheets for these processes quickly became unsustainable. The need arose for a more sophisticated solution that could provide insights into each of the state’s internally and externally managed portfolios — all from a single platform. Clearwater was the only option that could streamline investment processes while also integrating with the other tools the State of Florida needed to develop a sustainable portfolio focused on long-term growth.
Market / Public Sector
The Florida Department of State strives to improve the quality of life for all Floridians.
Headquarters: Tallahassee, Florida
Assets Under Management: $61B
Website: https://www.myflorida.com/
$61
billion in AUM
4
automated compliance policies
100%
accounts with data feed connections
Challenges
- Manual trade entry
- Manual reporting processes
- Bringing external and internal books into a single view
- Managing compliance to four different investment policies
Results
- Automated reporting and manual processes
- Quick implementation process
- Ability to close books on day 10 and discuss speeding up that number
- Can keep their external and internal book in one location for a single pane of glass view