Northern Trust wins outsourcing award
Northern Trust has been named Best Outsourcing Services Company at The Compliance Register Platinum Awards 2011 held in London. The awards, now in their eighth year, provide recognition for “exemplary service to compliance and regulation” as well as raising funds for selected charities.
Candidates are nominated by independent third parties such as clients, members of the public and industry professionals. These nominees are then voted on by two independent panels made up of distinguished industry practitioners, with strict rules of impartiality.
“We are delighted to be named Best Outsourcing Services Company,” said Toby Glaysher, head of Global Fund Services (GFS) for Europe, Middle East and Africa at Northern Trust. “Northern Trust has a fully tailored, automated, component outsourcing service for trade matching and we continue to see a steady demand for our investment operations outsourcing services.”
The Compliance Register is an international organization for compliance professionals and senior executives within the financial services industry. The organization aims to ensure industry excellence through promoting quality standards, best practice and efficiency across financial services, and offers a large support network to its members.
“We are pleased to recognize Northern Trust as a market leading outsourcing provider,” said Ben Goh, chairman at Compliance Register. “Their award came following a strong client nomination which highlighted Northern Trust's excellent level of service as well as their ability to respond effectively to the latest industry developments.”
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“Fund managers are under pressure to be more efficient and streamline the back office, as well as adapt to new regulations and the tightening of governance,” said Clive Bellows, Country Head -- Ireland, at Northern Trust. “An increase in the use of alternative asset classes and more complex instruments also supports investment mangers' demand for a provider who can do everything to support their investment decisions, enabling them to focus their resources on core activity.”
Northern Trust is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Based in Chicago, the company has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region.
As of September 30, 2011, Northern Trust had assets under custody of $4.1 trillion, and assets under investment management of $644.2 billion.
Edited by Kevin Scarpati
Pandora and IBM digitise jewellery supply chain
Pandora has overhauled its global supply chain in partnership with IBM amid an ecommerce sales boom for its hand-finished jewellery.
The company found international success offering customisable charm bracelets and other personalised jewellery though its chain of bricks and mortar retail destinations. But in 2020, as the COVID-19 outbreak forced physical stores to close, Pandora strengthened its omnichannel operations and doubled online sales.
A focus on customer experience included deploying IBM’s Sterling Order Management, increasing supply chain resiliency and safeguarding against disruption across the global value chain.
Pandora leverages IBM Sterling Order Management as the backbone it its omnichannel fulfilment, with Salesforce Commerce Cloud powering its ecommerce. Greater automation across its channels has boosted the jeweller’s sustainability credentials, IBM said, streamlining processes for more efficient delivery. It has also given in-store staff and virtual customer service representatives superior end-to-end visibility to better meet consumer needs.
Jim Cruickshank, VP of Digital Development & Retail Technology, Pandora, said the digital transformation journey has brought “digital and store technology closer together and closer to the customer”, highlighting how important the customer journey remains, even during unprecedented disruption.
"Our mission is about creating a personal experience and we've instituted massive platform changes with IBM Sterling and Salesforce to enable new digital-first capabilities that are much more individualised, localised and connected across channels and markets,” he added.
Pandora’s pivot to digital
The pandemic forced the doors closed at most of Pandora’s 2,700 retail locations. To remain competitive, it pivoted to online retail. Virtual queuing for stores and virtual product trials via augmented reality (AR) technology went someway to emulating the in-store experience and retail theatre that is the brand’s hallmark. Meanwhile digital investments in supply chain efficiency was central to delivering on consumer demand.
“Consumer behaviour has significantly shifted and will continue to evolve with businesses needing to quickly adapt to new preferences and needs,” said Kareem Yusuf, General Manager, AI Applications and Blockchain, IBM. “To address this shift, leading retailers like Pandora rely on innovation to increase their business agility by enabling and scaling sustainable supply chain operations using AI and cloud.”
Yusuf said Pandora’s success was indicative of how to remain competitive by “finding new ways to create differentiated customer experiences that protect their enterprises from disruptions to help mitigate risk and accelerate growth”.