d1g1t's new billing tool aims to streamline fee calculations and support wealth management operations
d1g1t has launched its new revenue management and billing solution, fully integrated into its enterprise wealth management platform.
This billing solution, designed to meet the needs of various wealth management firms, is powered by a multi-currency and scalable fee calculation engine that supports complex billing scenarios. The solution aims to help firms collect revenue faster by reducing the time needed to calculate and analyze fees.
d1g1t Billing supports different payment structures, including payments in arrears or in advance, tiered or fixed fee schedules, and flexible fee exclusions. It also accommodates various asset calculation methods, sales taxes, and payment redirection.
Using the same data as the client reporting and portfolio management modules, the solution eliminates the need for additional numerical reconciliations.
Benoit Fleury, chief product officer and co-founder of d1g1t, explained that the company has introduced a billing solution designed to provide personalization at scale and enhance operational efficiencies for customers.
The billing function is embedded directly into the platform’s workflows, streamlining the wealth management process. Fleury noted that the solution aims to help firms spend more time on strategic, high-value activities by improving billing cycles and modernizing the revenue management process.
Key features of d1g1t's billing solution include:
- Flexible billing engine: The solution covers all asset classes, calculates fees in multiple currencies, and allows for flexible exclusions, discounts, and householding.
- Scalability and speed: As a SaaS product, it processes large numbers of accounts quickly.
- Easy integration: It is fully integrated with d1g1t’s existing wealth management platform, sharing data and analytics with reporting, trading, and compliance functions.
- Bulk billing: Firms can easily generate fees for thousands of clients using high-performance infrastructure.
- Complete billing workflows: The solution streamlines the process of generating, reviewing, approving, and processing fees and sending invoices.
- Custodian-specific transactions: Fees are exported in custodian-specific formats, removing the need for additional post-processing.
- Invoice distribution: Invoices can be securely shared with clients via the client portal and mobile apps.
