Over the years the PDI industry has shouldered the burden of paper-intensive, manual processes with multiple parties enriching trade data and signing off on the trade from various locations. Remote working and social distancing have made some of these workflows unsustainable.
Straight-through-processing (STP) solutions automate front, middle and back-office functions, delivering a faster subscription process by eliminating manual touch points and errors that can cause a trade that is not in good order (“NIGO”). STP solutions that help distribution partners solve both new and age-old inefficiencies are now flourishing with investments being made by program sponsors. What once may have taken several days can now be handled in hours. A robust STP infrastructure will allow distribution partners to waste less time, locating data faster and answering questions quicker and enabling a focus to business growth.