PORTMAN is an integral part of the business

Skandia Denmark is part of the Skandia group, which is one of the biggest corporations within the field of long-term savings, personal insurance, and banking in Northern Europe. Skandia has provided people with financial security for 160 years, and has a strong tradition of innovation, product development and commitment to the local community.

With this in mind, there was great joy and expectation when we welcomed Skandia as a client – and especially as a collaborative partner – of Vitec Aloc by the implementation of PORTMAN in 2011. PORTMAN offers solutions within investment management, administration, reporting and risk control for organisations with a large number of clients and portfolios. PORTMAN covers the processes of front, middle and back offices, and allows straight-through-processing of daily processes from data importing and validation to sophisticated client reporting and the exporting of data for further processing in an organisation.

PORTMAN is an integrated part of the business

PORTMAN may not be the world’s biggest or most advanced portfolio management system – however, in terms of value for money, we could not wish for anything that supports our business more. We are highly satisfied with both Vitec Aloc and PORTMAN” says Mille Anker Agerlund, Analyst, Middle Office at Skandia.

Skandia offers innovative pension and healthcare solutions for employees in Danish organisations. Complicated high-quality financial products are developed with the purpose of giving Skandia’s pension clients more pension and more healthcare than they could receive elsewhere.

It is a business model that places heavy demands on internal systems and processes. The solutions must, therefore, support automation of the daily routines and increased efficiency so that time is spent on increasing the value for the clients instead of maintaining the systems. Furthermore, the solutions must ensure a constant overview of the positions of complex portfolios and their returns and risks.

At Skandia Asset Management, which administers Skandia’s pension portfolio, all transactions are carried out and managed in PORTMAN. PORTMAN is simply the basic system at Skandia Asset Management.

Everything is entered into PORTMAN”, says Mille Anker Agerlund. “This ensures the optimal handling of all transaction types, market data, and key figures when calculating positions, returns, and risks as well the daily reconciliation of all holdings”.

Prioritisation based on business knowledge

PORTMAN from Vitec Aloc is such an integrated part of Skandia’s business that the solution is not ‘owned’ by the IT department but by the business itself – that is, by the investment department. That has been the case ever since Skandia and Vitec Aloc first began collaborating in 2011. That is enough time to get to know each other’s weaknesses, strengths, and values – for example, knowing how to react when an error occurs, because errors are inevitable in every collaboration. Does the supplier try to blame the client, or vice versa?

Of course, we have come across things that we would like to have corrected, just as Vitec Aloc has also let us know if there is something we could improve. That has never been a problem and especially not during the past couple of years, where our relationship has become much tighter, both formally and informally. We currently have monthly telephone meetings, where we review and prioritise the tasks. There are things that need to be corrected now, as well as things that we would like to be corrected at some point in the future”, says Mille Anker, who continues: “We agree on the prioritisation together, and because of that, we really appreciate how well Vitec Aloc knows our business and the conditions we operate under. It is easy to tell that Vitec Aloc has deep roots in the financial sector”.

A scalable solution that supports the growth strategy

PORTMAN is a modular solution. This means that, as the business grows and faces new demands, you can buy the module that covers that specific need. This is something that Mille Anker Agerlund has learned to appreciate as Skandia’s success and growth on the pension market has increased. “Our business has grown massively, and we expect that to continue in the future. This gives us peace of mind, safe in the knowledge that the basic system on which our business is reliant can support our business in the future”, concludes Mille Anker Agerlund.

About Skandia
Skandia creates value for its clients with innovative solutions within healthcare and long-term savings. This makes it easier for clients to make the right financial decisions. Skandia has 2,500 employees and administers DKK 428 billion for 2.5 million clients in Denmark, Norway and Sweden.

Our customer says

“PORTMAN may not be the world’s biggest or most advanced portfolio management system – however, in terms of value for money, we could not wish for anything that supports our business more. We are highly satisfied with both Vitec Aloc and PORTMAN."

Mille Anker Agerlund, Analyst, Middle Office, Skandia

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