Vinny Lisanti Chief Operating Officer of ADP/OMR
Vinny Lisanti Chief Operating Officer of ADP/OMR

STP:dealing with the myths.

The importance of the benefits that STP can bring to your business cannot be overlooked argues Vinny Lisanti.

Is there anyone working in the financial markets who hasn’t yet heard of STP?The industry mantra of straight-through processing has been touted for years now as the cure for everything, from a 90 per cent fail rate to the common cold. In truth, STP is a simple concept with a simple benefit: the fully automatic, hands-off, error-free processing of transactions.Despite the exaggerated claims of its cure-all reputation, the implementation of true STP does come with substantial and significant benefits. For example, the necessary rekeying of data due to the operation of disparate systems costs both time and money, and is prone to human error. A fully automated transaction cycle reduces both the risks incurred by human intervention and the need for high staffing levels that rekeying of data requires. A further major advantage of STP is that of flexibility. Firms must be able to respond rapidly and efficiently to change, in order to offer the highest quality service to clients, to keep costs and...continued

Exclusive Content

The full article is only available to current subscribers. Click here to sign in or subscribe by clicking here