UTI Mutual Fund

UTI Mutual Fund, a publicly traded entity, stands as one of Asia's premier Mutual Fund companies, ranking as the seventh-largest asset Management Company based on mutual fund QAAUM (Quarterly Average Assets Under Management). With a vast portfolio comprising more than 11 million live folios, UTI Mutual Fund commands a significant presence in the financial sector.

Yet, even a prominent player like UTI Mutual Fund faced its share of operational challenges. Operating across 160 locations throughout Asia, the organization encountered complexities in its approval processes, dispersed across different states. Operations heavily reliant on paper-based documentation led to delays and a notable decrease in efficiency.

The escalating volume of physical paper documents not only incurred additional costs but also devoured valuable physical storage spaces within offices across the country. In response to these challenges, UTI Mutual Fund set its sights on a comprehensive digital transformation. The primary goal was to transition to a paperless office environment, enabling employees to access documents digitally and remotely.

UTI Mutual Fund selected Datamatics as its partner to spearhead this digital transformation journey. In collaboration with DIEM Collective, the endeavor involved the implementation of a digital workplace solution, harnessing OpenText technology to digitize document management and streamline key processes, particularly the Decision & Approval Process and Payment Process.

The impact was profound. The digital workplace solution introduced heightened transparency across all UTI Mutual Fund locations, catalyzing agility in the decision-making process. Additionally, the solution digitized over 20,000 transactions by integrating payments with the ERP system across various geographical locations.

DIEM Collective's partnership with UTI Mutual Fund underscores the transformative potential of digital solutions in overcoming complex operational challenges. The result was enhanced efficiency, cost savings, and a seamless transition toward a paperless office environment, positioning UTI Mutual Fund for continued growth and success.