What Does it Take to Achieve Workflow Nirvana?

You’re probably familiar with the concept of spiritual nirvana, a transcendent state of being associated with Buddhism. What if we applied this concept to the workplace — more specifically, to workflows used by traders at buy- and sell-side financial firms? What would “workflow nirvana” look like, and what would it take to achieve it?

At Symphony, we envision workflow nirvana as a state where all menial tasks associated with trading are fully automated to free traders’ mindshare and energy to focus on high-value activities like ideation, research, and client interactions. In other words, with the support of tools like specialized bots, traders can leverage technology to fully optimize their workflows.

For instance, traders can set alerts for specific coverage areas or stocks, and receive these updates in real time to ensure that they can action any market-moving intelligence as soon as the news breaks.

For firms that aren’t already leveraging bots and automation to streamline pre-and post-trade tasks, the journey to workflow nirvana can seem daunting. This is particularly true for buy-side firms with limited resources, who are already challenged by the various platforms and processes imposed upon them by the sell side. But achieving workplace nirvana doesn’t happen overnight. In fact, the best way to get there is to start small.

For many firms, introducing automation internally is the most logical first step. The first bot you build can do something as simple as set reminders to finish tasks and return emails, or even order lunch. Once traders are accustomed to using automation internally, firms can integrate automation around other pre- and post-trade activities. Ultimately, a platform like Symphony can serve as a hub that automates tasks, enables collaboration, and streamlines communication on both the buy- and sell-sides of a trade, helping traders achieve fully optimized workflows across organizational lines.

Much like the journey to spiritual nirvana, achieving workflow nirvana takes time and intention. If efficient bots and fully optimized workflows sound like a distant dream, remember: every meaningful journey begins with the first small step.

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