Case Study: 3M achieves automated, accurate investment accounting and faster reconciliations with Clearwater Analytics

Staying Ahead of the Curve with Clearwater

3M, a global science-based manufacturer, was managing two U.S. dollar investment portfolios totaling about $4 billion and expanded into direct securities (corporate bonds, muni bonds, ABS, etc.). As the portfolio grew the treasury team relied on manual processes, a treasury workstation and Bloomberg to piece together inconsistent data, resulting in slow reconciliations, error-prone accounting, missed reporting deadlines and a heavy burden to satisfy auditors and internal stakeholders.

3M selected Clearwater’s integrated platform with a single data engine to automate daily aggregation, reconciliation and validation of custodian data and to deliver risk analytics, performance and compliance reporting. The implementation eliminated many manual steps, dramatically reduced reconciliation effort, improved timeliness and accuracy of accounting and regulatory reports, provided auditors and internal users direct access to reports, and made it easy to scale and onboard new securities.

3M

Andy Noll

Senior Financial Professional, 3M