Case Study: Ullico achieves two‑thirds cost reduction and cuts month‑end from 31 to 9 days with FIS Investment Management & BPO

Minimize Cost, Maximize Efficiency Ullico Inc. Delivers on Effi ciency at a Third of the Cost by Outsourcing Investment Management to FIS

Ullico Inc., the labor-owned life insurance and investment company, faced high investment accounting costs and slow month-end reporting on an outdated system—its sub-$1 billion portfolio carried a $750,000 accounting budget and month-end processing averaged 31 days with a six-person team. To improve efficiency and cut costs, Ullico engaged FIS, selecting FIS Investment Management and FIS Business Process Outsourcing for its portfolio accounting and reporting needs.

FIS implemented a turnkey outsourcing solution—setting up Statutory, GAAP and Tax portfolios, developing basic and customized reports (including a simplified Schedule D), and embedding experienced accounting staff to work with Ullico’s team. As a result, FIS helped Ullico cut costs by more than two-thirds in year one, shorten month-end close from 31 to nine days, eliminate four full-time positions, reduce overtime, and reposition remaining staff as analysts providing strategic financial insights.

Ullico

Damon Gasque

Vice President and Corporate Controller