Voting System (For Broker's Rating)

Introduction:

For one of our clients, we are using this voting system to give votes to its brokers. Brokers are those who on behalf of the firms, research on the stock market, and provide essential knowledge and feedback to them. Based on the broker’s analysis, the firm managers give ratings to broker’s analysts, termed as broker vote. These votes help a firm decide a brokers’ rank and how much to invest with the broker.

Scope of Problem:

Voting process is used in firms monthly, quarterly, half-yearly or yearly depending on the firm’s magnitude. The voting process helps firm managers to give a vote to their multiple brokers.

Voting is generally carried out with the help of spreadsheets, papers, and in-house built system of firms. This process is bit lengthy and consumes productive hours of firm managers to finish vote related tasks. The scope of the problem is to make voting process easier and time saving for managers to complete vote cycle. The voting process is broken down into following steps-

• Receiving broker related data from 40+ broker.
• Sending all this data to voting members.
• Head assign the maximum votes to the voting members.
• Checking the vote bank to confirm if the maximum vote limit for a member is exceeded or not.
• Voting process.
• Store the allotted votes and share the required reports to the voters and stakeholders.

Before SheetKraft:

Voting process is done by our clients manually using spreadsheets and client takes much time to complete one voting cycle. Manual process of conducting votes generally takes 2-3 days of managers. Manual steps can be carried out into following steps:

• Manual collection of all received data of broker and keep it at one place.
• Standardization of the collected data.
• Manager shares the vote limits and above data to voters.
• Voting process (broker wise & sector wise).
• Manual check by head manager whether the voters had exceeded vote limitation or not.
• Maintain the privacy and security of these voting reports and relative data.
• Prepare the multiple formats of the report as per the requirements of voter, brokers and stakeholders of the organization. Below is a sample flow chart of how the voting process is done at our client place.

Flow Chart:

After SheetKraft:

Using SheetKraft, the voting process becomes much easier and time efficient for voters. The process carried out by two following sections:

Admin Process:

• Admins/Head Managers upload single/multiple broker’s file into sheetkraft’s web portal.
• They assign maximum vote limits to voters in a master file.
• Theyalso upload master file into web portal.
• Sheetkraft stores all these data into database

Flow Chart:

Voter’s Process:

• All the participants/voters in voting system will get a common web portal to view and analyze any data and vote accordingly.

Voting process.

• A summary file will be generated as an output with all voting details and remaining vote count of a respective voter who is accessing it or assigning votes .
• Admins can get voting reports of them and summarized reports of all voters in the required formats.
• Admin then share these generated reports to the voters, brokers and stakeholders as per the demand and permissions.
• These vote details and reports will be stored in SheetKraft’s database and can be reviewed/download anytime from web portal.

Flow Chart:

Overall impact:

• Voting through SheetKraft banish manual human intervention, errors and time and can be done in approximately 5-10 minutes against half day of user as it removes all manual dependencies from excel files.
• Following Table illustrates the robustness achieved after automation

References:

• https://blog.visiblealpha.com/broker-vote-fundamentals
• https://hbswk.hbs.edu/item/the-use-of-broker-votes-to-reward-brokerage-firms-and-their-analysts-research-activities