Teams start a legacy BPM replacement when change gets too slow and every new process or rule turns into an engineering project on a legacy workflow, BPM, RPA or low-code platform. In fund administration and the wider world of regulated fund and client operations that pace problem compounds: the governance, approvals and audit trail the work actually needs get assembled by hand, so each change is slow and each audit is a scramble.
The replacement test is simple: can your own operations team build and change a process in days, with maker-checker (four-eyes) approvals, exception handling and a complete audit trail already built in, orchestrated across the systems you already run rather than rebuilt inside the tool? That is the gap between a horizontal platform adapted to finance and one built for it.
Next Matter is designed for that migration. It augments your existing ledgers, KYC providers and data rooms through native connectors and a typed API, your ops teams own the workflows, and built-in governance means governance and audit are on by default rather than configuration. Ocorian moved global fund administration and investor operations onto it with 300+ specialists.
For the longer argument, including the replacement test and a before/after change request, read our opinion piece Migration isn't the fix.
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