SimCorp has authored a paper outlining the critical role of data management in yielding competitive advantages for the buyside.
The sharpening focus on risk management and transparency is driving the need for consistent and reliable data, as well as new regulatory and client demands for increased reporting. The paper examines how these needs can be met cost effectively, and how, when implemented properly, data management can improve profitability and productivity.
The research finds that when weighing the relative merits of different solutions, buyside firms need a common strategy in approach from front to back-office. This can be hampered by the use of overlapping, legacy systems, which are unable to accommodate new asset classes and create confusion over where master data lies. They also create infrastructure that is costly and complex to maintain.
It goes on to consider the evolution of the industry response to this issue, finding that even standalone data management platforms can have failings in causing data fragmentation. In addition, overlaying new platforms over legacy systems is a “flawed compromise” that fails to address core challenges of providing reliability and quality data.
The paper concludes by outlining the ideal solution – an integrated, modular platform fed from a single source. This solves the problem of siloed data and complex maintenance arrangements, and allows business users to extract timely, accurate data when they need it.
“High quality, accurate and up-to-the-minute data has become the lifeblood of investment management organizations, equipping them to make well-informed decisions and manage risk,” said Jon Irgens, Assistant Vice President, Product Management at SimCorp. “Yet many firms lack an effective means of managing data and waste expenditure on maintaining complex and inefficient systems. Companies which take control of this by implementing an integrated modular platform will put themselves at a competitive advantage relative to their peers.”
Read the full paper here www.simcorp.com/datamanagementsolutionpaper.
Enquiries regarding this announcement should be addressed to:
Anders Crillesen, SimCorp Corporate Communications (+ 45 3544 6474)
Sophia Morrell, Greentarget, (+ 44 207 324 5487, [email protected])
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds, and wealth managers. SimCorp’s world-class software provides global financial organizations with the tools they need to mitigate risk, reduce cost, and enable growth. SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. Listed on the NASDAQ OMX Copenhagen, SimCorp is dedicated to supporting the global investment management industry, its clients, and its investors. For more information about SimCorp’s products, please visit www.simcorp.com/solutions.
New Paper Illuminates Value of Data Management as a Competitive Tool
SimCorp releases paper which analyses the role of effective data management in yielding competitive advantage for buyside firms