Waters had a good article last week on the power of client reporting technology and the options available to market (link here, sub req'd). Given our recent coverage on the topic, I thought I would take the time to emphasize some key points:
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Citisoft is proud of our dedication to the investment management community. We remain ‘Buy-Side, By Choice.’ As a service to our clients and the investment management community, we’re selecting pertinent buy-side technology and operations content from the web and providing our take on trends and influences in our industry.
In a first quarter 2012 Peer Group Survey sponsored by Ignites, 40% of technology and operations professionals named lack of adequate resources, including staffing, as a top challenge. The key here is that the concept of adequate resources is not simply a numbers game; more is not always better. Firms need to employ individuals with the right skill sets who can execute more efficiently and push to improve the process at the same time.
It is clear that investment management firms will need to employ a much more sophisticated and detailed approach to outsourcing provider selection and due diligence based on recent regulatory signals.
Citisoft's Peter Bambrough recently participated in the Osney Client Reporting & Communications event in London, a highlight of the buy-side technology and operations conference circuit due to the event's industry focus and the quality of attendees. As a follow up to the event, Peter offers up his highlights from the event:
1. Report re-design is an essential part of any client reporting project and always involves more people and takes longer than expected.
Interesting white paper and results from SimCorp’s survey - we agree that the rising costs of maintaining legacy platforms is a real challenge, and rapidly reaching their tipping point. The risk and cost associated with ‘doing nothing’ with your enterprise systems strategy can no longer be pushed off if firms are realistic in meeting the market and regulatory demands prevalent in the global marketplace.
- Tom Secaur
“Having a redundant back-up at Northern Trust gives [Bridgewater Associates] flexibility in terms of servicing with BNY Mellon,” he says. “You’re going to keep a service provider very motivated, and you’re going to keep them operationally efficient by keeping costs down.”
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