Citisoft's Steve Young recently penned a blog for FTSE Global Markets on the recent trend of vendors reorienting their businesses towards a service provider model. While asset management tech appears to be developing into providing services, Steve warns that not all vendors are truly ready to innovate.
Steve comments, "When one considers what it takes to evolve from a software vendor to a service provider...I think some vendors in the investment management industry are somewhat naïve. Certainly in the initial stages of this journey, vendors often think that the requirement is technical; it’s about putting their software in the Cloud or delivering the software in a different way. These are considerations, of course, but what is more important is how the vendor thinks and behaves as a firm."
For more of Steve's insight on how to tell if a firm is merely changing its marketing or truly evolving to provide services, read the full blog.