The State of Wisconsin Investment Board (SWIB), a $104B government-owned pension fund based in Madison, has announced the successful completion of its four-year operations and technology transformation program with the support of Citisoft.
Michael Williamson, Executive Director at SWIB, discussed the program with WatersTechnology. "Completing this transformation project allows us to compete in a more diverse and complex investment environment. By using top industry solutions for risk, analytics, and attribution, in addition to a new finance and administration platform, new data management systems, a new data integration architecture, and new reporting and business intelligence capabilities, we have achieved an integrated platform serving portfolio and order management."
Citisoft's David Bates weighed in on common pitfalls in major transformations such as SWIB's. "A lot of times, organizations will bring in bespoke technologies that aren't fed through an integrated architecture and that can lead to increased future operating costs, lack of flexibility, [and] lack of traceability of data issues. Part of the challenges of a major transformation...is ensuring that that integration architecture is well thought-out."
"The bottom line is that we can streamline operational processes through automation, scale our investment model, and focus on data quality," Williamson commented.
For more insight on SWIB's technology and operational transformation, read the full article.