SimCorp Survey Reveals Shaky Confidence amongst Asset Managers when it comes to Quality and Consistency in Data Management
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A recent survey released by SimCorp has revealed that although the majority of asset managers consider data quality to be of prime importance, most struggle with ensuring consistency and quality across their organizations. The survey was conducted during a recent webinar hosted by SimCorp and AIM Software titled “Mastering Data Management: Going beyond Traditional EDM Approaches.”
The survey polled 58 individuals from 47 firms across North America. Survey highlights:
- 95% rate the importance of data quality issues on their firm's daily operations as extremely important
- 69% are lukewarm in their confidence that their organization can ensure consistent data across the system
- More than 88% believe that a single book of record across an entire business improves operational efficiency, yet only 45% claim to have one
“The sharpened 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. What many do not realize is that these needs can be met cost effectively, and when implemented properly, data management can improve profitability due to higher business efficiency, increased agility and cost reductions,” said Ian Grow, Sales Director at AIM Software. “We chose to partner with SimCorp in order to provide a centralized, off-the-shelf data management process that solves data quality problems upfront. The partnership supports a fast ROI by growing best practices and focusing on business logic rather than integration work.”
“The value of data management as a competitive tool should not be underestimated by buy-side firms,” explains Marc Mallett, Vice President, Product & Managed Services, SimCorp North America. ‘The search for alpha continues and investment decision makers in the front office need an intra-day updated view of their positions, activities which require accurate and timely data.”
http://www.simcorp.com/knowledge/webinars/webinar-mastering-data-management-going-beyond-traditional-edm-approaches