Data Supply Chain Optimization Within Investment Management

Asset managers are taking a leaf out of the playbook of data-first, digital leaders by placing data and insights at the heart of their offensive strategies. According to one US study, 96% of firms with at least $20 billion of assets have data analytics teams, and 80% of them are expanding data analytics to differentiate and reduce operational risk.

However, in discussions around the value of data analytics and insights for investment firms, one crucial part of the story is often overlooked: the important but unglamorous task of sourcing and cleansing data before it’s consumed throughout the firm.

This operationalizing element of the data value chain is critical to turning data into timely, actionable insights. Leaders in the space recognize that the process is about much more than simply delivering flat files to downstream applications. Source to system data management, where data is managed at every point of its journey from supplier to end user, is a value-add to the business that can make all the difference between the success or failure of a data strategy.

There are a number of key reasons:

  • Better visibility of suppliers/operations. Source to system data management delivers deeper understanding of your data suppliers and their service performance for more efficient supplier management and market data cost optimization.
  • Better understanding of data consumers. The approach enables data management teams to accurately map the volumes, use cases and market data requirements of end users.
  • Continuous improvement. Source to system data management enables interaction with the data throughout its lifecycle to satisfy a wider user community and maximize “eyes on” the data for real-time oversight and continuous improvement.
  • Helping determine the boundaries of your operations. Outsourcing the operational data management from source to “actionable interaction” allows an organization to focus on its core value proposition.
  • Stopping information leakage. Removing all of the breaks in your data supply chain created by multiple owners and technologies will ensure greater firm-wide trust in the data.

According to Andrew Barnett CFA, Head of Product Strategy at RIMES: “A fragmented and federated data supply chain succeeds only in increasing inefficiencies, reducing the agility of services and potentially driving information loss. Fortunately, there’s a better approach.

“RIMES’ Managed Data Services enable complete source to system data management. In effect, our platform is like the Amazon of the investment management data world. Amazon provides a one stop shop for consumers’ retail needs, allowing them to easily compare services, providers and costs, before taking care of delivery and enabling people to track their goods. Similarly, RIMES provides a one stop shop for data, sourcing data from over 650 data partners and delivering it fit for purpose to our customers, with clear visibility of where the item is in its manufacturing and delivery lifecycle.

“RIMES turns analogue data into a digital workflow that enables better governance, control and oversight. We also provide firms with a range of options for consuming their data, as well as providing analytical tools like python and APIs so they can easily link data to value-adding services.

“This is the operational data management element that firms have been missing. The leaders that put in place a source to system approach like ours will find they’re able to execute their data strategies far more effectively and faster than their competitors.”

RIMES has deep industry and data expertise and can provide much more information on this topic. If you would like to hear more, or set up a call to discuss, please get in touch.

 

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