Is sourcing the all-important market and reference data to run your business an efficient, hassle-free process, or an expensive headache frequently beset by errors and delays?
Do you have to work with a disparate array of direct vendor feeds and legacy data services solutions to get the data you need? Are you struggling to reconcile data from different providers and manage all the relationships?
In this age of onerous regulatory requirements, complex instruments, growing client demands and cost pressures, are you searching for ways to:
- Improve data quality and completeness?
- Accelerate data timeliness?
- Provide better performance reporting, including more frequent reports?
- Enhance risk management and mitigation?
- Increase operational scalability and limit the need for additional headcount as you grow?
- Improve the productivity of your portfolio management, performance analytics, data operations and IT teams?
- Cut data-related costs?
If so (and let’s face it, who wouldn’t want to cut costs and support customers better), then a managed data service could be just the answer.
Transforming real world data problems
Forrester Consulting recently interviewed and analyzed a number of investment management organizations to learn how they benefited from deploying the RIMES Managed Data Service (MDS).
Prior to implementing MDS, the firms faced a host of common difficulties. These included data timeliness and accuracy problems, with organizations struggling to cope with the inconsistent and disparate ways index benchmark data was delivered and handled. Errors meant performance and data operations teams had to spend significant time on data validation and remediation.
Managing the different vendor formats, and in particular building multiple data feeds with multiple index providers for new projects, typically involved heavy use of IT resources. Adding new vendor sources and meeting customer requests was laborious and expensive.
Responsiveness was another sticking point. One investment firm said that in its previous environment it took a week to update its systems to accommodate any index provider changes, code the configuration and implement the change.
For these investment managers, moving to a Managed Data Service has proved transformative, resulting in:
- Reduced vendor service fees.
- IT resource cost savings.
- Improved data quality and accuracy.
- Increased operational efficiency, leading to greater staff productivity.
- Faster time-to-market, with accelerated data timeliness for key processes.
- Improved scalability and ability to explore additional product offerings.
- Better risk management and increased governance.
- Access to expertise, especially for customized benchmarks and cross-family blended indices.
- Ability to focus on core competencies.
- Increased agility and responsiveness to end clients.
The content provided in these articles is intended solely for general information purposes, and is provided with the understanding that the authors and publishers are not herein engaged in rendering regulatory or other professional advice or services. Consequently, any use of this information should be done only in consultation with qualified legal counsel. The information in these articles was posted with reasonable care and attention. However, it is possible that some information in these articles is incomplete, incorrect, or inapplicable to particular circumstances or conditions. We do not accept liability for direct or indirect losses resulting from using, relying or acting upon information in these articles.
- What will Replace Libor and Eonia?
- The FCA Turns Up the Heat on Market Abuse
- Service Spotlight: New ESG Indices, A Series of Fund Launches and Seemingly Impossible Deadlines
- [INFOGRAPHIC] The Trends, Challenges & Solutions to Maintaining Market Integrity
- European Commission Adopts BMR Technical Standards