Investment managers face many diverse challenges, but four are particularly prominent: complex global regulations; cost pressures; the hunt for investment returns; and evolving client demands. Success in this environment depends on multiple factors. One though is absolutely fundamental: ready access to high quality and timely data.
To be a leading player in the field, it is imperative investment managers meet these data needs. How? The most efficient way is to partner with a professional data services provider – as Forrester Consulting discovered when it conducted a Total Economic Impact (TEI) study to assess how firms could benefit from deploying the RIMES Managed Data Service (MDS).
Flexibility and responsiveness
The companies Forrester interviewed highlighted RIMES’ ability to meet their specific requirements. For example, one investment manager explained how RIMES’ global market expertise had helped with a Far Eastern client: “[W]e needed a special service, and RIMES was able to get in there and work things out and deliver it successfully. They saved us from losing an institutional client.”
Another interviewee said: “When it comes to customer requests, when we need something new, it’s a much quicker and more seamless process than it used to be to investigate whether it’s available, and then if available, to turn it on.”
Manage change seamlessly
RIMES ensures users’ business processes run smoothly by handling all data anomalies and delivery failures from their data vendors, as well as managing any data feed changes and remediation. Firms can better manage and mitigate risks as a result too.
One investment firm said it used to take a week to update its systems to accommodate any index provider changes. However, with RIMES it now operates in a real-time environment.
Thanks to RIMES’ 24×7 services and support, the timeliness of the study participants’ benchmark data has been dramatically enhanced.
One investment firm explained it can now get quality data to its Asia Pacific teams at the start of its trading day, an average of two hours earlier than its pre-RIMES environment.
Another said that with RIMES the majority of its data is loaded at 1 a.m. Eastern Time, compared to a final load at 8 a.m. or 9 a.m. previously – a major improvement for its offices in Asia and Europe in particular.
Support new business initiatives
The Forrester study found that with RIMES MDS firms can easily expand the vendor sources they use. RIMES’ expertise – not least around customized benchmarks and cross-family blended indices – also allows organizations to explore additional product offerings and services for their increasingly sophisticated clients.
One participant noted that its investment data management team had been more equity-oriented, but RIMES has enabled it to grow in the fixed income and market events space, without having to add additional resources. “We are in a much better position to focus on the market events and to focus on taking the data we’re getting and adding more value for the front office.”
RIMES allows us to support newer and different products,” said another interviewee. “It allows us to tap into areas where previously we didn’t have any sort of data or perspective on that market segment.”