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Data Complexity Case Study #1

International Investment Management Group Consolidates Data Management Function to Reduce Complexity

The client

The client is an international investment management group, listed on the London Stock Exchange and managing around US$252 billion on behalf of institutions and private clients. Until recently, index data and benchmarks were managed on an in-house database. However, as data sources grew in volume, they also grew in complexity. It needed to find a new, streamlined approach to data management.

The challenge

Several factors contributed to data management complexity. Data was sourced from multiple index vendors so there were many relationships to manage. Data was delivered in different formats and its quality varied. All data was subject to validation, synthesizing and reformatting in preparation for use. Adding new indexes and benchmarks took time and involved several parties from negotiation to delivery. In practice this impaired business agility and created opportunity costs. Having considered its options, the company invited RIMES to propose a solution.

The solution

RIMES was used firstly to handle fixed income data. However, the effectiveness of the service meant that other data was soon added. The flexibility of the managed service meant that new benchmarks could be added quickly and easily, and as required by the business. By using RIMES, the company found that it could respond more quickly to client needs, while controlling data management costs and reducing complexity.

The benefits

The client also benefits from expert support, provided by the RIMES Global Support Team, which provides instant access to a wealth of industry experience and practical know-how. In choosing RIMES, the firm has insulated itself from vendor format changes, which in the past had created a complex administrative burden.

Overall, the client has benefited from significant cost and time efficiencies that have freed investment team members to focus on core tasks. It has also eliminated the operational risk associated with managing key processes in-house.