Interesting article posted on Bobsguide about a new survey by Osney Media and Backbay Communications. The survey revealed 52% of asset management companies surveyed are planning to replace outdated or legacy technologies in the next 12 months, and that 65% of firms claim regulation is the biggest drive of industry change. The survey also reported firms’ main initiatives over the next 12 months were to implement an online client reporting portal, data governance and outsourcing of technology operations.
Asset managers face a number of challenges, including the need for better data governance driven by increasing client demand and regulatory change. As the article states, “We are expecting to see an increase in organizational and technological change projects getting underway in the next 12 months as firms look to adapt to these shifting sands.”
At INDATA, we have witnessed this trend first hand as many of our current and prospective clients have opted to upgrade or are looking to upgrade their current systems to our iPM Epic software as well as our INDATA SA outsourcing solutions. Additional functionality surrounding client reporting and analytics as well as better data governance through centralized data management tools based on big data tech are key drivers surrounding our clients decision making.