SimCorp launches new investment accounting platform for buy-side clients
11 November 2021 UK
Image: denisismagilov
SimCorp has launched Investment Accounting as a Service in response to increased demand from buy-side clients to outsource back-office functions.
SimCorp’s multi-asset class platform will deliver multi-jurisdictional and regulatory compliant accounting, analytics and reporting, together with an advisory overlay.
The service provides interoperability and validates post-trade data, performs reconciliations, and ensures international accounting standards compliance.
Clients using the Investment Accounting as a Service can interact with data via a cloud-based digital self-service portal, which consolidates both accounting and non-accounting post-trade data across multiple asset types, including traditional assets, derivatives, and alternative investments to enable analysis and generate business insights.
This new solution was developed in response to a clear demand from its buy-side clients and partners for accounting services.
A recent survey conducted by SimCorp found that over half (57 per cent) of buy-side respondents currently use managed services within investment operations and accounting, and the vast majority (89 per cent) also believe they will increase their usage of managed services over the next three years.
Of those not currently utilising managed services within operations and accounting, over half (55 per cent) would consider it in the future.
The design and implementation of the service has been led by Jaki Walsh, vice president of operations and accounting.
Commenting on the new platform, Christian Kromann, CEO of SimCorp, says: “We see a decisive opportunity to increase the value we deliver to our clients – and we are in a very strong position to support them with this, as we have superior technology capabilities which will be key to unlocking the next frontier of service automation and operational efficiency.”
Jochen Mueller, executive vice president, managing director, operations and accounting services at SimCorp, comments: “We are seeing additional demand from clients in the way they access and consume technology services. The majority of our buy-side clients no longer want to just buy software – they increasingly want to fully outsource the accounting and regulatory reporting process.
He adds: “Clients are increasingly looking for their investment management solutions provider to act as an extension of the business, overseeing the technology and outcomes, rather than seeking an off-the-shelf product.”
SimCorp’s multi-asset class platform will deliver multi-jurisdictional and regulatory compliant accounting, analytics and reporting, together with an advisory overlay.
The service provides interoperability and validates post-trade data, performs reconciliations, and ensures international accounting standards compliance.
Clients using the Investment Accounting as a Service can interact with data via a cloud-based digital self-service portal, which consolidates both accounting and non-accounting post-trade data across multiple asset types, including traditional assets, derivatives, and alternative investments to enable analysis and generate business insights.
This new solution was developed in response to a clear demand from its buy-side clients and partners for accounting services.
A recent survey conducted by SimCorp found that over half (57 per cent) of buy-side respondents currently use managed services within investment operations and accounting, and the vast majority (89 per cent) also believe they will increase their usage of managed services over the next three years.
Of those not currently utilising managed services within operations and accounting, over half (55 per cent) would consider it in the future.
The design and implementation of the service has been led by Jaki Walsh, vice president of operations and accounting.
Commenting on the new platform, Christian Kromann, CEO of SimCorp, says: “We see a decisive opportunity to increase the value we deliver to our clients – and we are in a very strong position to support them with this, as we have superior technology capabilities which will be key to unlocking the next frontier of service automation and operational efficiency.”
Jochen Mueller, executive vice president, managing director, operations and accounting services at SimCorp, comments: “We are seeing additional demand from clients in the way they access and consume technology services. The majority of our buy-side clients no longer want to just buy software – they increasingly want to fully outsource the accounting and regulatory reporting process.
He adds: “Clients are increasingly looking for their investment management solutions provider to act as an extension of the business, overseeing the technology and outcomes, rather than seeking an off-the-shelf product.”
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