Assets managers in a pickle over data quality
19 November 2015 New York
Image: Shutterstock
Asset managers are not particularly confident when it comes to quality and consistency in data management, even though they consider it important to their organisation, found a survey by SimCorp and AIM Software.
Although 95 percent of respondents said that data quality issues are extremely important in relation to their daily operations, 69 percent said they are ‘lukewarm’ in their confidence that their organisation can deliver quality, and consistent, data throughout their whole operations.
Similarly, while 88 percent believed that a single book of record across the whole business could improve operational efficiency, only 45 percent said they have such a book of record.
Ian Grow, sales director at AIM Software, said: “The sharpened focus on risk management and transparency is driving the need for consistent and reliable data, as well as new regulatory and client demands for increased reporting.”
“What many do not realise is that these needs can be met cost effectively, and when implemented properly, data management can improve profitability due to higher business efficiency, increased agility and cost reductions.”
Marc Mallett, vice president of product and managed services at SimCorp North America, said: “The value of data management as a competitive tool should not be underestimated by buy-side firms.”
He added: “The search for alpha continues and investment decision-makers in the front office need an intra-day updated view of their positions, activities which require accurate and timely data.”
The survey was conducted in a webinar hosted by SimCorp and AIM Software, and included 58 individuals from 47 firms in North America.
Although 95 percent of respondents said that data quality issues are extremely important in relation to their daily operations, 69 percent said they are ‘lukewarm’ in their confidence that their organisation can deliver quality, and consistent, data throughout their whole operations.
Similarly, while 88 percent believed that a single book of record across the whole business could improve operational efficiency, only 45 percent said they have such a book of record.
Ian Grow, sales director at AIM Software, said: “The sharpened focus on risk management and transparency is driving the need for consistent and reliable data, as well as new regulatory and client demands for increased reporting.”
“What many do not realise is that these needs can be met cost effectively, and when implemented properly, data management can improve profitability due to higher business efficiency, increased agility and cost reductions.”
Marc Mallett, vice president of product and managed services at SimCorp North America, said: “The value of data management as a competitive tool should not be underestimated by buy-side firms.”
He added: “The search for alpha continues and investment decision-makers in the front office need an intra-day updated view of their positions, activities which require accurate and timely data.”
The survey was conducted in a webinar hosted by SimCorp and AIM Software, and included 58 individuals from 47 firms in North America.
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