A recent survey released by SimCorp, a leading provider of investment management solutions and services for the global financial services industry, has revealed that although the majority of asset managers consider data quality to be of prime importance, most struggle with ensuring consistency and quality across their organizations. The survey was conducted during a recent webinar hosted by SimCorp and AIM Software titled “Mastering Data Management: Going beyond Traditional EDM Approaches.”
The survey polled 58 individuals from 47 firms across North America. Survey highlights:
- 95% rate the importance of data quality issues on their firm's daily operations as extremely important
- 69% are lukewarm in their confidence that their organization can ensure consistent data across the system
- More than 88% believe that a single book of record across an entire business improves operational efficiency, yet only 45% claim to have one
“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 realize 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,” said Ian Grow, Sales Director at AIM Software. “We chose to partner with SimCorp in order to provide a centralized, off-the-shelf data management process that solves data quality problems upfront. The partnership supports a fast ROI by growing best practices and focusing on business logic rather than integration work.”
“The value of data management as a competitive tool should not be underestimated by buy-side firms,” explains Marc Mallett, Vice President, Product & Managed Services, SimCorp North America. ‘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.”
Enquiries regarding this announcement should be addressed to:
Dmitriy Ioselevich, Peppercomm Communications, dIoselevich@peppercomm.com, +1 212 931 6177
Erica Fidel, SimCorp North America, efl@simcorp.com, +1 212 994 9453
About AIM Software
AIM Software is the fastest growing and award-winning provider of Enterprise Data Management (EDM) solutions to the financial sector.
Financial institutions rely every day on AIM Software to solve imperative industry challenges associated with risk, regulation, policy, efficiency, compliance, cost, and control. Based on its award-winning product GAIN, over 100 of the world’s leading financial institutions benefit from a consistent set of quality data across all systems they must utilize for efficient, accurate operations. Compared to first generation vendors or EDM toolkits, AIM Software‘s approach based on products ensures faster projects, lower life cycle costs and tangible business outcomes.
About SimCorp
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds, and wealth managers. Based on its world-class software platforms, SimCorp Dimension and SimCorp Coric, SimCorp provides global financial organizations with the tools they need to mitigate risk, reduce cost, and enable growth. Listed on the NASDAQ OMX Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.