Data accuracy a challenge for investment managers

Data accuracy a challenge for investment managers

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Vermilion Software's paper ‘Catalysts for Change in Client Reporting’ has revealed that data accuracy is the biggest client reporting challenge facing investment managers.

The survey of more than 100 senior financial technology and data decision makers in investment management, conducted by WatersTechnology, found that more than a third (38%) cited data accuracy as their biggest challenge for client reporting, followed closely by mobile reporting solutions (37%) and regulation (35%).

The survey also highlighted an increasing client demand for better quality data, with in excess of half (54%) of respondents reporting an increase in requests from their clients for more accurate and timely data. This problem is compounded by difficulties in aggregating and consolidating data from a growing number of input streams.

According to Vermilion Software, the need for more detailed quantitative analytics, real-time data and interactive reports is on the rise and investment management companies recognise the need to invest in and maintain their systems, with companies seeking to realise cost efficiencies, replace ageing technology and adapt their systems to cater for changing regulatory requirements.

Three quarters (74%) of those surveyed have already made a significant investment in client reporting technology or minor upgrades to their systems over the last two years and more than half (61%) plan on further investment in client reporting technology over the next three years.

Simon Cornwell, global sales and marketing director Vermilion Software said, “The survey findings indicate that investment managers will need to focus on driving data quality improvements, better quality reporting and mobility solutions in order to keep pace with evolving client requirements. Investment managers may look to adapt their processes and technology to be in a better position to respond to increasing pressure for more timely and efficient processes, regulatory change and the increased need for service excellence.”
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