SAN FRANCISCO – December 16, 2010 – Advent Software, Inc. (NASDAQ: ADVS), an award-winning provider of software and services to the investment management industry, announced today the results of a study concluding that a research management solution (RMS) can save investment firms around 40% in labor costs associated with inefficient and often futile information searching.
Based on a survey of 360 portfolio managers, research directors and analysts, the study found that highly compensated professionals spend an inordinate amount of time searching and sifting for information that is already in their firms’ possession, but scattered among different systems – email accounts, network drives and individual computers. The inability to find critical decision-making data quickly is costly, not only in staff time but also in missed opportunities.
To quantify the cost of searching for data and the potential savings with an RMS, Advent correlated the survey findings with data from the most recent annual Asset Management Operations and Compensation Survey, sponsored by the Investment Adviser Association and the Advent Users Group. The study matched the hours that respondents spend on internal searching against the national industry-average compensation for directors of research, portfolio managers and analysts. Among the key conclusions:
By centralizing, organizing and sharing research data in a single system, such as Advent’s Tamale RMS®, firms stand to save a significant amount of time spent searching for, compiling and analyzing information internally. Translated into dollars, the potential savings for these two investment teams are:
The full analysis appears in an Advent white paper, The ROI on RMS.
“The time and dollar savings are significant, but only part of the ROI,” says Mark Rice, General Manager of Tamale at Advent. “The real value of an RMS is that it empowers your most valuable people to spend more time evaluating opportunities, vetting ideas and deliberating decisions, all of which can improve performance. Moreover, an RMS preserves your intellectual capital when key staff members leave the firm, and it demonstrates to clients and regulators that you have a disciplined due diligence process.”
About Tamale RMS®
Tamale RMS®, the industry’s original research management solution, helps portfolio managers and analysts organize and share their research, in order to manage more investment ideas, more effectively. The solution, which is used by over 2,500 investment professionals around the world, organizes information around the workflow of each investment professional or team and provides features that enhance the research process. Tamale RMS® brings unparalleled efficiency and organization to the research process. For more information on Tamale RMS®, visit http://www.advent.com/solutions/by-product/tamale-rms.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Today firms in more than 50 countries rely on Advent technology to run their mission-critical operations. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products, visit http://www.advent.com/about/resources/demos/pr.
Advent, the Advent logo, Advent Software and Tamale RMS are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.