The acceleration and advancement of technology in today’s financial markets means mass amounts of information is readily available. Investors expect to see this reflected from their managers in the form of greater transparency and pinpoint accuracy. While managers prefer to focus on what they know – generating returns – how do they ensure their investors are receiving the information they require, while avoiding a strain on their back-office teams?
Connecting with the best partner
The best technology partner is one that creates value through collaboration and is a direct extension of your team. This Hedgeweek Special Report: Customising the Portfolio Accounting Experience Relies on Superior Technology, suggests firms focus on three key questions when evaluating technology provides:
- What technology does the partner use to accomplish the tasks they have agreed to perform?
- Who are the people doing the work; what is their expertise?
- Who else is using this service from your peer-group that you can elicit feedback from?
Once a decision has been made to bring in a technology partner, it is imperative that there is buy-in across the board, and the decision explained to investors. If going with a single vendor model, some investors may be concerned about concentrating operational workflows with a single counterparty.
Capturing and managing data at scale
A framework which supports data governance functions, as well as customized task management that can be layered onto existing workflows is key to making operations more seamless. This allows for the potentially massive amounts of data to be captured, normalized, matched, and managed accurately; much to the delight of investors who are eager for this information. Streamlined data access also helps to keep your team focused on core functions and lower the overall operational burden.
For more on how managers are ensuring their account processes and workflows are built on a foundation of the best technology, read the Hedgeweek Special Report: Customising the Portfolio Accounting Experience Relies on Superior Technology.