Survey of 375 global asset management firms reveals need for improvements to data management to inform investment decisions and boost regulatory compliance, risk management, and client engagement
CAMBRIDGE, Mass., October 30, 2023 – New research commissioned by InterSystems, a creative data technology provider, surveyed 375 decision makers at asset management firms globally and revealed that the top data management challenge reported by firms is eliminating errors, despite advances in digitalization. Conducted by independent research firm Vitreous World, Data: A Competitive Differentiator details additional findings and insights around data management challenges and trends at asset management firms.
Key Research Findings
In today’s challenging environment of rising interest rates, fee and margin compression, and market volatility, key decision makers at asset management firms reported that they need more accurate and timely data to meet their myriad business goals.
Key findings from the survey included:
- Eliminating errors is the top data management challenge and top business driver for improving data management, with 54% of respondents reporting that it is their top challenge and 44% noting it is their top business driver.
- Other business drivers for improving data management include responding to requests from the business in a timelier manner (41%), providing the front office with accurate data for making investment decisions (37%), and providing more timely reporting data for internal and external stakeholders (35%).
- Only 3% of respondents use data that is less than 5 hours old for reporting, 46% report that the data they use to make business decisions is more than 24 hours old and 17% use data that is more than one week old.
- 66% of respondents require six to nine people to process data to meet the needs of business stakeholders, and 41% percent of firms report that their IT personnel spend between 26 to 50% of their time servicing data requests.
“This research confirms that the top data management challenges for asset management firms are around access to accurate, timely, and trusted data in order to eliminate errors, inform investment decisions, and to better address compliance, risk management and client engagement needs,” said Joe Lichtenberg, Global Head of Product and Industry Marketing, InterSystems. “To do this effectively, firms must minimize labor-intensive and error-prone manual processes that erode efficiency and create delays in order to adapt and thrive in this challenging new environment.”
To download the full report and examine the findings in more detail, visit InterSystems.com/AMsurvey.