SimCorp Published Paper Highlights Buy-Side Benefits of Data Governance Structures
Data reliability poses an increasing regulatory and reputational risk to asset managers as data is maintained rather than managed.
SimCorp, a leading provider of investment management solutions and services for the global financial services industry, has released a paper from integrated investment management consultancy Investit titled, “Data governance: key contributor to successful data management strategy.” The paper notes that by permeating data governance throughout an organization, buy-side firms can ensure good quality data at every level and positively impact the bottom line.
“Investment management firms are starting to grasp the importance of defining and establishing a governance framework to ensure delivery of a cost-effective, flexible, scalable and sustainable data management solution,” explains John Robertshaw, author of the paper and Principal within Investit’s Operations Practice. Data governance can be a major contributor to aligning and improving an enterprise-wide dialogue in data.”
Citing that many firms invest substantially in IT infrastructure systems, the paper explains that few adopt the holistic view required to extract value from the data these technology investments are meant to harness, manage and govern. In terms of benefits, good data governance:
- Improves enterprise-wide performance of data management
- Applies good practice management of a firm’s data assets
- Instils overall confidence in the integrity and quality of data
- Lessens risk through use of data quality control mechanisms
- Eases regulatory compliance through good quality data
According to Marc Schröter, Head of Strategic Research at SimCorp, “Ultimately, a well-formulated data governance program drives transparency for buy-side firms and can be a significant differentiator. In today’s disparate system landscape, data accessibility and quality are major obstacles, especially when generating up-to-date and accurate client reports. Considering the industry’s increasing regulatory environment as well, asset managers must ensure enterprise-wide data quality and control.”
For further details, please download the full paper here.
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Enquiries regarding this announcement should be addressed to:
Susan Peter, SimCorp North America, +1 917-546-4654
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About SimCorp
Since 1971, SimCorp has been providing investment and portfolio management solutions and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers. SimCorp’s world-class software provides global financial organisations with the tools they need to mitigate risk, reduce cost and enable growth. SimCorp is a global company, regionally covering all of Europe, North America and Asia Pacific. Listed on the NASDAQ OMX Copenhagen, SimCorp is dedicated to supporting the global investment management industry, its clients and its investors. For more information about SimCorp’s products, please visit www.simcorp.com/product.