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Data Management Client Challenges

List of Challenges Our Clients Face in Data Management

Product Data

Product data in Asset Management is often fragmented and split across multiple systems. It is not uncommon for clients to re-key data in order to maintain the integrity of disparate processes' which is time consuming and inherently prone to errors. Often there may be no easy way for the client to view consolidated product offerings.

ISC worked with a large Asset Manager to assist in the design of a Product Data Hub based on due diligence completed on third party / vendor software. This was used primarily to create a single point of input for all product data with the information disseminated to downstream systems.

The benefits to the client included greater control over their product information and an improved ability to bring new products to market. The solution also gave them the ability to make rapid changes to their product offerings, condensing changes that had previously taken considerable manual input to a simple upload process. The client was then able to schedule changes across multiple offerings that were previously impossible.

Data Strategy

Our clients accept the importance of a good Data Strategy and that a strong, clearly defined, strategy is essential to enable controlled systemic growth within the organisation.

ISC has worked with clients to create the key elements of a successful Data Strategy, strategic data architecture, data operating model and data governance. We also work with clients to help align their Data Strategy to strategic longer term IT Strategies.

Once implemented, the new Data Strategy leads to uniform data across all business areas with coherent and consistent definitions, accuracy and timeliness, removing duplication and inefficiencies across the data management processes. A new Data Strategy also creates scalable platforms for our clients which they can later rely on for regulatory and client reporting. Additional benefits also see costs of data collection minimised, reduced fees paid to vendors having removed significant duplication and creating a scalable platform on which the business can grow.

Data System Selection

Many clients find that their existing data solutions don't support their current and future business needs. A lack of scalability and the inability to deliver data effectively to meet end users' needs being the major costs of ineffective data solutions Clients also experience difficulties supporting the increasing complexity of financial instruments and the evolution of regional and global organisation structures. These elements impair operating efficiency and create and may result in unnecessary cost.

ISC have worked with clients across the full change management process, undertaking initial assessments of existing solutions, scoping and gathering requirements for producing Target Operating Models. With our clients, ISC undertake system selection processes, RFI, RFP, scoring and contract negotiations. We also have a wide range of experience in implementing software solutions given our knowledge of a number of best practise market vendors, covering configuration, testing, migration and operational readiness.

ISC's key deliverable is to ensure that all factors are taken into account in the selection and implementation of data management systems - from internal operational requirements and existing systems and data infrastructure through to industry wide best practice considerations; from ensuring end clients receive timely, accurate and complete data to putting in place a robust and coherent operating model.

ISC Data Management Capabilities