Challenge

A growing investment management firm was experiencing business challenges due to limitations with its existing technology infrastructure, which included data imports from multiple proprietary and vendor software systems into the client’s proprietary reporting system. To produce firm-wide reporting, the team had to manually combine data from these different sources, some of which were not always readily available. This process was time-consuming and inefficient, required excessive resources, and caused errors and delays that inhibited the firm’s ability to grow and scale their business. Making changes to this bespoke reporting system became increasingly difficult due to architectural limitations. Also, the process caused adverse effects to the investor reporting process due to the inefficiencies and errors resulting from this system.

Approach

Portfolio BI was engaged by the firm to discuss a solution for enhancing its firm-wide reporting process. During these discussions, it became apparent that the client needed a comprehensive solution to address the following pain points: managing and controlling firm-wide reporting data. The client then engaged a third party to conduct a full requirements analysis and vendor selection process, which led to the client selecting PBI's Enterprise Data Management (EDM) platform for its comprehensive feature set and overall effectiveness and feasibility for the firm.
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After a brief analysis period during which PBI worked closely with the firm's key stakeholders, PBI successfully implemented PBI EDM, including the Data Warehouse and Security Master modules, to consolidate the firm's data sources and optimize firm-wide operations.
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The PBI EDM consolidated the firm's multiple data sources into a single investment and security reference data repository for all of their accounts, including their SMAs, mutual funds, and UCITS accounts. This provided a golden source of data required for a variety of operational functions, including risk management, P&L analysis, and performance reporting. The PBI EDM centralized all firm-wide information into an easy-to-use Data Warehouse with both "as-of" and "knowledge date" support. Also, PBI helped the firm successfully integrate all of its internal and third-party systems, and provided a roadmap for integrating with new systems going forward, including their new OMS and new outsourced operations vendor.

Solution

The firm now has a centralized Data Management platform and Data Governance model that match the firm’s unique strategy and business workflows and align with the firm’s current and future business needs. This has increased the firm’s operational efficiency and streamlined its firm-wide reporting process. The firm can now access data from a single source and effectively manage its portfolios without unnecessary manual data entry.