Known to be at the heart of every key business decision, data is now considered one of the most valuable resources in any asset management firm. However, its management tends to be highly complex due to the increase in its volume and variety over the years – from alternative data to big data and more. With this, managers are struggling to control their internal and external, structured and unstructured data sets, leading to challenges related to processing, deduplication and consolidation that ultimately limit its use to effectively generate meaningful analytics and drive informed decision making.
To solve these operational challenges, many are investing in “Data Management as a Service” – a next-generation, client-focused, digital-first and cost-effective solution to organize, categorize and localize diverse data sets with built-in flexibility, transparency and governance. Offloading the work of managing these diverse data sets, Data Management as a Service helps managers maintain control over their data and drive a number of operational efficiencies such as:
- Quality – Seamlessly integrates multiple data sources, prioritizes and deduplicates the different sources, and manages data governance from a single place, thus providing data of the highest quality for managers’ use.
- Simplified Operations – Substantially simplifies the data management process by centralizing the data ingestion, consolidation, and governance functions.
- Technology and Process Expertise – Provides built-in data dictionaries and data catalogs that are catered to industry-specific needs and also enables quick troubleshooting.
- Removal of Operational Bottlenecks – With capabilities such as advanced workflow management, exception management and data validation, bottlenecks can be efficiently managed and removed without compromising data quality.
- Real-Time Data Insights – Allows for the generation of real-time data insights using a suite of cloud-based tools, thus leading to more informed decision making.
- Improved Distribution – With centralized data management, funds can easily distribute the same enriched data across multiple teams, improving accuracy and enabling quicker access.
- Transparency – A digital-first platform provides “audit anytime” capabilities, making all data available for scrutiny and at various checkpoints throughout the workflow, which gives fund managers refined control and confidence over the data.
With IVP Data Management as a Service, asset managers can shift their focus away from the complexities and challenges associated with managing their data and toward alpha-generating activities. Leveraging the IVP Master Data Management suite of solutions, managers can experience a number of advantages such as the reduction of cost and operational risk, increased data quality, greater transparency and, most importantly, the expertise of the IVP team to help drive decision making for risk management and portfolio optimization.
Learn more about the benefits of Data Management as a Service, or contact sales@ivp.in.
