Asset and hedge fund managers share how they would change their approach to Managed Service Providers in a joint survey with TSAM
Boston, MA – November 17, 2015 –IMP Consulting today announced results from the company’s joint survey with TSAM: The 2015 Investment Management Outsourcing Survey. The survey revealed information on which systems investment managers were outsourcing; the challenges associated with them; and what they would do differently in the future.
The survey revealed one key theme across most responses: firms would conduct a more thorough requirements analysis of their own needs in conjunction with conducting a more in depth validation of the vendor’s capabilities, including the vendor’s resources and qualifications.
Most notably, 50% of respondents said that they would conduct a Proof-of-Concept (POC) before signing the contract. Other survey findings include:
· 30% of the firms that use SaaS for their OMS have now been live for over 3 years, with 24% having a 5-year history.
· Nearly 44% of the respondents reported that getting experienced resources for the project was among their biggest challenges.
· 32% faced challenges with staying within the original budget while 35% had trouble staying within the timeframe that the provider had planned.
· 30% see an opportunity to outsource their Compliance or Risk Systems in the next five years.
“Outsourcing projects are rarely easy, but experienced resources anticipate challenges and ensure that good results are achieved,” said Jane Stabile, President of IMP Consulting. “However, the survey data suggests that one of the biggest challenges is actually finding these resources. The end result is that 1/3 of outsourcing projects are wrapping up late and over budget.”
Some of the most valuable data of what the survey uncovers includes the ‘lessons learned’ in the case where an outsourcing project was not deemed a success.
The results of the survey are based on the voluntary responses of participants representing the areas of traditional Asset Management firms and Hedge Funds. The responding hedge funds were all over $500 MM in AUM, with 75% over $1 billion. Traditional asset managers reflected approximately 86% of the firms over $50 billion in AUM and 14% with AUM in ranges of $1 billion to under $50 billion.
Click here to download an overview of the survey results. A copy of the results will also be available at IMP’s booth during TSAM’s Congress & Expo, November 19th in Boston, Massachusetts. To set up a time to speak with IMP about the survey results, please email firstname.lastname@example.org.
IMP Speakers at TSAM
Jane Stabile, President of IMP, will be presenting during the panel: Providing the Optimum Value and Support to Front Office Functions
Gigi Szekely, Managing Director of IMP, will be moderating the panel: Compliance in an Age of Increasing Regulation
About IMP Consulting
IMP Consulting helps buy-side investment management firms and hedge funds successfully implement and maintain trading and compliance systems. IMP also offers advisory services, system review and selection, and management of outsourcing projects. Known for their deep subject matter expertise in OMS, EMS, Compliance and Accounting Systems, IMP's Consultants understand the commercial landscape and have broad, hands-on experience with the world's leading investment software products. To learn more, please visit www.impconsults.com or call (617) 314-7415.
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