Are you drowning in data? The vast amount of data available to finance leaders within wealth and asset management firms is a doubleedged sword. While it can offer a competitive advantage, collecting and synthesizing data across multiple files and sources to draw actionable insights can be an absolute time sink. And complexity continues as fees are expected to decline by 20%, while assets under management are expected to increase, causing firms to turn to productivity boosting technologies to survive. The challenge is that many existing accounting systems used today were built decades ago and cannot keep up with today’s always on business landscape. As finance leaders grow their businesses through a mix of organic and inorganic growth, the result is a sprawling and fragmented data infrastructure overly reliant on manual processes. However, improved efficiency in the middle and back office can lead to 10-30% lower costs.
