NEW YORK--(BUSINESS WIRE)--SimCorp, a leading provider of investment management solutions for the global financial services industry, is showcased in an in-depth TabbFORUM video describing how the integration challenges associated with best-of-breed solutions often outweigh the benefits.
“Why 'Best-of-Breed' May Not Be the Best Solution”
The video, entitled “Why 'Best-of-Breed' May Not Be the Best Solution,” features Alex Tabb, Partner at TABB Group, and David Kubersky, Managing Director of SimCorp North America. Tabb and Kubersky discuss potential shortcomings of ‘best-of-breed’ technology and explore why some firms still rely on disparate systems despite the availability of innovative technology that improves operational efficiency and boosts performance.
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Firms utilizing a ‘best-of-breed’ approach tend to rely on a patchwork of systems that may not be able to fully support firms’ growth strategies. Such systems are at risk to fail to both provide multi-asset class coverage and support multiple accounting frameworks, currencies and statutory reporting requirements. Oftentimes, organizations have overlapping applications supporting the same functionality.
“Reducing complexity translates to the bottom line and is one of the compelling reasons to say best-of-breed may not be the best,” explains Tabb.
“Buy-side firms need to immediately and accurately know the value, risk and exposures of their portfolios. If the systems they have in place cannot easily provide these answers in a timely fashion, they need to take a hard look at the technology infrastructure they have in place,” adds Kubersky. “Legacy systems can’t support the broad and rich set of products that firms need to be competitive and grow. There is a strong business case for the buy-side to move away from disparate systems and adopt a state-of-the-art platform to gain the enterprise-wide view required to succeed in today’s marketplace.”
To learn about the business benefits that SimCorp’s state-of-the-art technology delivers to the global investment management industry, clients and investors, please visit www.simcorp.com/product.
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers. SimCorp’s world-class software provides global financial organisations with the tools they need to mitigate risk, reduce cost and enable growth. SimCorp is a global company, regionally covering all of Europe, North America and Asia Pacific. Listed on the NASDAQ OMX Copenhagen, SimCorp is dedicated to supporting the global investment management industry, its clients and its investors. For more information about SimCorp’s products, please visit www.simcorp.com/product.
TabbFORUM is the site for thought leadership on important issues affecting global capital markets. Launched by TABB Group in February 2010 exclusively for capital markets professionals, TabbFORUM is "where capital markets speak" -- it's the place for exchanging ideas and information, finding out what your colleagues in the industry are thinking about, and engaging in lively debate. Much of our content is contributed by industry professionals for other industry professionals; in fact, our roster of industry contributors reads like a "who's who" of the industry. TABB Group supplements all of this with commentary and research written by our own executives and analysts, plus relevant news items, press releases and event listings (www.tabbforum.com).