Many investment firms’ operations and systems are complex and so is their client reporting. This can be for a number of reasons and is often due to systems that were inherited or have been part of the business for years. Trying to simplify this situation can be challenging for asset and wealth managers, because when they are looking to update or replace systems internally – they have to maintain business as usual as well. Making further changes internally often further complicates the situation.
This situation has been recognised the world over and many firms have embraced cloud-based technology for exactly this reason. By engaging with a cloud-based reporting specialist, and simply piping your data to that specialist, the operating and systems models can be simplified.
The cloud-based solution can be simply configured to your requirements by the provider, while you take care of the business as usual operation. The data feeds that support your existing legacy reporting system can be re-purposed to feed the cloud-based reporting system – minimising any development work required by the asset and wealth management firm.
The legacy systems and the new cloud-based systems can be run side by side as a parallel run, to demonstrate and prove the new system. Once fully tested, you can simply use the new cloud-based system and turn off and decommission the legacy reporting system.
In a stroke, by adopting a cloud-based reporting system, you have:
- Simplified the operations and system operating models
- Outsourced and simplified the support, maintenance and development of your client reporting system and client reports to experts
- Brought transparency and simplicity to the cost model
Opus Nebula provide Reporting as a Service (RaaS), a cloud-based fund and client reporting system. Simple to implement, as there is nothing to install in your environment, all the configuration is undertaken by us. Our fees are on a per report basis – simple and transparent. By engaging with a cloud-based reporting supplier, you are taking the first step to reporting simplicity.
To find out more about Reporting as a Service and how it benefits asset management and wealth management firms of all shapes and sizes please visit our website at www.opus-nebula.com or contact us at firstname.lastname@example.org.