97% of investment management firms plan to drive structural change in the back office over the next 12 months. In many cases, changes will look to replace manual processing, which some firms still rely on to service clients and their investments.
Back-office optimisation: to build or buy?
Firms looking to modernise back-office financial controls processes have two options available to them:
- To build their own system using in-house resources
- To buy a purpose-built financial control system from a dedicated provider
According to Deloitte, around 10% of investment management firms plan to build their own solutions in-house using internal resources. However, these companies often don’t realise that build-it-yourself software has a range of unexpected drawbacks that cost investment firms in the long run.
In this piece, we break down the five pitfalls of homegrown operational software within the asset management industry.
Download the full paper to learn:
- How asset managers currently manage their financial controls
- What tempts many firms to build their own software
- The five pitfalls of self-built operational software
- The hidden, long-term costs of homegrown software solutions
- How to avoid the pitfalls and effectively optimise back-office processes
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