MoneyMate Poll Finds Buy-Side Data Management a Key Initiative in 2012

New York - 29 February 2012

80% strongly believe that automation of data management is crucial

MoneyMate, a specialist provider of investment data quality management solutions, today announced the results of a recent data management poll conducted amongst buy-side participants. The poll looked to gauge the industry’s priorities in 2012 and whether firms were focused on data management initiatives.

When asked which factors were primarily driving data management initiatives within their companies, over 60% of respondents cited regulation as a key driver. Nearly 80% of respondents also stated that automating their firms’ data management processes were very important.

“We have seen an increasing number of buy-side firms seriously looking at improving their data quality management processes,” notes Ronan Brennan, CTO of MoneyMate. “Our poll results validate this trend. 2012 will be a year in which buy-side firms will need to address regulation head-on and demonstrating transparency in data management will be a crucial part of compliance.”

In addition, respondents were asked about their firms’ primary priorities in 2012. Client service was a key agenda item, with 45% of respondents rating it as one of their top two priorities. Over 50% of respondents stated that gaining new clients was the most important priority this year. Over 30% of participants stated that reducing costs was the top priority. Of least importance was launching new products, with 50% of respondents stating it as low on the priority scale.

Brennan added, “Despite regulation, it’s clear that buy-side firms are growth-oriented. In order for firms to take on new clients while complying with regulation, firms absolutely need to improve data management processes in order to scale. We are working closely with asset managers and mutual fund firms in North America and Europe to help them deliver automation and data transparency to their clients.”

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