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Clients require improved reporting accuracy and efficiency

Rhyme Systems, a leading provider of asset management solutions, today announces key findings from research into the latest client reporting processes, conducted during the first two months of 2007 with a range of London-based investment management firms. The research concentrated on analysing the main client drivers for change and how asset management, wealth management, private banks and stockbrokers plan to respond to these changing demands.

Some of the key findings in the study include:
Changing client demands
. Investment firms recognise an increasingly sophisticated client base is driving change in reporting – clients demand greater personalisation and flexibility from the traditional reporting model
. High quality and accurate reports are seen as a necessity by firms wanting to improve client retention and attract new business

Importance of third party applications
. Firms require more flexible third party reporting applications to meet the continually growing demand for faster, more complex data reports
. Firms currently prioritise the accuracy and quality of reports above the costs of producing them – efficiencies are only considered if they do not compromise the client experience
. Only firms with modern integrated reporting solutions were able to offer flexibility in reporting without impacting lead time or cost significantly
. Centralised management of data from disparate sources is key to producing complex and customised reports while also enabling firms to improve their control over the entire process

Web-enabled technology
. The web is recognised as a critical area where firms can achieve greater flexibility in their reporting processes – allowing companies to provide more customised reports with faster execution and real-time information

Removal of all manual processes
. Firms across the investment management community recognise the benefits and wider aim of moving to a paperless reporting model, eliminating all manual processes