"2004 proved to be a tremendously successful year for the Linedata Services Asset Management business. At a time when many of our competitors recorded little or no new business, here in the UK, we have signed up more new business than in any 12 month period in our history".
So says Paul Roberts, Linedata Services (UK)âs Chief Operating Officer, who has steered his company through its greatest successes. "We are very proud of what we have delivered in 2004, both in terms of new sales and moving our product set forward, and we relish the challenge of building on this tremendous achievement in 2005".
The Key Success Factors
The Thomson Financial ex-PIMS business was quickly integrated into Linedata Servicesâ global infrastructure during 2003, and was soon benefiting from the business focus the new parent company brought, as well as a significant financial investment in its product set.
Paul Roberts explains, "Investment in our products is vital to ensure they remain in the vanguard of industry leading systems. Our customers expect it, and we work closely with them to keep our product plans on track and up to date. As a result, when we come to new business opportunities, we are confident that our products lead the market, and will meet the needs of the modern investment manager."
Another important factor is the flexibility of Linedata Servicesâ offerings. Icon, a complete back-office investment management, administration, portfolio valuation and reporting system, has enjoyed huge success in the past year. There were nine new sales to a diverse range of organisations, ranging from a small friendly society, through to one of the largest deals in the market last year â Capita signed a Â£4m deal to use Icon to support their rapidly expanding fund administration outsourcing business.
In addition, the LongView Trading order management product has achieved a significant global increase in the total number of customers during the year. Other initiatives, such as the Liquidity Partner Programme , have raised LongView Tradingâs global profile. Already well established in the US, Linedata Services is now recognised as one of the leading front office system suppliers in Europe.
2004 also saw the addition of Linedata Compliance, an advanced pre and post trade compliance solution, and Linedata eReport, an enterprise-wide reporting tool, to Linedata Servicesâ product set. The compliance and reporting solutions were received by the market with great interest, already resulting in 4 new customers.
Paul Roberts comments, "These two new components give Linedata Services the flexibility to offer a variety of different solutions, from a full front to back STP solution, to best-of-breed components for ordering, reporting, compliance and settlement."
The task of building a global asset management software business continues to be challenging, with increasing consolidation in the market and reluctance on the part of many fund management organisations to invest in new systems. However, Paul Roberts is optimistic:
"I am thrilled that we have exceeded our divisional target in 2004. We have built up considerable momentum over the past year and we are looking forward to maintaining this in 2005, continuing to build on our successes with all our best-of-breed asset management software solutions."