Increasing Accuracy and Efficiency is Top 2012 Business Objective, According to Bonaire Client Survey

New York - 20 June 2012

  • 84% of respondents cited increasing efficiency and accuracy as their top business objective in 2012
  • 50% of respondents highlighted ‘minimizing fee leakage and improving accuracy’ as the most difficult challenge for an organization to overcome
  • 1/3 state that data consistency across business units is biggest challenge in expense management

Bonaire Software Solutions, LLC (Bonaire), a leading provider of software solutions for asset managers, mutual funds and capital market firms, today announced the results of a survey designed to gauge their clients’ most pressing operational concerns and objectives.

Conducted at the Bonaire annual North American user conference, the poll reveals that the investment management industry is largely focused on efficiency, with 84% of respondents citing increasing efficiency and accuracy as their primary objective.

Fee leakage continues to be a pressing challenge for firms as many still rely on Excel spreadsheets and manual processes for fee billing. Bonaire’s survey results reveal that the most difficult challenge for organizations to overcome is ‘minimizing fee leakage and improving accuracy,’ with 50% of respondents citing this as the top obstacle.

Additional survey results include:

  • Nearly 50% cite data management as the biggest fund distributor rebate invoicing and reconciliation challenge.
  • ‘Consolidating data from various systems’ (37%) and ‘inefficient processes’ (35.3%) are top company challenges in reporting revenue.
  • 56% of users of Bonaire REVPORT software, which enables asset managers to accurately capture and monitor data and reduce operational costs and to decrease billing cycles, say that the technology has already made a tangible impact to their profitability.
  • 1/3 state that data inconsistency across business units is the biggest challenge in expense management.

“The survey results show us that there is still a tremendous need in the industry for automation and efficiency,” comments Christopher John, CEO of Bonaire. “What’s clear is that the investment management industry needs to continue adopting the processes and technology required to truly address the fee leakage challenge and ensure revenue and expense management is accurate, particularly in light of current and proposed regulations.”

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