Buy-side firms keen to automate manual processes are finding it difficult to identify areas for transformation because they are tied to legacy systems that are costly to replace. A survey of 100 companies in north America by asset management software provider SimCorp found that just over half identified automation as a top priority as they strive for greater efficiencies. Fixed-income trading and collateral management are now partly automated, however, corporate actions and alternative investments remain manual, and further automation is proving a challenge. "It is very difficult to achieve automation across numerous, disparate legacy platforms," said Marc Mallett, vice-president of product at SimCorp InvestOps in north America.
Buy-side firms keen to automate manual processes are finding it difficult to identify areas for transformation because they are tied to legacy systems that are costly to replace. A survey of 100 companies in north America by asset management software provider SimCorp InvestOps found that just over half identified automation as a top priority as they strive for greater efficiencies. Fixed-income trading and collateral management are now partly automated, however, corporate actions and alternative investments remain manual, and further automation is proving a challenge. "It is very difficult to achieve automation across numerous, disparate legacy platforms," said Marc Mallett, vice-president of product at SimCorp in north America.