The investment management industry is experiencing a period of unprecedented change. The move towards a global market, coupled with a sharp increase in operating costs and a more sophisticated and demanding client base, is forcing investment managers to change traditional working practices. The ability to provide a comprehensive range of quality client services, supported by innovative technology within a stable infrastructure, is the key to success.
Old Mutual Asset Managers (OMAM) has become the first asset manager in South Africa to produce and deliver a full range of comprehensive reports electronically to its clients, consultants and intermediaries. To meet the client reporting service challenge, OMAM has implemented Socrates - an electronic report publishing system. The advanced publishing features incorporated into Socrates Portfolio Reporting have made it a leading choice with asset managers at the forefront of client service.
Says OMAM`s Client Reporting Manager, Anne Williams: "OMAM recognised that alongside performance, client service is the key criteria by which asset managers are judged. Well designed and personalised reports, delivered in a convenient and timely manner, present a professional image and assist in making the investment process more understandable. "
Socrates capitalises on the evolution of the Internet, a critical medium for delivering improvements in service quality. The Internet provides advances in speed, flexibility and security. To satisfy the client demand for detailed and timely reports, OMAM has extended their web-site by adding a new client service section. Here, clients have secure access to their monthly and quarterly reports, published by Socrates, as well as an array of other investment related information. Importantly, Socrates supports multiple languages which are essential for OMAM`s Afrikaans speaking clients. This multi-language facility allows for reporting in international currencies. Such service is critical as OMAM develops in the global marketplace where improved response times and long distance support are key.
Having recently gone live and produced the first period`s reports, Old Mutual Asset Managers is extremely satisfied with the results. Williams says there is no doubt that Socrates has improved the capability of OMAM quite dramatically in its quest to deliver world class client service.
As a result of process automation, the improvements extend far beyond client service. Williams explains further:
"Very significantly, the routine production and distribution of monthly and quarterly client reports will be less time consuming - allowing us to both increase the number of funds per administrator and, at the same time, improve the capacity of those administrators to add value to their clients. Thus, we are in a good position to demonstrate the financial pay back on our investment after just a few months of routine operation."
Currently, OMAM has offices in South Africa, the United Kingdom, the United States, Bermuda, Namibia, Kenya , Botswana and Zimbabwe and manages and advises on approximately R260 billion of investment assets globally.
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