Staffware, a business process automation company, has improved the performance measurement of investment portfolios at Deutsche Asset Management (DeAM).
Staffware has been implemented by DeAM to achieve key objectives including improved service levels to internal customers, increased transparency of the Performance Department`s workload, objective analysis of the achievement of service level targets, and prioritisation of work to ensure deadlines are met.
Says Mark Ehmke, managing director of Staffware SA: " We are delighted that Staffware has been selected by DeAM, which is one of the world`s top five asset management companies, to automate core performance measurement processes. The project, which was implemented in only eight weeks and had to justify itself against the option to develop an internal bespoke system, illustrates the speed and flexibility of Staffware`s design and deployment capabilities. Furthermore, as DeAM`s own staff led the project, it means they now have practical experience in Staffware, which bodes well for other uses of Staffware within their organisation."
Peter Ellis, director of performance and business consulting, Deutsche Asset Management, commented: "We chose Staffware because of their reputation with other companies within Deutsche Bank AG, ease of use of the software and the ability of the organisation to understand the challenges we faced. Staffware has significantly improved the way we support the investment and client servicing processes to the extent that we are already starting to reap the long-term benefits.
Ellis continues: "Staffware has not only improved the speed and quality of the service we provide to our internal customers, it has also provided us with visibility of our workload to enable our department to run more like a business. This enhanced professional environment will undoubtedly provide our customers with a visibly better level of service."
Investment managers have to measure the performance of investment portfolios against benchmarks so they can establish the value added by individual investment decisions. These decisions are made based on information provided to investment managers by the Performance Department. Client managers visit clients to explain the value added by DeAM`s investment management processes. The Performance Department has the job of providing complex analyses of investment decisions taken on some 1 800 investment portfolios. Staffware handles the process of delivering responses to queries from investment managers and client managers relating to the results of these analyses.
Future plans are already in place to provide fund managers with an intranet front-end, providing a fully automated browser-based service to the internal customers of the Performance Department. The key benefits Staffware has brought to the Performance Department include:
. Management reporting
. Visibility of workload
. Improved level of service to internal clients
. More control of the entire process
. Prioritisation of tasks in hand, ensuring deadlines are met
. Consistent quality of performance
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