As asset management businesses become increasingly acquisitive, it becomes imperative that their financial systems landscapes are appropriately architected.
Acquisitions will be simplified if the acquirer’s systems landscape is agile, and this can be achieved through implementation of leading practice integration and data solutions. Similarly, reference data management solutions can accelerate the process of expanding changing accounting structures, and accounting hubs can speed consumption of new accounting events.
Migration of solutions to The Cloud will offer all of the above capabilities, and make solutions more elastic and expansible. It will also create the opportunity to consolidate systems, standardise and simplify processes and conform data structures, while reducing infrastructure, support and future upgrade costs.
Cloud solutions offer leading edge technologies, such as Optical Character Recognition, Natural Language Generation, Mobile access, collaboration, advanced analytics and visualisation. Noting the trend in the Asset Management industry, though, they can also accommodate the most complex of multi-GAAP, multi-country and multi-currency accounting operations, the establishment of service companies and centres of excellence, and global intercompany, tax, transfer pricing and regulatory regimes.
Finally, the CFO can deploy multiple strategies to integration, immediately migrating the acquired entity to the Group ERP, or creating an interim connection through consolidation or reporting solutions. Alternatively, Deloitte offer an intermediate SuperLedger approach, that gives many of the benefits of immediate migration, with a more phased transition of integrations, local accounting and sub-ledger processes.
For more information, contact Richard Cole, Tony Gaughan, Mark Crilly or Christian Hagman.
Ten titans that each oversee more than $5tn will emerge as the asset management industry’s dominant players by the end of the decade as size becomes a critical driver of success for investment companies globally. Only half of the fund industry’s current asset management companies will still exist by 2030 following a massive escalation in mergers and acquisitions activity, according to Piper Sandler, a Minneapolis-based investment bank, which has advised on more than 80 asset management deals worth more than $50bn.