Irish Life Investment Managers live on SimCorp Dimension
18 February 2004 | 1365 views | 0
Irish Life Investment Managers (ILIM), one of the largest investment management companies in Ireland with €17.1 billion of assets under management, has gone live with its new investment management system, SimCorp Dimension. It follows the completion of the first and largest phase of the implementation of the system which has enabled ILIM to replace its core investment accounting system and its back office treasury management system.
By the time the third and final phase of the installation is complete, ILIM will have replaced five back office systems with its SimCorp Dimension system. In addition to investment accounting and back office support for its treasury operation, the new system will provide straight through processing and unit pricing across its entire client portfolio as well as full support for its multi-tiered unit fund structures.
"Now that we have gone live, we are aiming to realise some significant benefits," explains Eugene O’Callaghan, chief operating officer for ILIM. "The system has workflow controlled straight through processing based on a single integrated database and has excellent flexibility and functionality to deal with customised fund requirements. This means that data quality will be improved across the whole company and we are aiming to generate outputs much faster.
"We have already seen an improvement in error handling and job management. And in the longer term, we anticipate some head count savings."
The bulk of the implementation of ILIM’s SimCorp Dimension system is due to be completed during 2004.