Investit, the leading fund management consultancy, has developed the industry's first service to assess the quality and performance of investment management companies' business processes.
This builds on the success and experience gained through five years of running the Investit Intelligence IT Value Survey.
Investit has designed Business Process Assessment (BPA) to address the needs of Chief Operating Officers (COOs) of investment managers. It enables them to identify where their firm's business processes deliver value and where resources might be better allocated to best meet business goals. BPA also highlights competitive advantages by comparing value delivered with that of peers.
"When evaluating business processes, investment management companies tend to focus on cost and volume. But this does not help them understand the value each business process delivers or how much value their clients, internal or external, receive," said John Robertshaw, Principal at Investit. "Until now, COOs haven't had the tools to do this."
BPA addresses this problem by showing where and how each business process delivers value and measures that value. In addition, by providing a benchmark of value for each business process, BPA allows an effective comparison against the performance of peers.
Investit's team works closely with clients to ensure an objective, consistent and clear service. The team follows a structured process:
- Assess the value each process delivers from different viewpoints across the company.
- Assess the resource consumed by each process to deliver this value.
- Identify where and how efficiently value is delivered to achieve business goals.
- Highlight competitive advantages through peer group benchmarking.
"BPA has already proved popular," said Robertshaw, "In fact, we developed BPA in response to serious demand from investment management clients and we have a number of major investment management companies involved in the launch. While various other industry surveys focus on cost and volume, BPA is unique. It assesses and compares the value delivered by business processes and is a key management tool to best allocate resource and investment."