SimCorp, a leading provider of investment management solutions and services for the global financial services industry, has announced that Genesis Investment Management (Genesis) has selected SimCorp’s end-to-end client communications and reporting suite, SimCorp Coric, to replace the firm’s incumbent client reporting automation solution.
Genesis joins the rapidly growing number of investment management firms deploying SimCorp Coric as a cloud-based solution, hosted on Microsoft Azure, to reduce total cost of ownership and accelerate implementation timescales.
The deployment of SimCorp Coric was accomplished in record time, within 16 weeks, culminating in the issue-free production of over 700 unique reports in December 2015. The time taken to complete one client reporting process has reduced from 6 hours to just 10 minutes due to the extent of automation that is possible with SimCorp Coric. This reporting process integrates fully with Genesis’ CRM system and data warehouse, and SimCorp Coric dashboards are used to monitor distribution.
The decision to implement SimCorp Coric is part of Genesis’ ongoing commitment to client service and to providing clients with highly personalized, accurate, and consistent client reports in a timely manner. In doing so, Genesis has significantly reduced the manual effort required to generate, validate, and distribute client reports, without IT involvement.
Jens Moller-Butcher, Chief Operating Officer at Genesis, said: “At Genesis we are 100% focused on achieving the investment goals of our clients. SimCorp Coric has helped us minimize the technological challenges and risk associated with the client reporting process, and our choice of the Azure-based hosted infrastructure has injected simplicity and speed into our reporting environment. SimCorp Coric has enabled us to refine our workflow processes and as a result achieve more than 40% improvement in system performance, which means we can improve our focus on consistently delivering quality reports to clients.”
Stuart Keeler, Managing Director at SimCorp Coric, said: “We are delighted that Genesis has found SimCorp Coric to be the best match for their client reporting automation requirements and very much look forward to supporting the business in the future.”