We started Adox Research with a straightforward idea: to focus on data, insight, and action. We think firms that are taking the risk of investing in new technologies need all three.
Data without insight is just a numbers game - spreadsheets cannot tell you what to do. Insight without data is just someone’s opinion - at best interesting but probably irrelevant. Without action, data and insight in isolation leads to analysis for its own sake, and does not deliver the simple things that firms want and need. Winning new business. Reducing costs. Keeping customers happy, and staying on the right side of industry rules.
That is why we are delivering our research on budgets, priorities, value and risk under the banner of “Follow the Money” – we start with real budgets, real buyers, the real decisions and trade-offs they are making, and try and make sense of the detail and the trends for our membership.
Our lens is the cost, efficiency and effectiveness of automation across the entire trade lifecycle. We start from a straightforward starting point: we believe that automation is the most effective way to deliver that flexible, cost-effective, customer centric and compliant operating model that firms are pursuing. The direct and indirect costs of low automation is felt across the trade lifecycle. Keeping larger than necessary trade support and back office teams in place, disappointing customers, counter parties and regulators with errors, delays, extra costs and missed opportunities.
We have just published our first 2017 Follow the Money Insights, and had the opportunity to present some of the early findings during a webinar hosted by SimCorp. The session focused on front office IT, and in particular Order Management Systems, Portfolio Modelling and Risk Analytics. The familiar challenges of legacy automation, fragmented data and low organisational maturity are given new urgency by the data we collected, and the real life impact on firms ability to succeed.
KEY DATA POINTS
80% of respondents agree that at least 10% of inbound data needs fixing before it can be used in a business application
17% of respondents are saying that more than a fifth of data needs work
close to 40% of core investment and operational data is spread across 10 or more databases.