Accounting weaknesses threaten product launches
SimCorp, a provider of investment management software and services, has published a White Paper commissioned from Woodbine Associated that warns of outdated accounting platform compromising buy-side firms’ ability to meet compliance, detect fraud, and provide correct portfolio valuations.
This combination of factors means investment managers may not be able to adjust their positions fast enough in the current volatile environment, SimCorp warns.
However, the use of legacy systems is also holding back the launch of new products, with managers subject to delays of more than a month in certain cases.
SimCorp said recent industry polls pointed to more than half of buy-side actors stating they are not confident in the accuracy of their present accounting systems.
Click here to read the full White Paper: http://www.simcorp.com/Home/Campaignsites/Investment-Accounting-white-paper.aspx