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SimCorp, a leading provider of investment management software and services for the global financial services industry, today announced an upcoming webinar on
June 14, 2012. The webinar will focus on the importance of accounting systems, especially the risks tied to out-of-date platforms, including inaccurate valuation and reporting on client accounts; inability to calculate performance and exposure across all holdings; compliance breaches; failure to detect fraud and other significant operational errors that could damage a firm’s reputation.
The webinar, entitled “
The Business Case for Replacing Legacy Accounting Systems,” will feature Sean Owens, Woodbine Associates’ Director of Fixed Income Research and Consulting, and Sevgi Eason, Sales Manager for SimCorp North America. The event will be moderated by David Kubersky, Managing Director for SimCorp North America.
In a recent survey of 100 executives from 58 buy-side firms across Canada and the US, over
56% of respondents admitted that they are
not confident that their current accounting systems can accurately record all the events in the transaction lifecycle, including those related to OTC derivatives.
“Even though industry confidence is low in the current systems in place, there is inertia for change,” comments Matt Samelson, Principal at Woodbine Associates, the Stamford, CT-based consulting firm. “While it is a significant undertaking to replace the heart of record-keeping, what choice do we have if we want to equip our firms with the infrastructure needed to be successful?”
The webinar will also discuss:
The impact of legacy accounting systems on time-to-market for new products and new market entry
Market dynamics such as regulatory reform and the Euro currency crisis that will initiate technology platform changes
How to build the business case to justify technology improvements in accounting systems
“Investment managers face tremendous pressure to drive alpha and our focus is always on how technology can enable alpha generation,” comments David Kubersky, Managing Director for SimCorp North America. “Firms often overlook accounting systems – however, these are fundamental areas of the buy-side enterprise that can deliver solid ROI. This is why we facilitate these online seminars where industry practitioners come together to provoke thought, pose hard questions and provide inspiration. We want to foster dialogue around how firms can leverage technology where it matters most.”