The Rapid Adoption of Managed Services in Asia
Michelle Wong explains why managed services are proving to be so popular among Asian investment firms intent on improving their data management capabilities
Michelle Wong, Lead Manager, Client Service
Over the last 12 months, I have met with investors across Asia, including both asset managers and asset owners. One common thread spanning those conversations has been the automation of data management processes, but this focus on achieving greater efficiency is no different than any other region. The preferred path, however, is unique as many APAC firms have been keen to augment their operating model with managed services and less inclined to either build their own proprietary data management solution or utilise a third-party system to facilitate the move away from spreadsheets.
Until fairly recently, investment organisations in APAC have been able to meet their investment and operational data needs using Excel alone, relying on manual processes and adding headcount when necessary as the business grows. However, rising employment costs undermine the feasibility of that approach, particularly as the growing demand for data, within the organisation and externally, highlights the need for workflow automation.