CASE STUDY: Third-Party Database Management

Third Party Database Management

CASE STUDY: Third-Party Database Management

Keeping manager databases updated and current is a critical marketing function for asset managers as investors use the databases for benchmarking, a new mandate search and identifying new managers. There are several databases – some 3rd party and some consultant owned, some regional vs. some global, and often split by asset classes and product types (institutional vs. retail). Asset managers need to ensure that all of these databases are updated on a regular frequency. With a growing product lineup, frequency of updates, number of databases to update, and growing number of datapoints, the complexities of maintaining multitude of product profiles across many third-party consultant databases including eVestment, Mercer, Wilshire Compass, Callan, Camaradata, HFRI is significant. 

For one of our asset manager clients, before adopting DiligenceVault, this process was manually-intensive and laborious, with the database questions (and current answers) needing to be outputted and converted into MS Word and Excel, sent to the product team for input, have said Word file sent back to the database team, and then manually inputted into each respective consultant’s database. A lack of auditability compounded the challenge. 

Read how adopting a tech platform like DiligenceVault enabled this asset management firm and helped them develop a more streamlined process to get the right information into the right databases quickly and efficiently.

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