Data Governance and Client Reporting

February 22, 2012

Recently there was an interesting post on the site “Data Quality Matters…”  by Jeff Willems about the importance of “timely, accurate and ultimately reliable information” as a key enabler to service excellence (click here for access to the entire blog).   Many of the opinions in this post coincide with a PORTIA blog posted last year, The Importance of Reporting, where we discuss how high quality reporting can help differentiate asset managers and ultimately win clients. 

Jeff Willems discusses many points that match what we hear from our clients and prospects, complete and reliable information will help exceed clients’ expectation and win business.  Accurate reporting has always been essential but it is becoming increasingly important as the regulatory environment heats up and there is a continued demand for transparency from regulators and clients alike. 

What stood out to me in this post was the importance he put on “data governance”.  While quality, clear and easy to read reporting is a key requirement, the accuracy of the reporting is equally if not more important.  Presenting error free data the first time provides a client the assurance that the information used for decision making is based on the cleanest data.  This kind of precision is only possible with the appropriate data governance systems in place.

At PORTIA, we think the data governance is a significant aspect to client and management reporting.  The newest version of PORTIA eReports, our client-presentation reporting tool, includes a robust automated workflow module that allows each organization to integrate the proper checks and balances into all their reporting processes;  ensuring accurate data, appropriate review and consistent monitoring.   While this level of control is vital to client reporting, there is concern that this extra scrutiny and process will add time to delivery.  I would argue that by automating and monitoring the process, businesses could actually increase the timeliness of delivery.  By building SLA’s into the process and monitoring the workflow, bottlenecks can be quickly identified and resolved in a timely fashion.

As clients are getting more sophisticated and demanding, client reporting has become a key requirement and can be an important differentiator in the highly competitive asset management market.  You need the right tools and processes in place to meet and exceed the expectations of your clients and win new customers.

Are your clients demanding more from your client reports?  Do the reporting tools you use help you provide for this? 

 – Damon Schrotberger,  Senior Sales Consultant

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