Asset owners face several challenges in their document and data management processes, like data accuracy, document storage, data collection and lack of uniformity in the material received from their investment managers. Each year, a portfolio with 100 private investments receives on average 4,000 documents from fund managers. Investors want details on their investments and expect transparency and security from their managers. This leaves asset owners dealing with a steady stream of unstructured data. Proper document management is the first step in delivering critical data to support all investment functions.
Inefficient document management can create delays throughout the entire process. When information comes in from a manager, asset allocators want to use that information for analysis and other actions as quickly as possible. Inadequate search functions within a document repository create further obstacles. Ideally, you should be able to efficiently pull all documents related to a particular manager or date range.
Artificial intelligence (AI) and Robotic Processing Automation (RPA) are powerful tools for document management. A well-designed framework should be able to fetch unstructured data from multiple sources, determine the contents and aggregate the data. Natural Language Processing should be trained over millions of documents and able to identify exceptions for users to review. This relieves the burden and risk factors of manually entering data.
With SS&C’s Document and Data Management Solutions for Asset Allocators, you can use artificial intelligence to digitize the unstructured data you receive from managers and turn bespoke analysis into actionable information quickly and efficiently. Consolidate the information from various portals with an email inbox connectivity system to access third-party portals and retrieve documents. The centralized document repository allows you to categorize and store all investment-related documents in one place, with a configurable dashboard to track those documents. Finally, with our operational service support and round-the-clock processing, portfolio accountants reconcile and review all activity to ensure accurate treatment.
To learn more about how to address document management challenges, watch our "Improving Document Management to Optimize Investment Operations" webinar.
