When it comes to revenue and expense management, the investment management industry is fragmented and in need of a major overhaul, according to a recent survey of EMEA investment managers by Bonaire Software Solutions.
Specifically, 67% of respondents cited data consistency across business units as one of their biggest challenges with expense management. According to the survey, accounting staff members within asset management shops are challenged with disconnected business units and paying vendor invoices without having the chance to validate fees. As a result, investment firms lack confidence in the accuracy of their payments. The poll revealed that over half (57%) confessed to a lack of confidence in paying out distributor rebates.