Every industry has its Achilles' heel. For fund administrators, it's issues with data integrity and the lack of automation of key operations, such as expense processing. In terms of fund expenses, there is more to think about than advisor fee justification and distribution fee compliance. There are other problems that are potentially worse under the surface.

A recent survey by Confluence asked fund industry professionals "what is the one back-office challenge that concerns them the most on a daily basis?" The top answers: 29% reported lack of automation of key operations and 24% identified data integrity issues.

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