Five common misconceptions about Data as a Service

For many buy-side firms, data management is an expensive and time-consuming function that offers little differentiation. That’s why more investment managers are turning to Data as a Service (DaaS). Yet, there are still some common misconceptions about the managed service approach to market and reference data management. Do any of these obstacles sound familiar?

Why future-proof a model that isn’t broken?

While your current data management model may be “working fine”, is it scalable and agile enough to support your long-term business goals? Does it empower your data talent to spend their time generating insights, or are they too busy processing and maintaining the data to focus on the bigger picture? Change is always daunting, but can you really afford to do nothing?

It will take a long time to implement…

Contrary to some EDM systems, getting onboard with Data as a Service needn’t become a multi-year science project. With SimCorp Data Management Services, you can expect to be up and running in just a few short months, without ever having to worry about underlying software or tech changes.

It’s expensive…

Opportunity cost is the real budget drain. Market and reference data is essentially a commodity, so why is your top talent spending time processing data when they could be focusing on higher value tasks that drive competitive advantage? By partnering with a specialist provider like SimCorp, you benefit from the significant economies of scale that a Data as a Service model can provide.

We’ll lose control of our data…

SimCorp’s Data Management Services provide full transparency with end-to-end data lineage and audit trails for each record. You remain in complete control of your data and can be confident in its quality to drive accurate decision-making.

It will take away my job

When you bring in a service provider, people initially start fearing for their jobs. It’s understandable. SimCorp's Data Management Services supports your talent so they can focus on the type of work that adds value to the organization and makes their day more enjoyable.

Want to learn more about SimCorp Data Management Services?

Far too often, the advantage that reliable and accurate data can provide is undermined by the reality of the effort in administrating it. But not with SimCorp...