LONDON, Feb. 24, 2016 /PRNewswire/ -- SimCorp, a leading provider of investment management solutions and services for the global financial services industry, has announced that Genesis Investment Management (Genesis) has selected SimCorp's end-to-end client communications and reporting suite, SimCorp Coric, to replace the firm's incumbent client reporting automation solution.
Genesis joins the rapidly growing number of investment management firms deploying SimCorp Coric as a cloud-based solution, hosted on Microsoft Azure, to reduce total cost of ownership and accelerate implementation timescales.
The deployment of SimCorp Coric was accomplished in record time, within 16 weeks, culminating in the issue-free production of over 700 unique reports in December 2015. The time taken to complete one client reporting process has reduced from 6 hours to just 10 minutes due to the extent of automation that is possible with SimCorp Coric. This reporting process integrates fully with Genesis' CRM system and data warehouse, and SimCorp Coric dashboards are used to monitor distribution.
The decision to implement SimCorp Coric is part of Genesis' ongoing commitment to client service and to providing clients with highly personalized, accurate, and consistent client reports in a timely manner. In doing so, Genesis has significantly reduced the manual effort required to generate, validate, and distribute client reports, without IT involvement.
Jens Moller-Butcher, Chief Operating Officer at Genesis, said: "At Genesis we are 100% focused on achieving the investment goals of our clients. SimCorp Coric has helped us minimize the technological challenges and risk associated with the client reporting process, and our choice of the Azure-based hosted infrastructure has injected simplicity and speed into our reporting environment. SimCorp Coric has enabled us to refine our workflow processes and as a result achieve more than 40% improvement in system performance, which means we can improve our focus on consistently delivering quality reports to clients."
Stuart Keeler, Managing Director at SimCorp Coric, said: "We are delighted that Genesis has found SimCorp Coric to be the best match for their client reporting automation requirements and very much look forward to supporting the business in the future."
Enquiries regarding this announcement should be addressed to:
Anders Crillesen, SimCorp Corporate Communications, +45 2779 1286
SimCorp provides integrated, best-in-class investment management solutions to the world's leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, and sovereign wealth funds. Whether deployed on premise or as an ASP solution, its core system, SimCorp Dimension, supports the entire investment value chain and range of instruments, all based on a market-leading IBOR. SimCorp invests more than 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on NASDAQ Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.
About Genesis Investment Management
Established in 1989, Genesis is a specialist investment management firm which focuses on investment in emerging market equities for institutional investors. They believe that superior long-term investment returns in emerging market equities are delivered by identifying underpriced companies through their own independent research and disciplined analysis, and using a bottom-up investment approach to create a diversified portfolio.