Genesis Investment Management extends partnership with Simcorp
UK-based Genesis Investment Management, a long-standing customer of Simcorp, has implemented the vendor’s client communication and reporting solution, Coric. The system has been deployed on an outsourced basis, hosted on the Microsoft Azure cloud. According to Simcorp, the project was completed in four months.
As the result, the client reporting efficiency has improved by more than 40%, claims Simcorp.
It now takes just ten minutes to produce one client report, down from six hours in the legacy solution that Simcorp Coric has ousted. The process integrates fully with Genesis’ CRM and data warehouse software, and the new dashboards are used to monitor the distribution. Coric also connects to the back office system, Simcorp Dimension. Genesis has been using this solution for many years.
Jens Moller-Butcher, COO at Genesis, is pleased with the result. “Simcorp Coric has helped us minimise the technological challenges and risk associated with the client reporting process,” he says. “Our choice of the Azure-based hosted infrastructure has injected simplicity and speed into our reporting environment.”
Simcorp Coric: where does it come from?
The Coric solution stems from a London-based company, Equipos, which was purchased by Simcorp in early 2014 for €10 million.
The two companies had a long-standing partnership by then. The Coric Client Communications Suite was already brought into the Simcorp portfolio, marketed and sold as Simcorp Dimension Report Book Manager.
At the time of the acquisition, Equipos had around 70 Coric clients, in the institutional asset management and private wealth sectors. Prior to the deal, Simcorp held a 20% stake in Equipos’ share capital.
Simcorp intended to offer Coric both on a standalone basis and fully integrated with its middle-to-back office system, Simcorp Dimension.
Klaus Andersen, regional MD at Simcorp at the time, was appointed to lead the Simcorp Coric business. Stuart Keeler, who joined the firm from another UK-based software vendor, eFront, replaced Andersen last month.