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Revitalizing Your Reporting Strategy: Identifying the Right Technology for You and Your Clients

Revitalizing Your Reporting Strategy: Identifying the Right Technology for You and Your Clients


Effective reporting is essential for client retention, but relationship managers are finding themselves stretched thin trying to keep up with client requests by using inefficient manual processes and poor-quality data.

The right technology can solve many of the problems managers face with reporting and data management. Clean, transparent data; automated reporting processes; and tailored client statements are all possible with the right solution.

Reporting Issues: Manual Processes, Disparate Client Requests

Relationship managers revealed many of their common reporting challenges during a panel discussion on June 13, 2019, at TSAM New York (The Summit for Asset Management). Len Randazzo, Asset Management Principal at Clearwater Analytics, served as a panelist along with other industry peers.

The issues the panel discussed include:

  • The use of manual processes has become pervasive in how firms produce reports. Client reporting on a monthly or quarterly basis takes time, with many firms finding that market changes happen fast enough to make the reporting and commentary outdated by the time it’s complete.
  • Firms also face challenges trying to accommodate disparate client requests. Different clients want different reports on different schedules, which makes it impossible for firms for work off of standard templates.
  • End clients struggle to see all of their assets in one place and are often only presented with one, incomplete view of their portfolios.
  • Firms don’t have a way to automate these processes now, but they’re also unsure about finding new reporting strategies. If they do implement a new reporting system, firms want to ensure both their portfolio managers and clients are comfortable with the change.

Good Reporting Needs Good Data

Quality data is an essential component of good reporting, but many firms lack a system that provides what they need.

Many panelists and audience members said they need a system where data is transparent and accessible but accessibility remains a large problem. The data must also be clean, configurable, and have levels of sophistication.

Other important factors are the need for consolidated data in one location and the need for data to be integrated with reporting.

Technology Can Help

There is a movement to technology that can improve data quality and client reporting, and options available to solve the problems relationship managers face.

To get clients on board with changes, managers should employ training and clear communication. There should also be a marketing effort around the benefits of these changes and how it can enhance the client experience.

Getting a clear reporting strategy in place is an essential move to free up time for relationship managers to actually build relationships.


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