Outdated technology means asset management companies are struggling to create and maintain a wide range of digital content, including fund fact sheets and product profiles, say researchers.
The difficulties extend to commentaries, pitch books, financial reports, and more, said Quark Software, which presents its research at the TSAM conference in London today.
Content teams struggle to effectively produce and provide multi-channel information to internal and external audiences, Gavin Drake, vice president of marketing for Quark Software said.
“The way we consume content has changed dramatically in the past decade, but the tools financial services firms use to create and manage content have changed very little. This makes it almost impossible to keep up with the demand to deliver timely and accurate multi-channel content, which is a requirement for firms that aim to stay competitive.”
Almost three quarters of asset management companies were dissatisfied with their digital content capabilities, with more than 50% of respondents having no confidence in the consistency of their content across print, web, and mobile channels.
Just over 60% said they find it hard to manage document variations and changes needed to support country and business unit requirements. This is because the vast majority of asset management companies rely on shared or local file systems to manage their business-critical content.
Over 80% of respondents to the Quark poll said their customers wanted more web content and/or more mobile content.
Quark said it polled teams from asset management firms, though the number of respondents was not given.
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