The investment management industry – which relies on efficient processes and interdependent digital technology platforms to remain competitive – must keep pace with the perpetual rapid changes to industry standards and requirements and the technology that governs them. The latest innovations could be in any number of arenas: business processes, machine learning, artificial intelligence or blockchain to name a few. Adopting change is compulsory – lions and tigers and bears, oh my! The variables for a firm to consider include:
* Identifying the current drivers to implement changes
* Choosing the ‘right’ next changes considering the drivers
* Optimizing the implementation of the changes by using Agile methodology
Enlisting qualified strategic consulting partners can be instrumental in successfully spending smart instead of spending big when firms seek to maximize their front-to-back efficiency.
by Joshua B. Levitt, Principal