The Covid- 19 pandemic continues to accelerate change and digitalisation at a pace that didn’t seem possible just six months ago. Traditional ways of working changed overnight with the digital estate of industry organisations undergoing a serious stress test in the intervening months. The result has been a reordering of priorities.
Recent surveys reveal that digitalisation is now the number one priority for many asset managers. It is viewed as an essential pathway to continued growth and expansion. Digitalisation and technology are helping to revolutionise risk management and operational efficiency allowing asset managers to devote more time to their core business. The ability to manage large data volumes and high data velocity is becoming a prerequisite. A new way of working and a new operating culture are now evolving at speed, both of which will be talent and technology led.
Digitalisation is also a hot topic of conversation amongst our own clients. It has become central to their working lives. Board meetings, conferences and recruitment now take place digitally and virtually. Time and cost savings are evident but new challenges are also emerging in trying to replicate face to face communication, connections and networking. Leading, managing and ensuring the ongoing wellbeing of staff working remotely also requires an adjusting of skill sets. Cyber-security is also now a key concern in terms of managing extremely sensitive client and market data through home broadband.
In Carne these changes are resulting in an uplift in demand for our technology and risk driven solutions from managers who want to accelerate their digital agendas. Delegating certain data management and business services to specialists is allowing managers to strengthen systems and processes as well as providing them with access to technological tools and management information that may not otherwise be readily available. The industry was always moving towards a talent and technology enabled operating world, but our clients are telling us that this pandemic is forcing a rapid acceleration of that digital transformation.
Find out more about our risk and technology driven solution, CORR.