Alternative Investments are a rapidly growing asset class for investment managers, but they are also complex and challenging to manage, whichever investment management platform is being used. For firms using SimCorp Dimension® the Alternative Investment Manager module provides an opportunity to manage Alternatives on one integrated system. This is an attractive option for many but not always achievable as organisations often do not have the resources with the required domain knowledge and technical expertise of the SimCorp Dimension (SCD) Alternative Investment module.

To help firms maximise their investment in the platform we have created the SCD Al Manager Implementation Service. The service uses our AxxeleratorTM methodology and is designed by the Axxsys team of highly skilled industry professionals who have extensive experience of large scale SimCorp Dimension projects including the Alternatives Investment Manager module. Our team will ensure that Alternatives are fully integrated in SimCorp Dimension, all associated processes and workflows.

Axxsys™ Approach

Our flexible engagement model is tailored to the needs of the business. It can be deployed for the whole project or at any point in the implementation process, whether that be in the design, execution, or post implementation process. Our service is based on the Axxsys Axxelerator™ methodology that incorporates a detailed set of tools, templates and best practices optimised to deliver an efficient and cost-effective implementation of the Alternative Investment Manager module.

We take pride in understanding the client needs and challenges with their existing setup and their requirement for a future and more scalable integrated platform. Our experienced consultants help design the new target operating model, incorporating the Alternative Investment Manager module, that will deliver a high degree of flexibility, enable innovation and improve operational efficiency, allowing firms to adapt to market changes and embrace investment opportunities.

We will work with the client’s team, and the vendor where necessary, to develop a four phased plan to implement the new target operating model:

Evaluation: Carry out detailed analysis of the current state to identify system gaps well as within the organisational setup.

Preparation: Design an operational structure which ensures the organisation achieves the desired benefits from the new setup in SCD and at the same time mitigate operational risk and provide transparency of all alternative investments. In addition, we help the client with data cleansing and simplifying data structures where required to support the goal of a scalable and flexible setup.

Implementation: Execution is delivered within a strong project management framework which provides transparency and clear communications throughout the project based on detailed project plans developed and agreed with all stakeholders. The plan will include facilitating User Acceptance Testing (UAT) of all integrations both up- and downstream, troubleshooting as required and regular status reporting to management.

Post Implementation: Ensure all relevant staff are fully trained to run the new installation and all processes and workflows are properly documented. Ongoing support is also available if required. Our goal is to ensure the transition from legacy setup to future setup runs efficiently, as expected and is business ready.

Using our Alternative Investment Manager Implementation Service will ensure that Alternative Investments are fully integrated and a natural part of the set up in SimCorp Dimension with no workarounds.

The ongoing management of a complex investment management platform such as SimCorp Dimension® (SCD) is a significant and important undertaking for organisations to ensure they achieve the expected return from their technology investment. This is the case with a new implementation or an established installation. Examples of ongoing operational challenges could be production issues, different levels of change requests or ensuring relevant staff are sufficiently trained to use the platform. All of these impact the ability of the firm to optimise operations and gain full value from the platform. These are often referred to as Day 2 issues and packed into a change backlog and handed to IT to fix, but in many cases there isn’t sufficient resources available in the business to focus on these changes, resources that need a good understanding of the business and the platform.

To support an organisations ability to deliver efficient and effective operational support, Axxsys have designed the SimCorp Dimension Backlog Remediation and Operational Support Service to specifically tackle this backlog and to allow the firm to self manage the platform. The result is the organisation is in a much stronger position to fully utilise the benefits of the platform to grow the business and have the flexibility to be able to respond to market changes efficiently.

Axxsys™ Approach

Our flexible engagement model is tailored to the needs of the business and is based on the Axxsys Axxelerator™ methodology that incorporates a detailed set of tools, templates and best practices optimised to deliver an efficient and cost-effective service to our clients.

We work closely with our clients to fully understand their needs and challenges with their post implementation support, whether that is around backlog remediation or ongoing operational support. Our SimCorp Dimension Backlog Remediation and Operational Support Service, developed by highly skilled and knowledgeable consultants, is based on 4 typical phases:

Discovery & Baseline

• Establish a clean baseline of all day 2 issues, categorising each item as either a defect, change request or production issue
• Identify early quick wins and start delivering immediate value
• Align the Axxsys consultants expertise with individual team members or functions to ensure a cohesive approach

Remediation Strategy & Plan

• Develop a detailed strategy and plan, introduction of ‘best practice’ on how to deliver the backlog changes, identifying common solutions and design patterns
• Embed tailored training with the backlog fixes to ensure internal teams are up-skilled to use SCD and future maintenance

Quick Wins & Quality Assurance Improvements

• Accelerate delivery of quick wins and start implementing more complex backlog solutions
• Enhance the internal QA and deployment process ensuring all changes are business ready and fit for purpose

Backlog Fix & Operational Support

• Augment the existing IT and Operations support team for on-going maintenance, issue resolution and future changes

As the markets leading independent SimCorp Dimension® consultancy, managing migrations has been a core part of our business for a number of years and is built on a strong team of highly skilled industry professionals with detailed knowledge of SimCorp Dimension. We have worked with data migration driven by green field implementations of SimCorp Dimension, mergers as well as consolidation of internal applications. We have developed a model that manages data migrations from start to finish and can be tailored to meet the specific needs of the clients business. We understand the wide ranging impact across the organisation of a major systems migration and recognise the project must be business driven, while considering the SimCorp Dimension configuration, core businesses processes, data structure and the data available from the legacy applications.

Axxsys™ Approach

We provide a flexible engagement model that is tailored to the needs of the business. It can be deployed for the whole project or at any point in the migration process. We are driven by the firms strategic objectives and our goal is to ensure the business achieves the expected benefits from the project.

Determining the scope of the project is key to delivering a successful migration, this includes:

• Definition of scope and strategy for System Migration as a whole
• Definition of scope and approach for Data Migration
• Assignment of business and technical resources
• Hardware setup and software installation
• Configuration of SimCorp Dimension
• Creation of reference and static datasets specific to the client
• Compliance with Internal and External Audit documentation requirements
• Go-Live Plan with full Runbook for the new platform

Our service is based on the Axxsys Axxelerator methodology. Our SimCorp Dimension Migration Axxelerator incorporates a detailed workflow and comprehensive range of activities that manage the migration from start to finish.

There are three distinct phases of the data migration workflow:

Discovery: A Toolset provides a high-level framework which can be easily customised to address the needs of the client.
Playbook: Overall plan for the data migration process, outlining all project tasks and providing indicative timescales for each.
Runbook: Detailed plan of the go-live activities, records progress as the migration moves towards becoming business ready.

For investment managers, delivering accurate and timely NAV data into the organisation is critical for the business. With pressure from strict publication deadlines, it becomes particularly challenging to ensure NAV accuracy and timeliness across a wide range of funds. Processes need to ensure operational efficiency, as well as a demonstrable level of control. The cost of NAV errors can be significant both in reputational damage and compensation to investors.

With this backdrop we have developed our NAV Optimisation Service specifically for users of SimCorp Dimension, based on our AxxeleratorTM Methodology. The Axxsys team are highly skilled industry professionals with detailed knowledge of SimCorp Dimension and have worked on multiple NAV Optimisation projects in the UK, Mainland Europe and North America. Our team focus on a deep dive analysis of processes and workflows to identify areas of improvement in running times and error resolution times.

AxxsysTM Approach

We provide a flexible engagement model that is tailored to the needs of the business. It can be deployed for the whole project or at any point in the NAV Optimisation process. Our service is based on the Axxsys Axxelerator™ methodology that incorporates a detailed set of tools, templates and optimised operational processes to deliver accurate production of start of day NAV data.

Working with the client’s business and technology teams we set up a series of cross-functional and workstream aligned workshops to examine the business process flows identifying pain points and blockages. We also carry out a deep dive analysis of the SimCorp Dimension NAV configurations. The outcome of the workshops and the system review is a series of detailed recommendations and a plan for their implementation.

Our proven methodology is based on two distinct phases which will determine the design of the final solution:

Preparation

Onsite / Remote workshops with business and technology representatives to walk-through the following areas:

• Daily Operations and Runbook
• Review of process dependencies and sequences
• Review of common mistakes and inconsistencies
• Pre-NAV SL Dashboard
• Daily NAV Workflow
• Market Data Validation
• NAV Calculation

Deep Analysis & Solutions Identified

• Analyse relevant processes, data areas and infrastructure
• Analyse list of findings including pain points and process dependencies
• Online / offline analysis of key SCD configuration items
• Analysis of recorded exceptions, errors and execution time for Batch and STP processes
• Recommendations benchmarked against experience from previous SCD engagements
• System performance tests designed and executed to establish the viability of proposed NAV optimisation changes
• Delivery of recommendations, including costed implementation plan for the proposed changes

Accurate measurement and reporting of investment decisions is a fundamental prerequisite for managers of financial portfolios. Requirements for performance and attribution reporting are driven by asset owners and regulators, and the investment managers themselves also need proper ex-post analysis tools to gauge and tune their investment decision processes. For SimCorp Dimension® users, the Performance Manager has the capabilities to manage these requirements, but firms often do not have the available resources with the level of specialist performance knowledge together with technical expertise of SimCorp Dimension (SCD) to benefit fully from the system.

For firms faced with this predicament we have developed the SimCorp Dimension Performance Measurement and Attribution Service. The service has been created by our highly skilled consultants with detailed knowledge of the benefits from using the modelling concepts in SCD and understanding key dependencies such as Portfolio Structures, Valuation, Static Data, Compliance, Investment Structures, Modelling concepts and NAV calculations. Our team will deliver a ‘best in class’ Performance Measurement and Attribution solution that will ensure organisations achieve full benefit from their technology investment.

Axxsys™ Approach

Our flexible engagement model is tailored to the needs of the business. It can be deployed for the whole project or at any point in the implementation process, whether that be in the review, design or execution process. Our service is based on the Axxsys Axxelerator™ methodology that incorporates a detailed set of tools, templates and best practices optimised to deliver an efficient and cost-effective Performance Measurement and Attribution process in the organisation.

We work closely with the client to understand their needs and challenges and complete a thorough review of the existing system to identify any gaps, pain points or areas of potential improvement. The review covers performance calculations, valuations, measurements and attribution. In addition we complete a review of any benchmarks that have been established and also adherence to GIPS requirements where relevant. There would also be a focus on the key data components around market data, static data and regulatory data and include reviewing dependencies on external systems (e.g. Factset, Bloomberg, Blackrock Aladdin, Broadridge, StatPro).

The analysis would also extend to important areas such as:

• Ensuring there is maximum consistency (with explainable differences) between NAV reporting and performance reporting
• Best Practice design for external and internal performance and reporting frameworks

Additional consideration in the review would focus on the end-user experience for:

• Middle Office
• Front Office
• Senior Management
• Client Managers & Clients
• Sales (GIPS)
• Other external reporting requirements

Axxsys would present a report of recommendations, including a ‘proof of concept’ if required, before taking to full production after thorough QA testing from our consultants with specialist knowledge of performance & attribution.

As the markets leading independent SimCorp Dimension® consultancy, we have been managing major upgrades at investment management organisations around the world for over 15 years. Working with the most recent release of the investment management platform has obvious benefits but major upgrades consume staff and systems resource and in many cases firms do not have the skilled resources available to manage the upgrade, which are often complex projects affecting many parts of the business. The Axxsys team are highly skilled industry professionals with detailed knowledge of SimCorp Dimension and have worked on many upgrade projects in the UK, Europe and North America. We have developed a robust Upgrade Service which help our clients to realise the benefits from the new release, with minimum of effort and cost, and creates a standardised framework for future upgrades. Our SimCorp Dimension Upgrade Axxelerator is proven to enhance upgrade times and efficiency and ensure upgrade continuity for the future.

Axxsys™ Approach

We provide a flexible engagement model tailored to the needs of the business. It can be deployed for the whole project or at any point in the upgrade process. We are driven by the firm’s strategic objectives and our goal, using our unique combination of systems and business knowledge as an independent consultancy, is to ensure the business achieves the expected benefits from the upgrade.

Our service is based on the Axxsys Axxelerator™ methodology. Our SimCorp Dimension Upgrade Axxelerator incorporates a detailed workflow and comprehensive range of activities that manage the upgrade successfully in a timely and cost efficient manner.

In collaboration with the client, and the vendor where required, we develop the upgrade design framework. This ensures we fully understand how the business uses the system across investment operations, which will lead to more efficient testing coverage, reduce unnecessary testing and provide solid justifications for the implemented test cases. The objective is to ensure the framework is designed to deliver a cost efficient and secure upgrade process for the business.

The execution of the upgrade is based on the upgrade design framework. This framework then becomes the standard and is repeatable for future upgrades which for SimCorp Dimension occur at least once a year. The framework will also focus on the implementation of new functionality in the release and ensure business readiness for going live. Using our SimCorp Dimension Upgrade Service creates continuity for future upgrades and provides cost efficiencies with firms already having a proven basis for implementing the new upgrade.