ManCoTech – A definition
ManCoTech (Management Company Technology) is a term used to describe technologies that may facilitate the delivery of regulatory requirements more efficiently and effectively than existing capabilities for management companies. In simple terms, it refers to any technology that efficiently supports Management Companies in their day-to-day compliance activities.
Not to contradict the opening line of this blog, but ManCoTech is also far more than just the latest “buzzword” in the industry. Following the progression of FinTech and RegTech, ManCoTech represents the latest advancement in technology to support Management companies in meeting growing competition and ever-changing regulatory developments.
A new way to do things…
For a long time ManCos have been reluctant or significantly slower to adopt technology than their counterparts in other areas of the industry – even today, a large proportion of ManCos still complete many tasks manually or through office tools.
Growing competition, ever-changing regulatory developments and increased regulatory scrutiny have increased the pressure on ManCos. ManCos are expected to continue to deliver exceptional services, whilst adding even more value year on year. Meanwhile, clients are also questioning the size of their bills whilst also wanting to reduce risks. This leaves ManCos in the position of having to deliver more with less. The net result is that staff at Management Companies, even at relatively senior levels, are monopolised on delivering basic essentials. This means less time for these highly skilled individuals to support the strategic imperative of the business.
Completing tasks manually is no longer an acceptable practice – it is inefficient and a compliance risk!
Whilst several solutions exist to tackle different aspects of the compliance requirements of ManCos, until now, there has been no holistic integrated model that can fully assist ManCos with their everyday compliance needs. The Funds-Axis ManCoTech plugs this gap with an overarching technology solution that intelligently combines solutions and technologies to support ManCos.
Benefits of ManCoTech
There are many measurable benefits of implementing ManCoTech, including:
- Increased operational efficiency
- Improved data quality
- Reduction in risk of manual intervention
- Data quality insights
- Increased confidence in reporting
- Scalability
- Cost reductions through manual process elimination and automation
- Increased productivity through automation of extensive manual tasks with more precision by using an around-the-clock digital workforce
- Technical and business data quality rules to identify data issues prior to reporting
- More time spent on value-add activities
Our ManCoTech
With ManCos under pressure from clients and regulators, automated technology can provide a solution.
The Funds-Axis ManCoTech platform enables Management Companies to replace legacy systems with next generation technology providing greater efficiencies on a daily basis.
Our user-friendly ManCoTech solution provides Management companies on one flexible and scalable online platform with:
Our ManCoTech also provides ManCos with the agility to meet current and future regulatory requirements across multiple jurisdictions on a single platform.
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