MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, May 7, 2007 DST to Unveil Data Management Offering at ICI DST Systems, provider of information processing and computer software products and services to mutual funds, will unveil its latest offering at the ICI conference. DST will conduct an interactive demonstration of SalesConnect, a data management and CRM solution, at the ICI General Membership Conference in Washington, D.C this week. DST Systems, Inc. will unveil its much anticipated DST SalesConnect(TM) data management and CRM solution this week at the ICI General Membership Conference in Washington, D.C. An interactive demonstration at the DST booth (301/303) will illustrate how the solution virtually eliminates the redundant data reconciliation processes fund firms undergo every day to maintain accurate dealer and representative data. The SalesConnect solution features a central repository of firm, office and representative information that systematically matches trades coming into DST's shareholder recordkeeping platform, TA2000(R), to the correct representative. In addition to trades coming through TA2000, SalesConnect can accept client transactions that originate from other platforms, including feeds from omnibus or third-party providers. DST SalesConnect also provides a data interface with a hosted CRM component, which displays this reconciled firm, office and representative data in a context that supports the initiatives of the distribution team. The database has typically provided a systematic match rate of more than 98 percent. The issue of managing and tracking representative-level information has far-reaching effects on how fund companies do business. On the fund distribution side, sales professionals require this data in order to best manage their distributor relationships. On the operations side, back office teams keep track of the representatives selling their funds in order to manage issues such as market timing and account information security. "With the velocity of change in the broker representative population, it has always been difficult for fund complexes to keep their representative data up to date. In fact, significant resources are applied to this process across the industry," said Doug Anderson, senior vice president, Delaware Investments. "This also represents an arduous task for the brokerage firms, to keep fund complexes supplied with the data they need. When an industry leader like DST can supply a 'one stop shop' for such data, it benefits both sides. This solution should help to reduce costs and supply more accurate and timely information." By accessing a single source of information, participating fund companies can significantly streamline their efforts to maintain data integrity while improving productivity and service. Further, the more fund companies that participate in the solution, the greater the benefit for the industry. "One significant value of this solution lies in the synergy created by the participation of multiple fund companies and the scale that DST can accommodate," said Tom Schmidt, vice president, DST Systems. "Once a representative does business with any of the participating fund companies, that representative's information is reconciled and updated in the universal database. As other fund families submit trades, they benefit from the firm, office and rep data previously provided." DST Systems, Inc. provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, insurance and healthcare industries. In addition to technology products and services, DST provides integrated print and electronic statement and billing output solutions through a wholly owned subsidiary. DST's world-class data centers provide technology infrastructure support for mutual fund companies, healthcare providers, banks, mortgage bankers and insurance companies around the globe. DST is headquartered in Kansas City, Mo., and is a publicly traded company on the New York Stock Exchange. The information and comments above may include forward-looking statements respecting DST and its businesses. Such information and comments are based on DST's views as of today, and actual actions or results could differ. There could be a number of factors affecting future actions or results, including those set forth in DST's latest periodic financial report (Form 10-K or 10-Q) filed with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking comment. The Company will not update any forward-looking statements in this press release to reflect future events. Source: DST Systems, Inc. Printed from: MFWire.com/story.asp?s=14309 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |