Financial software provider Vermilion has gone live with a leading Australian investment manager. Earlier this year the firm inked a deal with Nikko Asset Management. What are they doing right?
With offices in Singapore and Sydney, Vermilion has been steadily building a portfolio of new clients in the APAC region including hedge funds, real estate investment firms, private banks, wealth managers and institutional asset managers.
In their latest deal Vermilion has integrated existing data sources, customised workflow and automated the re-use of data to create a more streamlined reporting solution for Magellan Asset Management (Magellan).
Best of Breed
Based in Sydney, Magellan manages global equities and global infrastructure strategies for high net worth, retail and institutional investors. The main operating subsidiary of Magellan Financial Group, which is listed on the Australian Securities Exchange, Magellan has funds under management of more than AUD$42 billion as at 31 May 2016.
«This win is extremely significant for Vermilion’s continued growth within Australia. The selection represents a growing interest and demand within the region for best-of-breed software vendors, as opposed to more expensive and time-consuming in-house system builds,» said Simon Cornwell, Global Sales and Marketing Director at Vermilion
Data Warehouse
The partnership enables Magellan to automate the production of marketing material including factsheets and PowerPoint presentations, at varying frequencies, for its client base. The process will significantly reduce the time taken to produce this material at the end of the month end or quarter.
In addition to licensing the Vermilion Reporting Suite, Magellan will also have access to Vermilion’s Data Mart – a ‘virtual data warehouse’ that reduces the expense of development and administration associated with traditional repository architecture. By using the Data Mart, Magellan’s client reporting operation now draws from a single source of data rather than multiple sources.
