Until recently, asset allocators were presented with two categories of research management tools 1) all-in-one platforms that try to solve for portfolio management, analytics, research, and CRM functions and 2) single-purpose research tools that historically have been siloed, on-premise solutions.
Research management software (RMS) has significantly evolved over the past several years, with many vendors now offering best-of-breed, more intuitive, and open API access RMS solutions. This software evolution is prompting many asset allocators to take a step back and strategically review their existing tools in place to determine if they are effectively meeting the firm's needs.
With a lot of great software and services out there, it can be overwhelming to select the right solution that will satisfy your team's needs and operating goals.
This guide aims to help research teams at asset owners, LPs and allocators assess their existing tools and determine if they are effectively meeting their needs, gather employee feedback and identify goals for the new software, and search for and interview software providers ensuring all their needs are met.
We know that this might seem daunting at first, but we've compiled industry statistics, best practices, and insightful tips and tricks that will be sure to help you out no matter what stage you're in with your new RMS solution search.
We encourage you to share this list of resources with your team, figure out what your RMS needs are, and develop your own search and selection process:
- Looking for a New Research Management Software? Here's Where You Should Start: A fool-proof plan for identifying your RMS needs and defining what success means to your team.
- Why You Should Consider Best-of-Breed Software: Learn about the latest trend in the asset allocator world: best-of-breed software solutions. Many firms are opting for best-of-breed portfolio management, research, analytics, and accounting software over all-in-one software suites for reasons like their ability to best support each team's unique workflows and connect and share data with other platforms via APIs.
- 3 Common Mistakes to Avoid When Searching for a New RMS: Keep your RMS search focused and efficient by avoiding these common, time-wasting mistakes.
- The 9 Key Topics to Cover in Any RMS Demo: Get the most out of your RMS demos and evaluate platforms consistently across these 9 key topics.
- 10 Questions You Should Ask During a RMS Reference Call: The 10 critical questions to ask in any RMS reference call, from features and functionality to pricing and configuration.