A large majority of investment management firms are likely to increase their headcounts during 2013 to support information strategy, research by buy-side consultancy Investit has revealed.
The research has shown that information managers are challenged with controlling data stored is different physical locations as businesses globalize, and 64 percent of firms are adding more staff to meet this evolving demand.
Firms are also said to be looking at outsourced services to access highly specialized staff and produce higher-quality results.
"As an industry, we realize that the complexity of information management will persist as a significant and costly challenge," says Dave Reynolds, principal at Investit. "To remain competitive, firms will need a robust information strategy and a strong, dedicated ─ though perhaps not captive ─ team to execute it. Firms we've worked with that have an established information management function, have improved compliance and greater efficiency in their processes, and are reaping rewards in cost savings and effective delivery of information, creating greater insight into opportunities to increase revenue."
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