Apex Cuts Data Cost of Acquisitions
The fund administrator is halfway through a project to eliminate duplicative data spend across its core business and acquisitions, reducing costs while consolidating sourcing to a core base of vendor relationships.
Bermuda-based fund administrator Apex Fund Services has slashed data spend by between 30 and 40 percent by deploying a central data management platform and implementing processes to monitor data usage and eliminate duplication of data sourcing.
The move was driven by an acquisition spree that has seen Apex snap up eight companies over recent years—each of which had different data providers, contract terms and sourcing strategies—and is designed to eliminate duplicative costs, as well as leave
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