NEARLY 90 % OF RESPONDENTS BELIEVE DIGITAL TRANSFORMATION WILL ENHANCE OPERATIONAL EFFICIENCY, YET FEWER THAN ONE-THIRD( 28 %) SAY IT IS BROADLY SUPPORTED WITHIN THEIR ORGANISATIONS AND ONE IN 10 INDICATED NO SUPPORT FROM THEIR ORGANISATION.
INDUSTRY WATCH
NEARLY 90 % OF RESPONDENTS BELIEVE DIGITAL TRANSFORMATION WILL ENHANCE OPERATIONAL EFFICIENCY, YET FEWER THAN ONE-THIRD( 28 %) SAY IT IS BROADLY SUPPORTED WITHIN THEIR ORGANISATIONS AND ONE IN 10 INDICATED NO SUPPORT FROM THEIR ORGANISATION.
uncertainty persists,” said Audrey Costabile, Senior Analyst, Crisil Coalition Greenwich.
Digital transformation has become increasingly prominent in today’ s volatile market and data-driven environment as record-breaking trade volumes place business leaders and operations teams under increased pressure. Manual processes are still prevalent across both buy-side and sell-side firms, who are keen to remove manual tasks that create data and workflow roadblocks for increased productivity and output.
Xceptor has revealed findings from a new report conducted in partnership with Crisil Coalition Greenwich, Operational efficiency is driving digital transformation in capital markets. The report reveals how firms across the capital markets landscape are rethinking their operational strategies in response to growing complexity, rising trade volumes, and evolving regulatory demands.
The study surveyed over 70 C-suite and senior leaders from capital markets firms across the UK, Europe, Asia Pacific and North America. It offers a clear view into how firms are responding to rapidly changing data requirements and where the biggest opportunities for transformation lie.
“ Despite several benefits of digital transformation to improve workflow efficiency, many participants are taking more time to invest in these resources and legacy practices prevail. Our study uncovers hard dollar costs to holding out on adoption, which are set to increase as data volumes continue to grow and market
Key findings include:
• Efficiency is the top priority: Nearly 90 % of respondents believe digital transformation will enhance operational efficiency, yet fewer than onethird( 28 %) say it is broadly supported within their organisations and one in 10 indicated no support from their organisation.
• Barriers persist: Legacy systems( 57 %), cost concerns( 56 %) and manual data entry( 39 %) are the most often cited obstacles.
• Data is driving change: Improving data capture and transformation is a top focus, with 57 % of firms planning to invest in workflow automation within the next year and 58 % of firms already having done so in the past twelve months.
• Multiple tools lead to siloed systems: Up to five different platforms are used to cover asset classes, with 95 % of respondents saying that no single platform can cover them all, leading to disjointed workflows and data silos.
• Middle-and back-office are still heavy on manual processes: Manual intervention continues
www. intelligentcio. com INTELLIGENTCIO EUROPE 67