The Smart List: SimCorp shifts delivery model from product to managed service
Investment management company leverages the cloud to move from traditional software sales and support to managed service provider
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SimCorp provides investment management software solutions to more than 200 clients around the world. When market trends and client demand prompted SimCorp to shift its delivery model from a product to a service, SimCorp responded with a solution that uses IBM Cloud and IBM managed cloud services to deliver the end-to-end service as well as to support the company’s global growth strategy.
SimCorp VP Product Division Christoffer de Maré, SimCorp Global Operations Manager Pernille Kjærgaard Dahlberg, and IBM Services Client Partner Executive Lisbet Madsen discuss SimCorp’s transformation journey.
What is SimCorp’s business + technology vision?
Pernille: Our clients are in the financial industry, which requires a high level of security and compliance. Availability is another crucial point, so we have to have a stable infrastructure. In recent years, we’ve seen clients asking for a managed service solution that doesn’t require them to deal with the full IT stack, so we set out to create something that allows clients to focus on their own business rather than on maintaining a system.
Christoffer: We’re on a journey to becoming a managed service provider, and a big part of that journey is all about automation. It’s the ease of doing business. It’s a matter of making sure the clients can do as much as they can themselves.
How have you gone about bringing that vision to life?
Pernille: We worked with IBM to develop SimCorp Dimension as a Service, an investment management solution and fully managed service. We’re also using IBM Cloud, which makes it possible to spin up client environments much faster than we have seen in the past.
Lisbet: We started with design, working with SimCorp to develop a standardized, automated, fully managed service. SimCorp clients deliver data to the authorities on a daily basis, so the availability of the system had to be very high. We built a solution where we have a dedicated environment for each client.
What does “building smarter business with technology” mean to SimCorp?
Christoffer: It’s a change in the environment. We’ve developed self-service modules and automation models, so the client doesn’t necessarily need to call us to request the service. Everything comes from a self-service portal where clients can go in and order whatever they need.
Pernille: The scalability and the process framework that we have established makes it easier to grow our business. Onboarding new clients and maintaining existing clients is easier when we have a global way of working. IBM is supporting SimCorp in this global way of working.
What’s next for SimCorp?
Pernille: We want to heighten the levels of automation and self-service, and we want to be able to scale it together [with IBM].
Christoffer: We also see a lot of interest from existing clients that want to migrate from software on-premises to go into the cloud world. This is only the beginning.