Case Study

The Challenge

Research information is often provided as part of a full service brokerage agreement. Separately, there is a growing demand for specialist, subscriber based research which is provided via niche companies. Overall, research continues to be an expensive cost of doing business. So how can you measure its performance and worth to the business? Why pay thousands of $ for research or subscription fees when much of the information remains unread?

Altana Wealth is one asset manager that found it was able to reduce trading costs by 9% and total Email IT disk space costs by 35% within 60 days of starting to use the Mereus service. In addition, they understand what information their analysts were using to make decisions.

Project

As part of a regular business review Altana Wealth were looking for operational and IT improvements across the business. It was clear that Research information plays a central part in their business but the starting point came from needing to understand which research providers and analysts provided the best reports and hence delivered most value to Altana Wealth. COO, Antony Lingard, found this difficult data to easily obtain. Together with IT, he initiated a project to provide these answers.

Altana created a formal review process to compare “Research Management Systems” for the best solution to meet their needs. Several other software companies offered capable RMS packages but did not provide a quantitative method to measure research usage in the same way as Mereus. Additionally Mereus was easy to set up and use. Delivered as a Cloud solution, it required no additional IT investment or resource to deploy. From commercial agreement to go live, i.e. measuring Research firm wide, took less than 24 hours.

Once live, Altana found that 93% of research documents remained unread and in many cases these were delivered to a significant number of end users. The impact was twofold. Firstly, expensive research remained unused and secondly, multiple copies of the same reports were being held for each user in live, disaster recovery and back-up server sites, increasing IT overhead and cost. They also discovered that over half of their 29 research providers had document open rates of less than 5% and that only one had an open rate of greater than 50%.

Antony Lingard, Altana Wealth COO, commented “I have been impressed by the Mereus product. We can now see where Research makes a difference to the business by quantifying the total Research read and identifying the leading providers and analysts. The value of Research providers has become very clear. In some cases we have renegotiated broker agreements and overall operational costs have significantly reduced. Our IT Email operational costs were reduced by 35% within 2 months of ‘go-live’.

 

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