SaaS Investment Management Solutions Provider, SimCorp, Partners with Domos FS

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SimCorp, an independent provider of software-as-a-service or SaaS investment management solutions, has formed a partnership with Domos FS, resulting in a “complete front-to-back-office investment management offering covering both public and private markets for asset managers, asset owners and service providers.”

As mentioned in the announcement, the partnership is “further reinforced by SimCorp taking an initial minority stake in Domos FS.”

Christian Kromann, CEO of SimCorp, stated:

“Our clients are increasingly looking for more integrated service offers. Through our partnership with Domos, we are accelerating our move to offer integrated best-in-class technology solutions as a service to our client base. We believe that servicing clients efficiently means relying on and investing in state-of-the-art technology solutions, and our business model is designed to ensure we can offer this through our partner ecosystem. We are excited to join forces with Domos to provide the only truly cross asset front-to-back investment management offering on the market.”

The partnership should allow SimCorp to integrate the Domos General Partner SaaS solution into its partner ecosystem.

As noted in the update, the combination of alternative investment innovations, built by SimCorp for Limited Partners and by Domos for General Partners and fund administrators, “delivers a new solution for clients that will enable them to effectively and efficiently scale their business operations.”

The offering reportedly includes machine learning assisted document processing, intelligent cashflow forecasting, daily exposure calculation, an investor portal, standardized partnership accounting and automated regulatory reporting.

The partnership has been “created in response to the increased use of alternatives in recent years by a wide range of asset managers and asset owners, and the operational challenges this has presented for existing and new investors in these asset classes,” the update revealed.

In particular, the rise of traditional asset managers “investing heavily in private markets has highlighted that legacy tools are often not fit for purpose, as the requirements for front and back-office solutions have evolved rapidly,” the announcement added.

Until now, the market was “missing a complete package to cover the whole fund lifecycle when investing across private and public markets,” the update noted.

Hugues Chabanis, VP, Innovation at SimCorp, remarked:

“Alternatives are now a fundamental part of the asset mix. At SimCorp, we believe in a core platform that serves as the operational backbone for investors, open to some of the best technology and integrated services out there. Underpinned by a great functional and cultural fit, SimCorp and Domos are enabling this industry-first offer to minimize operational friction and improve overall efficiency.”

Accelerated by the COVID 19 pandemic, SimCorp has seen “a clear need from asset managers, asset owners and service providers for better integration and a smoother implementation journey, combined with a need for higher automation, better service levels and ultimately a lower total cost of ownership.”

The joint offer from SimCorp and Domos FS is “a solution to these needs across public and private asset classes,” the announcement noted.

Arnaud Vinciguerra, CEO of Domos FS, added:

“SimCorp is a leader in the buyside market and is recognized as such by its clients. This partnership presents a fantastic opportunity to accelerate our market footprint though a strong collaboration where we have seen a great technology, products and not least a seamless cultural fit.”