Implementing a new investment compliance software package comes with various challenges. In my opinion, there are two main keys to a successful implementation; proper planning and representation. The most difficult part of the implementation is the planning and design phase. Collecting requirements is a standardized process; everyone knows the “what”, but the “how” is where many projects get derailed. Here’s where getting experienced help is going to give you better foresight and sound recommendations on how to get it done.
Also, projects where the investment compliance team has a specific advocate for their portion of the project are much more likely to complete on time, within budget, and with their requirements satisfied. Having an advocate that understands (and loves) the ins and outs of compliance will be well worth your investment.