WatersTechnology and SmartStream recently conducted an online survey on the current and future shape of the managed services market across the industry. The research underlines the extent to which the quality of the relationship between capital markets firms and their service providers are key to the future development of managed services.
Key findings include:
- The imperatives of future-proofing and operational resilience are driving growth—future-proofing against costly upgrades and implementations is considered the biggest benefit to entering a managed services relationship (41%), followed by improved operational resilience and simplicity (25%).
- The quality of the relationship is key for firms selecting a managed service provider. This is a far more important consideration than pure cost or technology concerns: flexibility and amenability are the most highly valued attributes for capital markets firms when vetting a managed service provider, followed by the provider’s reputation and track record.