City Compass, a London-based consultancy, say that it will benchmark corporate actions systems.
“There are now well over 20 vendors claiming to provide corporate actions automation software and it has recently become apparent that the confusion in the market can only be solved by an independent research project that provides end-users with a realistic benchmark,” says the company.
City Compass will also host a “corporate actions benchmarking day” on Tuesday 24th June 2003.The aim of the event is to help companies wishing to select a corporate actions solution to decipher which vendors provide which type of solution in an increasingly complicated market.
The company says corporate actions automation vendors are currently completing a questionnaire that will enable an independent panel of industry experts to assess and benchmark their solutions. The panel consists of Richard Cato of HSBC, Geoff Dix of UBS Warburg, John Wilson of City IQ, John Waters an Independent Consultant, Rupa Mazumder from DrKW and Ian Harrison of Barings Asset Management.
“Through this corporate actions event we will provide an open forum where delegates can hear an honest account of what the vendors’ products actually can do for them,” says Gary Wright, a City Compass Director. “The user panel will be presenting what they believe are the key features of a CA system and, for the first time, establish a benchmark for vendors to aspire to. In addition to presentations from the vendors, delegates will be able to hear speeches from a number of leading lights in the industry like Iain Saville.”.
City Compass was founded by five operations professionals in May 2000.