UK-based asset manger Genesis Investment Management has implemented SimCorp’s end-to-end client communications and reporting suite, SimCorp Coric, to replace its existing client reporting automation solution.

This system has been deployed as a cloud-based solution, hosted on the Microsoft Azure cloud and helps to reduce total cost of ownership and speed up implementation timescales.

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The implementation of SimCorp Coric has been completed within 16 weeks resulting in the issue-free production of over 700 unique reports in December 2015.

This deployment will reduce the time taken to complete one client reporting process from 6 hours to just 10 minutes.

Simcorp claims that the this reporting process integrates fully with Genesis’ CRM system and data warehouse, and SimCorp Coric dashboards are used to monitor distribution.

This move is part of Genesis’ ongoing commitment to client service and to providing clients with highly personalized, accurate, and consistent client reports in a timely manner.

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The decision to implement SimCorp Coric has enabled Genesis to significantly reduce the manual effort required to generate, validate, and distribute client reports, without IT involvement.

Genesis chief operating officer Jens Moller-Butcher said: "At Genesis we are 100% focused on achieving the investment goals of our clients. SimCorp Coric has helped us minimize the technological challenges and risk associated with the client reporting process, and our choice of the Azure-based hosted infrastructure has injected simplicity and speed into our reporting environment.

"SimCorp Coric has enabled us to refine our workflow processes and as a result achieve more than 40% improvement in system performance, which means we can improve our focus on consistently delivering quality reports to clients."