5 Joined-Up Benefits of Data Management

Asset managers are recognizing the need for effective joined-up data, driven by a number of factors. Most importantly, executive teams know that compliance with a range of regulatory requirements will be reliant on data management.

Joinedup delivers on these expectations by providing asset managers with a consolidated view of all their workforce and client information, in real time. This helps them streamline their processes and build a better business.

1. Access to a global pool of talent

A talent pool is a database of potential employees with the skills and expertise to fill a job opening. This database is a great way to quickly access the right people when you need them.

Moreover, the talent pool can help you reduce your recruitment costs and speed up onboarding. It also helps you cultivate relationships with employees whose skills and expertise align with your organization’s values and competencies.

However, you must ensure that your talent pool is constantly updated and cleansed of irrelevant information. This is important because talent moves quickly and could change their phone number, change jobs or get another qualification.

Companies are constantly shifting their business strategies, whether it’s a global pandemic, new local regulations, or changes in technology. Having the ability to adapt to these challenges is essential for business survival.

2. Real-time visibility

Real-time visibility is a crucial business management tool that allows companies to track their products’ locations. It helps reduce the risk of product loss or damage.

In addition, real-time tracking can help businesses avoid unnecessary shipments, minimize inventory shortages and shipping delays, and optimize their workforce for efficiency.

Additionally, it can help shippers save money by reducing freight transportation costs and accessorials.

Having visibility in the supply chain also helps to improve customer service, especially in times of disruption. For example, if customers report a delay in delivery or that their shipment is not being picked up or delivered, companies can reroute the shipments or expedite orders. This can lead to increased revenue and profit margins.

3. Streamlined processes

Streamlining business processes is one of the most effective ways to achieve operational efficiency in any organization. It enables businesses to save cost and time by automating key business processes, while also reinforcing process adherence.

However, before automating a process using software, it is important to dissect and study it thoroughly. This means mapping out the process visually and tackling redundancies and inefficient steps.

Taking the time to analyze and identify areas for improvement will greatly enhance the quality of your streamlined processes. You may even want to involve people who regularly use the processes you intend to streamline, to get their feedback and insights.

4. Improved compliance

Regulatory compliance is a key part of any good governance strategy. It enables companies to remain compliant with the relevant laws and regulations and helps avoid significant financial penalties and fines, reducing risk and boosting business reputation.

Having the right policies, procedures and processes in place is vital to maintaining a high standard of compliance. These can be tailored to the company’s particular requirements and should be communicated clearly and regularly.

The most effective way to ensure that people understand the compliance expectations of their job is by creating ownership and fostering trust between staff and compliance officers. This can be done by providing training and support that’s tailored to their needs and allowing them to ask for advice whenever they need it.

5. Reduced costs

When you join a club or organization, you become part of an instant community with shared interests and goals. This is beneficial for your social life and can lead to long-term friendships. Moreover, joining a student group can help you learn more about yourself and your strengths so that you can better pursue your career. For Banmai Huynh ’24, the Bentley Asian Students Association provided her with positive connections that have lasted her entire college career.

Despite the huge co-benefits associated with joinedup action on climate and air pollution, decision-makers often address these two issues separately, which can result in a blinkered policy-making approach. This briefing paper explores the key elements that governments should implement to jointly advance these goals, including coordinating institutions, aligning national climate and SDG-relevant targets, mainstreaming both agendas into policy planning, optimizing financial resources, and building mutually reinforcing monitoring and reporting frameworks.