What Should The Fund Office Spend on Technology?
Author: Casey Sirotnak
For today’s fund office, making the correct decisions about technology investments are mission-critical. To help provide context and uncover answers about how funds make decisions about IT initiatives and how much to spend, MIDIOR launched the Study of Public and Taft Hartley Fund Operations. Now in its third year, we’ve seen tremendous interest from funds of all sizes in how their peers are managing similar challenges. I would like to invite you to take 10 minutes out of your busy schedule to participate in MIDIOR’s 2016 Study:
Although we call this blog “The Modern Fund Office”, for many Taft Hartley and Public Funds, this moniker is an oxymoron. Many fund administrators find their systems outdated and business processes becoming more complicated as they struggle to keep up with regulatory changes and burgeoning member data. In order to bridge the gap between escalating expectations and fragile infrastructure, greater focus on information technology is needed. Our clients tell us they lack a frame of reference for how much to budget for improvement to technology and operations, both in terms of people and infrastructure. MIDIOR’s Study of Public and Taft Hartley Fund Operations may provide helpful context as it covers topics that include:
- Staffing levels and roles for the IT department
- Meaningful metrics used to evaluate fund performance
- Reporting to trustees and the management team
- In-house versus outsourced technology and functions
Feel free to to download MIDIOR’s 2015 report to compare how your fund operates on these key dimensions. We encourage you to contribute your insights and expand our knowledge base for 2016 by participating in this year’s research. All responses remain anonymous and we’ll be happy to share the study results with you by year-end.