FROM: Don Pierce, Chief Investment Officer
SUBJECT: Informational: Cordatius Records Management Project Update
RECOMMENDATION:
title
Investment Records Management Project Update.
body
BACKGROUND:
The Board approved an update to the triennial strategic plan that identified an investment document integration portal as a strategic priority with the goal of automating the transfer and storage of key documents for compliance documents, investment proposals, performance reports, capital statements, and other important correspondence. As part of that initiative, the investment department began exploring different approaches to meeting this strategic goal. It became clear that the document management and enterprise content vendor landscape was vast with numerous solution providers. As a result, we concluded that a Request for Qualifications (RFQ) for technology consulting would allow the investment staff to leverage an expert in the technology space while also evaluating the investment department's existing workflow and technology platform. The result of that RFQ was the selection of Cordatius.
The investment department laid out two major issues it was trying to solve:
1. Automate document retrieval from investment manager portals that use multi-factor authentication protocols.
2. Organize investment information from investment manager presentations and investment staff's notes into a single location that has robust search features.
Working with Cordatius, we agreed with their recommended approach using a modular best-in-class vendor selection methodology as the right one for this project. Cordatius' refinement to our original identified issue was not only to identify our current state but additionally provide a path to a future state that understands technology adoption is a step-by-step iterative process and that by delineating the functional aspects of our records (collect, organize, extract, store, and report), each technology function can be ab...
Click here for full text