We’re thrilled to announce our partnership with Narrative Science. This is a first for the asset management industry – enabling firms to fully automate the writing of portfolio commentary and embed this capability directly within a client reporting suite. I recently sat down with Narrative Science’s COO, Nick Beil, to discuss why this joint integration is such a momentous milestone. Here is a snapshot of our conversation.
Nick: Both Narrative Science and Vermilion are dedicated to helping their clients improve communications with their key stakeholders so clearly this partnership makes sense, but from your viewpoint, what made it click for you?
Ben: In our experience, the commentary creation process, as a function of the client reporting lifecycle, has traditionally been a major headache for asset managers in their attempt to improve time-to-market or increase scalability of the business. While Vermilion is able to automate all of the other steps in the process, the critical step of commentary contribution relies very heavily on the availability of an over-burdened, small team of contributors who are trying to keep up with demand as best they can. As the book of business expands and the needs of the investor grow, these teams are often unable to maintain time-to-market. With this partnership, Narrative Science brings the missing piece of the puzzle to the table and allows both firms to offer the first truly automated, end-to-end solution for asset managers.
Nick: What do you think are the key benefits of the integration? In addition, your team often speaks of the importance of understanding ROI during the buying cycle. How would do you measure the value of this integration?
Ben: I think one of the more compelling pieces of the integration is that we are offering two very powerful tools to a client communications team through a single, cohesive interface allowing for an efficient and consistent end-to-end experience. User experience is critical to the content creator and with this offering we have made that a key priority.
In terms of the RoI, we are in exciting new territory here. Adopters of this integrated solution will have the ability, for the first time, to reduce time-to-market via this elusive step within the overall workflow. Asset managers that take advantage of this integration will, I am sure, raise the bar for prompt and comprehensive client service.
Nick: From a workflow standpoint, how would an asset manager leverage this new capability in your reporting suite?
Ben: Although there will be some customization in the product to suit individual clients, Quill will be embedded directly within the VRS application, therefore it will be closely integrated with an asset manager’s existing workflows.
Nick: This is very exciting and we look forward to working with such a well-respected leader in the industry.
Ben: We can’t wait for the asset management community to get a close-up look at your technology and couldn’t be more thrilled to be a partner that helps share that experience.