Thinking about an RMS? Key Features in a Research Management System to look for

Asset management is a fiercely competitive industry, where information, speed, and precision often determine success. Firms with a complex investment research process need more than spreadsheets and static databases; they require an intelligent Research Management System (RMS) that serves as the backbone for collaboration, analysis, and decision-making. In this blog, we’ll explore the key features in a Research Management System to prioritise when looking to support a rigorous, team-wide investment research process.

Why Choosing the right Research Management System Matters

Choosing the right research management system (RMS) is a critical decision that influences the efficiency, collaboration, and quality of the investment processes. A well-suited RMS streamlines workflows, centralises data, enhances decision-making through analytics, and ensures compliance with automated record-keeping. It also adapts to growth and evolving strategies, serving as a strategic enabler for superior investment outcomes.

Research Management Systems differ by provider, with varying strengths and weaknesses. Here are 10 criteria to help evaluate what’s on offer.

1. Centralised Investment Data Platform for Seamless Collaboration

Investment research involves gathering information from diverse sources, such as financial reports, market data, ESG insights, and macroeconomic analyses. A robust RMS must centralise this data within a unified repository, ensuring accessibility and traceability.

Key Considerations:

• Integration with Data Providers: The RMS should integrate seamlessly with key data sources such as Bloomberg, Refinitiv, FactSet, and ESG data platforms.
• Document Management: Analysts and portfolio managers require a system that securely stores and categorises research notes, meeting records, and financial models.
• Search and Retrieval: A powerful search function, equipped with filters, tags, and keyword recognition, is essential for quickly retrieving relevant information.

By centralising data, an RMS breaks down silos, ensuring every team member has access to the same insights and can collaborate effectively.

2. Workflow Customisation and Flexibility

Every asset management firm operates according to its unique investment philosophy and research process. An RMS should align with these workflows rather than impose rigid structures.

Key Features:

• Customisable Workflows: The RMS should enable firms to define bespoke stages for idea generation, research, peer review, portfolio construction, and post-investment monitoring.
• Role-Based Permissions: Different team members—analysts, portfolio managers, and ESG specialists—require distinct access levels and workflows.
• Adaptability: As investment strategies evolve, the system must be flexible enough to accommodate new processes, criteria, or asset classes.

A customisable system ensures the RMS remains relevant, no matter how complex or dynamic the research process becomes.

3. Robust ESG Integration

As ESG (Environmental, Social, and Governance) considerations increasingly influence investment decisions, an RMS must provide deep support for ESG data collection, analysis, and reporting.

Critical Capabilities:

• Integration with ESG Data Providers: The RMS should incorporate ESG ratings, company disclosures, and third-party insights into the research process.
• Scoring Models and Custom Metrics: Firms should be able to create proprietary ESG scoring systems tailored to their investment philosophy.
• Compliance and Reporting: The RMS must facilitate the production of ESG compliance reports to meet regulatory and client expectations.

A system with strong ESG capabilities ensures firms remain competitive in a market where sustainability is becoming a key driver of investment performance.

4. Collaboration and Knowledge Sharing

Investment research is rarely a solo endeavour. Teams need tools that foster collaboration across geographies, time zones, and departments.

Essential Features:

• Real-Time Collaboration: Support for simultaneous updates, annotations, and reviews on shared research documents.
• Version Control: Clear tracking of changes to ensure the integrity and accuracy of research materials.
• Commenting and Feedback Mechanisms: The ability to tag colleagues and request input directly within the system.

By promoting knowledge sharing, the RMS helps firms harness collective expertise, leading to more informed investment decisions.

5. Advanced Portfolio Analytics and Insights

Modern RMS solutions must move beyond static data storage to offer advanced analytics that provide deeper insights into investment opportunities.

Desirable Features:

• Financial Modelling and Scenario Analysis: Tools that allow users to model different market scenarios and understand their potential impact on investment outcomes.
• Historical Data and Trend Analysis: The ability to analyse past performance, industry trends, and historical valuations.
• AI-Powered Recommendations: Machine learning algorithms that identify patterns or highlight potential investment ideas based on historical success rates.

These analytics not only enhance decision-making but also give asset managers a competitive edge in an increasingly data-driven industry.

6. Comprehensive Compliance and Audit Trails

Asset management is a highly regulated industry, and compliance is non-negotiable. An RMS must help firms maintain a robust audit trail and adhere to all relevant regulations.

Key Compliance Features:

• Automated Record-Keeping: The RMS should automatically log every action, from research updates to investment decisions, creating a tamper-proof audit trail.
• Regulatory Reporting: Support for generating reports that comply with local and international regulations, such as MiFID II or FCA requirements.
• User Permissions and Access Logs: Detailed records of who accessed or modified data, ensuring accountability and reducing compliance risks.

With these features, firms can demonstrate transparency and integrity, both internally and to regulators.

7. Integration with Existing Tools

A new RMS should enhance—not disrupt—existing workflows by integrating seamlessly with the tools and platforms already in use.

Important Integrations:

• Document Management Systems: Integration with tools such as Google Workspace or Microsoft 365 ensures continuity in document creation and sharing.
• Project Management Tools: Linking with platforms such as JIRA or Confluence can improve collaboration and task tracking.
• Portfolio Management Systems: A connection with portfolio management tools enables smoother transitions from research to execution.

By aligning with existing systems, an RMS minimises the learning curve and maximises adoption across the team.

8. Scalability and Performance

An RMS should be designed to scale with the firm as it grows, both in terms of user base and data complexity.

Considerations for Scalability:

• Cloud-Based Architecture: Cloud solutions offer superior scalability, reliability, and accessibility compared to on-premise systems.
• High Performance: The system should handle large datasets, multiple users, and complex queries without lag or downtime.
• Future-Proofing: The vendor’s roadmap should include regular updates to accommodate emerging technologies and trends.

Scalability ensures the RMS remains a long-term asset for the firm, even as operations expand.

9. Mobile Accessibility

In an industry where decisions often need to be made on the go, mobile accessibility is crucial.

Mobile-Friendly Features:

• Responsive Design: The system should be fully functional on smartphones and tablets.
• Mobile Apps: Dedicated apps can provide a more streamlined experience, especially for reviewing updates or approving decisions.
• Offline Access: The ability to work offline and sync updates later ensures productivity, even in low-connectivity environments.

Mobile accessibility enables teams to stay connected and responsive, regardless of their location.

10. Vendor Support and Training

The best RMS will only deliver value with proper implementation, training, and ongoing support.

Vendor Considerations:

• Implementation Services: Look for vendors who provide thorough onboarding, including data migration and customisation.
• Training Programmes: Ensure the vendor offers in-depth training for all user levels, from analysts to senior managers.
• Customer Support: Responsive, round-the-clock support is critical for resolving issues quickly and minimising downtime.

A supportive vendor ensures firms derive maximum value from their RMS investment.

Selecting the right Research Management System is a strategic decision that can transform an asset manager’s investment process. By focusing on features such as data centralisation, workflow customisation, ESG integration, and advanced analytics, firms can empower their teams to work smarter, collaborate better, and make more informed decisions.

An RMS is not just a technology investment; it’s an enabler of competitive advantage in a complex and fast-paced industry. By choosing wisely, asset managers can position their teams for long-term success.