due diligence

Many people watch the movement of stock market indices, and perhaps also interest rate changes, and possibly even foreign exchange movements: but who considers with much frequency or depth how a corporate issuer paying its dividend or interest rate coupon figures out how much to send to each beneficiary, or how it gets paid out and finds its way to their individual accounts in some far-off country? For those who do not particularly think about what is behind a light switch such that a room is well lit at night, or ask themselves about how clean water arrives at their tap, both hot and cold, they are also not likely to consider how stocks and bonds are looked after when their savings are invested in them. Most of the time, all of this infrastructure works without further consideration.

Today marks an exciting development at Thomas Murray IDS Australia and New Zealand, as we announce the Australian release of our multi-purpose software tool SupplierSelect for Financial Services (SupplierSelect). SupplierSelect is suitable for Australian Superannuation Funds with in-house investment teams and will help them appoint, monitor, and manage financial services providers. It is designed for business leaders as it provides audited transparent decision making.

My colleagues and I have been uniquely privileged to see a wide range of Fund operational challenges on a regular basis. One that is very familiar to us is an Institutional investor making major procurement decisions or monitoring key service providers with the use of an in-house spreadsheet. The administrative challenges of drafting, issuing, re-issuing, and scoring complex due diligence questionnaires and policy reviews can be formidable.