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When leading fund manager Genesis found it was regularly exceeding its storage allowance it called on Sungard Availability Services for help. By eliminating large volumes of unwanted data Genesis has been able to save thousands of pounds in excess charges.
Genesis Investment Management, established in 1989, provides institutional clients with high investment returns by taking a research-driven approach to investment in emerging markets. Its entrepreneurial culture has enabled Genesis to build a reputation for delivering results.
The firm’s emphasis on research means it recognises the value of data and it has relied on electronic Vaulting Solutions from Sungard AS since 2003. Vaulting contracts are based on estimated vault usage with additional use charged at reasonable rates. Having last reviewed its backup requirements in 2007, Genesis found that it was regularly exceeding the storage space to which it had subscribed. This resulted in excess charges but Genesis was understandably reluctant to upgrade to a larger, more costly storage allocation if this could be avoided. Sungard AS consultants recommended that Genesis undertake a Vaulting Assessment to proactively manage vault content and data growth. This service provides a detailed analysis of data types, volumes and changes and allows Sungard AS’s vaulting specialists to recommend tiering structures and develop a vaulting strategy that meets business needs.
“It was definitely a valuable exercise – so much so that I’m considering doing it annually.” Colin Cloves, IT Manager, Genesis Investment Management
The relatively modest cost of the exercise is recouped several times over by the savings in excess charges. Genesis also benefi ts from shorter backup and restore times, which will give them a head start in recovering from any business interruption in the future.
The Vaulting Assessment conducted by Sungard AS gave Genesis a clear picture of its data for the fi rst time. It revealed that Genesis had been storing 4.5 Tb of unnecessary data, including redundant service packs and exchange recovery groups, which accounted for it exceeding its usage allowance.
Genesis estimates that it has been able to eliminate between 25 and 40% of unwanted data as a result of the Vaulting Assessment, saving the firm thousands of pounds in excess charges each month. IT Manager Colin Cloves says, “I found it a very worthwhile exercise. The report and the views that we can create through the portal allow us to monitor the effect that our backups have on our storage resources. Over time this will allow us to streamline the service to fit the needs of our business better.”
“The guys who carried out our Vaulting Assessment were clearly very knowledgeable and experienced. I couldn’t fault their service." Colin Cloves, IT Manager, Genesis Investment Management
Genesis was regularly exceeding its budgeted storage allowance and incurring excess charges. The fund manager recognised it needed a clear picture of its vault contents to eliminate unwanted data.