Investit, the London-based investment management consultancy, has launched an operations benchmark which allows investment managers and administrators to compare their operations processes to their peers and best practice standards.

According to Investit, the benchmarking service helps firms to identify their operational strengths and weaknesses and so enables them to direct future investment into the areas where it is most needed. Over 20 investment managers and administrators are now using the service and interest has begun to grow globally via Investit’s overseas offices, said Simon Stratford, principal consultant.

“It is now essential for firms to know just how good their operations platform is and how it compares with their peers. They need to know what best practice is and how close they are to it,” Mr Stratford said.

“By collecting qualitative and quantitative data on operations processes right across the business, we produce a comparative assessment against best practice and show firms where they rank in the survey universe. We also present a comparative assessment against the firm’s specific peer group.”

Preliminary findings from the initial launch of the operations benchmarking service will be produced and discussed at Investit’s Intelligence Summer Conference in London on 7 July.