SimCorp Vendor Evaluation Checklist: What to Ask During RFP and Demo Stages

Selecting a SimCorp implementation partner is one of the most consequential technology decisions an investment manager will make. The platform itself is proven across some of the world’s largest asset managers and pension funds, but the quality of your implementation partner determines whether you realise that potential or spend significant time addressing configuration issues, data quality problems, and operational breaks after go-live. A rigorous SimCorp vendor evaluation process, built around the right questions at the right stages, is what separates a confident selection from an expensive regret.

Why the RFP Stage Sets the Tone for Everything That Follows

Most procurement teams underinvest in RFP design. They issue a long list of feature questions, collect polished responses, and then discover in the demo stage that the responses were aspirational rather than operational. The SimCorp RFP checklist needs a different structure. Rather than asking what the platform can do, it should ask what the partner has done, in your asset class, at your scale, in your regulatory jurisdiction, and with your specific technical constraints.

Key RFP Questions That Distinguish Experienced Partners

Implementation Track Record

Ask each respondent to provide a list of SimCorp implementations completed in the past five years, including the asset classes covered, the fund structure complexity, the regulatory jurisdictions involved, and the go-live timeline compared to original estimates. A partner that cannot provide several comparable reference clients should be asked to explain how its experience aligns with the scope and complexity of your implementation.

Data Migration Methodology

Data migration is where most SimCorp projects encounter their first serious delays. Ask respondents to describe their specific methodology for migrating from your current platform, covering ETL design, validation approach, how they handle referential integrity for multi-fund structures, and what their rollback protocol is if migration validation fails close to cutover. A credible answer involves documented tools, not descriptions of what they will build.

Staffing and Consultant Continuity

Confirm that the consultants listed in the proposal will actually be assigned to the project, rather than having senior professionals showcased during the selection process while less experienced resources handle the delivery. Request CVs of the specific individuals assigned to each workstream. Ask how the partner handles consultant attrition during a multi-year project and what their escalation process is when a key subject matter expert departs mid-implementation.

Regulatory Configuration Experience

For firms operating across US and Canadian regulatory regimes, regulatory configuration should be assessed against the specific obligations applicable to each fund, mandate, and legal entity. Ask respondents to describe relevant regulatory rules they have configured, including applicable SEC reporting requirements, Canadian securities rules such as NI 81-102, and UCITS restrictions where European-domiciled funds are involved. Vague answers about regulatory experience indicate that this has been handled by the client’s internal team rather than the partner.

Post-Go-Live Support Model

The period immediately following go-live is an important phase for identifying and resolving production issues. Ask what structured hypercare support is provided, for how long, at what staffing level, and at what cost. Understand how defects identified post-go-live are prioritised and resolved, and whether the partner has a documented SLA for critical issues that affect NAV production or regulatory reporting.

Commercial Model and Cost Transparency

Ask for a fixed-price component on the deliverables that are most clearly scoped, and a clear explanation of what will be billed on a time-and-materials basis and why. Request a rate card for all consultant grades. Ask how scope changes are managed and what the change control process looks like. If a partner resists fixed pricing for clearly defined deliverables, ask why and examine the assumptions, exclusions, and change-control provisions behind the proposed commercial model.

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What a SimCorp Product Demo Should Cover

A SimCorp partner evaluation is not complete without a structured demo that tests real operational scenarios rather than a vendor-curated showcase. Give each vendor a scripted set of scenarios drawn from your actual operational requirements and ask them to demonstrate how the platform handles those specific cases.

Effective demo scenarios for investment managers include multi-fund NAV calculation with at least three different fee structures running simultaneously, a corporate action processing workflow for a complex equity event such as a rights issue with oversubscription, a pre-trade compliance check for a proposed trade that would breach an issuer concentration limit, and a reconciliation break workflow showing how an exception is identified, investigated, and resolved.

Red Flags to Watch for During the SimCorp Vendor Selection Process