So far 2008 has not been a vintage year for the financial services industry. The hedge fund sector has certainly had its share of challenges. Returns are generally down, the inflow of capital has slowed and there have been several well-publicised fund failures. However, this has resulted in a new focus on the need for operational excellence and on how technology can help managers to control processes effectively. Managers need to manage risk, to satisfy investors that their money is in good hand