InvestTech Systems Consulting, a leading buy-side investment management technology consulting firm, today announced the availability of a general purpose reconciliation tool developed using the Irion IDQ framework. The IDQ/Recon tool allows an enterprise to easily compare and validate similar or redundant datasets across the organization. In addition to traditional accounting reconciliation usage, this tool is also useful for data validation during system migrations, upgrades, multi-location data replication, and any other circumstance where it is vital that data integrity be maintained across multiple sources and destinations. The IDQ/Recon tool is built on a data virtualization engine in an enterprise-class framework. It is deployed with easily configurable “recon packages” that results in a plug-and-play comparison suite suitable for virtually any type of data checking in an organization.
Dealing with data redundancy and multiple data formats can be a challenge - often leading to compromised data quality, inconsistencies in field values, damage to keys, or simply lost data. Furthermore, the complicated and customized solutions needed to manage the reconciliation of these datasets tend to be incomplete and non-repeatable. The IDQ/Recon tool alleviates these issues with powerful metadata configuration of connections, data set definitions, comparison rules, and quality checks.
With increased scrutiny, compliance, governance and data driven requirements on organizations, there is an ever increasing premium being placed on Data Quality. IDQ/Recon facilitates the exposure of inconsistencies between similar and disparate datasets and provides tools to control and measure the repair cycles. The tool has been successfully used in multiple investment system conversions where each successive test round of converted data is validated, cleansed and improved.
InvestTech is continually enhancing its enterprise data management (EDM) consulting capabilities. Jeremy Hurwitz, InvestTech Founder and Data Management practice lead commented, “Our clients are increasingly looking for solutions to provide transparency and integrity supporting their data governance efforts. The IDQ/Recon solution provides a key building block in a comprehensive Data Quality and Data Governance strategy.”
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