Hermes Fund Managers selects Cadis Software as its strategic EDM platform

London/New York - 10 September 2008

Cadis Software a provider of enterprise data management (EDM) systems for buy-side institutions, today announced that Hermes Fund Managers (Hermes) has signed a new deal to implement the Cadis EDM Suite. Cadis will serve as the central data management platform across all of Hermes' operations.

The Cadis EDM Suite manages and enriches the complex data required to feed order management, compliance, accounting and risk systems in a consistent, controlled environment. The system has gone live at Hermes in less than three months from signing the deal.

Philip Keeler, Head of Operations & IT at Hermes said: "The Cadis solution was selected following a very successful proof of concept to validate the capability of the product and the initial implementation has been rapid. We are undergoing a major business transformation that involves the development of a new operating model covering all areas of Hermes' business. Cadis will become a core component of the new operating model, supporting both reference data management and acting as a central data hub to manage the flow of data between all the new applications being implemented. Cadis Software was the only company that could deliver a solution to meet our demanding requirements and be up and running in a very short timescale. We also anticipate a quick return on the investment."

Daniel Simpson, CEO of Cadis Software added: "Hermes' decision is testament to our commitment and consistent delivery of EDM solutions in a timely and cost effective manner."

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