InvestTech Completes Multiple EDM and Reference Data Implementations

7 December 2011

InvestTech Systems Consulting, Inc., the leading Investment Technology and Investment Operations consulting firm for institutional investment managers, announced that they have recently completed multiple Enterprise Data Management (EDM) and Reference Data (RD) Implementation projects for North American asset management clients.

When a technology purchase decision is made, there are sometimes concessions made that impact the implementation and rollout. A common one is to only use internal resources. Some reasons for this include to move quickly up the learning curve and to control expenses. With the complexities of today’s systems this is not always as successful as hoped. InvestTech recently assisted two clients who had planned to “go it alone” in completing partially implemented EDM and RD solutions.

A large pension, endowment and government fund manager had purchased a data warehouse (DW) solution from a leading vendor. In the interest of managing expenses, the implementation was begun using internal resources. Subsequently, the firm decided to integrate the vendor’s investment accounting module, and encountered product limitations resulting from decisions made during the DW implementation. Specifically, non-standard data element usage that had not been properly controlled by the data warehouse prevented the integration. InvestTech was engaged to review data usage and data management, and ultimately provided best practice recommendations and remediation options. This allowed the firm to develop a comprehensive implementation plan, leveraging the prior work and establishing the foundation for future business requirements.

In another instance, a large asset manager and fund administrator launched the implementation of a new security master reference data system only using internal resources. Midstream during the implementation process, technical concerns arose regarding the system’s suitability. InvestTech consultants reviewed the solution and the implementation steps already performed. After analyzing the business and data requirements across the firm’s multiple business units, InvestTech confirmed that the system was capable of meeting the firm’s needs. InvestTech was also able to provide strategic direction and a roadmap and timeline to complete the implementation and delivery.

Bennett Kaplan, Managing Director at InvestTech, commented, “The InvestTech team is comprised of experienced and skilled resources who can expertly assess current-state challenges, align requirements to viable, practical solutions, and develop an obtainable course of action to reach the goal. Ideally while we prefer to be involved at the outset of a project, our expertise often allows us to assist firms to achieve success even when internal projects don’t unfold as planned.”

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