Date & Location
- Date: Tuesday, March 31, 2015
- Location: Naples, Fla. USA
ASG Software Solutions today announced the launch of its reference data management solution, ASG-metaRDM, further strengthening data governance capabilities for organizations. Fully integrated with ASG’s Rochade metadata repository and metaGlossary applications, ASG-metaRDM provides a simple user interface that shows the relationship and context of data throughout an organization to help reduce the risk and wasted resources associated with inconsistent and inaccurate data.
In a dynamic business environment, good reference data capabilities help rationalize business processes and supporting applications while better preparing businesses for regulatory initiatives by improving the way data is categorized and governed. With such improved data governance, businesses also have the ability to handle the tsunami of data being generated from ever increasing sources like the Internet of things (IoT), machine-to-machine and mobile technologies.
The management and governance of reference data is critical for any business to effectively work across different internal departments and external information systems. Most companies don’t have a centralized solution to do this, often managing reference data via spreadsheets and other ad hoc methods. This disjointed approach creates inaccuracies, inconsistencies and data duplications. With ASG-metaRDM, businesses have a reliable, accurate and controlled view of business data, significantly reducing the risk of incorrect values and any related business impacts. Businesses can remove redundant systems and their associated costs, establish data accountability and visualize data lineage.
“ASG-metaRDM is truly unique in its ability to integrate a metadata repository application, business glossary and reference data management in a single application,” said David Marco, president, EWSolutions. “Most vendors’ RDM solutions are not integrated, which simply does not provide organizations’ data stewards with the comprehensive solution that the ASG solution does with data lineage of reference data, which is linked to business terms and has an embedded governance process. The difference this makes in providing context for the reference data, and being able to see where it is used, is huge. Reference data that is not integrated with a business glossary and properly governed lacks semantic meaning and subjects an organization to errors in processes like workflow management and reporting.”
For organizations in regulated industries, remaining compliant means having an accurate, holistic view of their data. Reference data managed within ASG-metaRDM offers the end-to-end data lineage needed to easily determine where reference data is used. It also supports a data stewardship governance process for managing accountability, agreement and audit trails that track any changes that are made. The solution enables important context, such as single identifiers and unified data naming conventions, specifically required for organizations to remain compliant with regulations like Basel Committee on Banking Supervision (BCBS) 239.
“Data classifications are crucial to ensure the relationship and context of data remain consistent throughout an organization and during any scenario,” said Ian Rowlands, vice president of product management, ASG Software Solutions. “For instance, during an M&A event, inevitably, two different information systems must be integrated. This is no easy feat, as one organization’s classification codes are often different from the other’s; and, without a way to create consistent use of data across the board, it is difficult for the organizations to work together. A solution like ASG-metaRDM enables organizations to have a common understanding of information such as sales region identification/codes. This not only minimizes error, but ensures an organization can reap the greatest value of its latest merger or acquisition.”
Learn more about how ASG-metaRDM can create reference data context for improved business efficiency, click hereContact us to see how we can help your business.