data management

We can not only point out and set the stage, but actually resolve functional and IT aspects of issues around counterpart and other static data.

  • Often counterpart data in a firm is not consolidated
  • Common to see multiple and duplicate identifiers per counterpart within a firm
  • Data ownership is not explicitly clear
  • Processes for data maintenance are not defined or enforced

Given that the data is used widely across business areas and various applications there is little justification for lack of incentive to overcome these critical shortcomings. Reasons for this are diverse, some given below.

  • Unawareness of the criticality of consolidated data in processing
  • Abundance of human capital giving the false impression of effective processing
  • Widespread opinion of failure in tackling the consolidation
  • Each set of users manages the issues in silos