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Paladyne Systems Extends Implementation at First Customer GoldenTree Asset Management

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GoldenTree Asset Management, the first customer to implement Paladyne Systems’ Analytics Master data aggregation, reporting and reconciliation software back in 2006 is nearing the end of an 18-month project to build a central data warehouse for its applications using version 8.0 of the software.

According to Steven Lamm, head of application support and data management at GoldenTree, “We had been using Paladyne Analytics Master successfully since 2006, but as data became more important to our business, we could see things we could do better if data was more, and more quickly, available. We started looking for a solution that would give us better access to data and a faster time to market in 2011. We wanted a solution that would help us stay ahead of the company’s growth and ahead of client and regulatory demand for data. We also wanted to make our data as transparent as possible to clients and regulators, and we wanted to increase user efficiency. We reached out to many vendors and decided Paladyne Analytics Master 8.0 was best for us.”

Paladyne Analytics Master 8.0 was released last year and was quickly taken up by GoldenTree for a three-phase project that would integrate 12 years of data in a locally installed data warehouse. The first phase integrated the hedge fund’s largest applications, including trading and portfolio management, with the data warehouse, while the second integrated back-office apps, including vendor products such as SunGard VPM accounting and proprietary apps developed by GoldenTree. The third phase of the project is sweeping up the remainder of the firm’s 20 applications and is due to be completed by the end of June 2013.

Reporting that the project is paying dividends to the business, Lamm says: “Paladyne Analytics Master 8.0 has given GoldenTree the underlying foundation to build proprietary data aggregation and reporting tools that represent a major improvement in our data management and archiving. Centralising our data on the Paladyne platform has allowed the firm to provide more flexible, dynamic reporting and increased data and reporting consistency across the board. Ultimately, it allows us to be far more efficient, effective and consistent across our clients’ reporting and our in-house analysis and decision-making capability, while also reducing manually intensive processes.”

As well as meeting client requirements, GoldenTree says the central data warehouse is helping the firm pull together data to satisfy regulatory requirements and provides a base for future growth. Bill Christian, chief operating officer at GoldenTree, explains: “Many hedge funds outsource technology, but with our own data warehouse we can control data and reduce the difficulty of solving future problems. We can also take on significant assets, without adding significant headcount.”

For Paladyne, GoldenTree’s decision to implement Analytics Master 8.0 is testament to the companies’ relationship. As Sameer Shalaby, president of Paladyne, concludes: “GoldenTree was our first client, it believed in our vision and we looked to it for future direction. Its business needs are fairly complex and it has a complex technology footprint. Bringing the firm’s data together and normalising and synchronising it has been a large undertaking, but we have worked together on this project and delivered a successful solution.”

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