EDM vendor Cadis has acquired management information and compliance reporting software provider C8 Software in a bid to combine the two vendors’ offerings and meet clients’ reporting and risk data requirements. Daniel Simpson, CEO of Cadis Software, explains that the new offering is aimed at cleaning up what he sees as often poor quality data in the compliance space.
C8’s flagship reporting tool, Consolid8, will be integrated with the Cadis offering to allow clients to leverage the data stored within the vendor’s EDM application. Simpson elaborates: “We are responding to the requests of our customers to integrate enterprise data management with reporting technology to create a ‘best in class’ solution. Many reporting initiatives fail due to poor quality data; Cadis has demonstrable success in rapidly pulling this information together from disparate sources in a fully audited environment.”
The vendor claims its clients will be able to seamlessly extract reporting information, which has been validated and audited, into internal and external reports as a result of the integration.
Rob Gray, managing director and co-founder of C8 Software, claims that it decided to accept Cadis’ offering because of its reputation and market share. “Cadis and C8 have perfect synergies and a matching ethos around client implementation and customer satisfaction,” he adds. Gray also indicates that the initial launch of reporting solutions will be followed by more offerings in the near future.
The vendor is seeking to capitalise on the recent upsurge in customer interest in risk and reporting solutions as a result of the intense regulatory scrutiny in the current market. By integrating its EDM offering with a downstream data solution it may get more traction in a market that is suffering from budget cutbacks across the board.
Earlier this year, the vendor integrated the London Stock Exchange’s (LSE) Datalect product suite into its EDM Suite, including the exchange operator’s Sedol Masterfile service, with a view to increasing its appeal to its buy side target customer base.