The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Cross-channel Information Sharing is Key Differentiator for MDM Platforms, Finds Aberdeen Study

Cross-channel information sharing is a key differentiator between master data management platforms (MDM), according to a study conducted by research firm Aberdeen Group. The study directly compares the responses of users of both Siperian and IBM MDM solutions and indicates that the former outperforms the latter with regards to certain key performance indicators (KPIs).

Aberdeen surveyed more than 400 end user organisations on the subject of leveraging MDM solutions to improve information integration, access, sharing and management. In the survey, users were asked to identify the approach they had taken or were taking to improve customer growth, revenue and user satisfaction.

While the vast majority of respondents, at 89%, originally opted for an in-house solution, nearly half have since moved to a packaged MDM solution, the report states. The main driver for investing in data management is competitive growth and profitability, at 61%, the report adds. It also highlights a correlation between the approach that institutions take to MDM and the results they report.

Ravi Shankar, director of Product Marketing at Siperian, explains why he believes so many respondents have moved away from in-house solutions: “The in-house solutions were not flexible and therefore unable to adapt to the rate of business change. For example, we are replacing an in-house solution at a customer site because their current solution couldn’t handle the business change to reorient themselves to an account-based selling model. We’ve done such replacements at several other customers. The other reason is cost. The total cost of ownership (TCO) of managing an in-house solution is astronomically higher because MDM is a hard problem to solve and it takes a significant amount of resources to maintain an in-house solution.”

To illustrate the findings, the report compares the top two MDM solution providers as ranked by the respondents: IBM and Siperian. It highlights “subtle differences” between the two that gives Siperian customers “nearly 50% greater improvement in satisfaction from only slightly better data quality”.

Related content

WEBINAR

Recorded Webinar: Ideas at the Edge – Managing Risk Information in the Siloed Enterprise

This webinar has passed, but you can view the recording here. Risk management has been accepted as the new imperative for financial institutions of all types and sizes. But for Tier 1 and Tier 2 banks and brokerages, the complexity of their organisations is presenting risk professionals with a thorny data management challenge: How to...

BLOG

Reformis Adds Matrix IDM and NeoXam to Vendor Partner Programme

Reformis, a buy-side business transformation consultancy, continues to build out its vendor partnership programme with the addition of Matrix IDM’s cloud native data management software, and NeoXam’s Impress reporting solution. These join the company’s list of existing partners and products including IHS Markit’s EDM software, Snowflake’s cloud data platform, and Compliance Solution Strategies’ Accudelta product....

EVENT

RegTech Summit London

Now in its 5th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Corporate Actions Europe 2010

The European corporate actions market could be the stage of some pretty heavy duty discussions regarding standards going forward, particularly with regards to the adoption of both XBRL tagging and ISO 20022 messaging. The region’s issuer community, for one, is not going to be easy to convince of the benefits of XBRL tags, given the...