Xenomorph continues to refine its TimeScape data management and analytics platform with a data validation dashboard designed to give users the benefits of better workflow control and exceptions handling, higher quality data and a data management solution based on familiar Microsoft technologies.
The company has developed the TimeScape Data Validation Dashboard with two banking clients over the past year, with a view to delivering better data quality and improved regulatory reporting around risk management. The company is now making the dashboard widely available as a browser-based solution designed to help banks, asset managers and hedge funds schedule automated cleansing of data that will be used in downstream systems, manage exceptions, and provide an audit trail of any data changes and who has made them.
Xenomorph has offered similar functionality for a while, but CEO Brian Sentance says the dashboard enriches TimeScape’s workflows and strengthens its data management capabilities.
By way of example, the software’s visual tools allow data for any asset class to be validated and remediated using out-of-the-box and extensible rules covering instrument, curve, surface and cube validations. Also, workflows can be configured to manage and control the validation of data points that are shared across multiple complex objects, such as curves and surfaces, and must be validated in the context of those objects. If any of the validations fail, those points can be rolled back and manual intervention used to correct the data using four-eyes – or two-user – validation and audit control.
Workflow improvement delivered by the data validation dashboard is achieved through the implementation of Microsoft SharePoint, SQL Server Integration Services and SQL Server Reporting Services and the integration of these solutions with Xenomorph’s proprietary technologies. Xenomorph’s previous data validation functionality remains in place in TimeScape, although Sentance suggests the TimeScape Data Validation Dashboard based on the Microsoft stack plays better into firms’ enterprise solutions.
Naj Alavi, managing director of Xenomorph’s New York office, concludes: “Without control of its data, a firm cannot really control its risk. Using TimeScape, our clients can reign in their data issues, no matter how simple or complex, to regain control.”