Hong Kong, China (PRWEB) September 14, 2009
Asset Control, the world-wide leader in financial data management solutions, has announced key findings in a data management report completed by TowerGroup, a leading financial services research and advisory services firm.
The Asset Control-sponsored report, "Managing Data: Extract, Transform, Load (ETL) vs. Data Warehouse Solutions," reviews the strengths and limitations of the traditional strategies used by financial institutions to turn increasing volumes of data into a strategic competitive asset while reducing the cost of data management operations. It also presents a call to action to find a fresh approach that addresses the limitations of existing solutions and the effective consumption of data throughout the business.
Dayle Scher, research director at TowerGroup and author of the report, said, "Finding a solution that addresses, for example, the high costs of maintenance and the audit trail weaknesses of the ETL approach and the lack of flexibility and upgrade difficulties of the warehouse approach requires a new, innovative way of thinking. It is time to envision an integrated, consumption-based solution that addresses fragmented data sources and disparate data requirements while containing long-term cost of ownership."
Asset Control also published a response to the TowerGroup report in a white paper, "The Third Way of Managing Data in Financial Services." The paper further demonstrates that a new guiding principle for data management is needed to match an increasing focus on the different ways in which data is consumed within the business, and presents Asset Control's perspective for a new, adaptive approach that responds to the entire data management lifecycle.
Phil Lynch, Asset Control's president and chief executive officer, said, "As the financial industry has become more globally integrated, complex and subject to more intense regulatory scrutiny, data compliance and the necessary controls to ensure the provenance and quality of underlying data is more crucial. Increasingly, there is a need for business users to engage directly with their data as part of an approach for delivering compliant, accurate and reliable data within a controlled, auditable and web-based environment. Asset Control now provides a regulator-ready platform that directly addresses the need for a consumption-based approach to data management and data compliance."
About Asset Control
Asset Control provides centralized data management solutions for financial institutions world-wide. From business-entity to firm-wide projects, Asset Control offers a strategic reference and market data platform that delivers the accuracy, consistency and relevancy firms need to reduce costs and risk, manage evolving compliance needs, and accelerate the delivery of new products and services. Established in 1991, and with a 'blue chip' global customer base, Asset Control is backed by Fidelity Ventures, one of the world's leading providers of capital to technology companies. For more information, visit http://www.asset-control.com.
Trademark Information: Asset Control and the Asset Control logo are trademarks or registered trademarks of Asset Control Systems, Inc. or its subsidiaries or affiliates in the U.S. and/or other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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