As fund managers continue to operate in remote and decentralized environments, many are seeking ways to unlock more value from their data across various business functions. Through these initiatives, the need for proper data governance has become arguably more important than ever before for firms to achieve operational and organizational success.
Shown to provide cohesion in the standards that align people, processes, data and technology, data governance is a foundational element for any organization as it enables the transformation of data into valuable assets, thus improving top and bottom-line performance. Furthermore, well-governed data is useful, relevant, accessible, consistent, accurate and transparent across a range of business improvement initiatives.
Working with some of the largest global alternative funds, Indus Valley Partners has helped managers improve their data’s quality, usefulness, relevancy, accessibility and transparency through IVP EDM. Recently awarded “Best Data Governance Solution” at this year’s Inside Market Data & Inside Reference Data Awards, IVP EDM provides portfolio managers with the ability to deal with data exceptions and thus maintain governed data to make informed decisions. More specifically, IVP EDM provides:
- Exception Dashboards: A single place where users can visualize all of the exceptions in their data across multiple funds and datasets. Users are able to drill down and analyze exceptions to their most granular level to ensure that the data being consumed is accurate.
- Data Correction: Data monitoring would be unproductive unless the users doing the monitoring had the ability to correct the data. With a correction functionality, users are also provided with the ability to set constraints and maintain an audit of all actions taken on data.
- User-Defined Workflows: Due to the fact that corrected data must also go through approvals to avoid erroneous alterations, users are able to configure n-level workflows directly within the module itself.
- Data Stewardship: As soon as data has gone through all required levels of checks, a data steward’s final sign off will provide open access to data for reporting purposes. That way, portfolio managers and analysts don’t have to wait for all of the data to be clean and can consume clean data as soon as it is made available.
- Standard Data Dictionary & Catalog: This ensures that the data is standardized across the entire firm, allowing for increased levels of consistency and accuracy.
