There are a multitude of source systems that are used by front, middle and back-office teams in buy side firms. For the purpose of portfolio accounting, one of the most popular systems that is used is SS&C’s Advent Geneva, which allows funds to build their entire accounting book of records (ABOR) by feeding investments and reference data directly into the system.
With the sheer volume available today, most hedge funds and private equity firms consume data from a variety of sources such as market data providers, counterparties, fund admins and accounting systems. As a result, data is processed and consumed at multiple touchpoints, which can lead to dataset duplication and quality issues. However, implementing a robust master data management platform will enable funds to mitigate these challenges while simultaneously providing efficiencies and tangible insights. Read More
Organizational success depends on certain core building blocks that work in alignment with common business objectives. These main building blocks include business activities, data and analytics, but we believe the most important ingredient to organizational success is data governance. Although it has been somewhat of an abstract concept until now, data governance has been shown to provide cohesion in the standards to align people, processes, data and technology for successful and sustainable results while simultaneously helping organizations leverage data as a corporate asset.
Why is Data so Critical?
Data is essential to the operational success of any financial institution. The importance of data has never been greater due to the firms and people who rely on it to make key business decisions. The rising popularity of algorithmic trading, machine learning and artificial intelligence has only further fueled the power of data. With power comes great responsibility, and the need to protect, control and maintain data is essential for firms to succeed with proper data management.