This white paper establishes the key components of a “modern” EDM system. It outlines the principal drivers to EDM adoption within financial markets and the business outcomes firms are looking for, and then describes the features required to deliver these outcomes and how such a system satisfies the broader needs of the enterprise.
Enterprise Data Management (EDM) systems have been with us for a long time. Many firms have undertaken large IT projects in an attempt to achieve a truly enterprise-wide platform for trustworthy data to support operations and reporting, but, as with all large projects, issues such as scope creep, cost overruns and the dangers of a “big bang” approach have often impeded their success.
The measure of success of a solution designed to be the go-to place for data across the enterprise is whether it has retained that primacy five or ten years down the line. In practice, many find that position eroded as the pace of change in financial markets exposes the inflexibility of older EDM architectures. This inflexibility often leads to tactical responses to new business problems which then become dislocated from the core EDM architecture. This paper examines what a modern EDM system should look like now, such that it can still be a modern EDM system tomorrow.