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ICAP Gains Robust Control Over Financial Master Data with Oracle’s Enterprise Data Governance Solution

8 July 2015

Markets operator is first in the UK to implement Oracle Data Relationship Governance

London, UK—08 July 2015

Oracle announced today that ICAP plc has implemented Oracle’s Enterprise Data Governance solution, Oracle Data Relationship Management and Oracle Data Relationship Governance, becoming the first company in the United Kingdom to do so.

ICAP is a leading markets operator and provider of post-trade risk mitigation and information services. The company has replaced a legacy process involving manual spreadsheet maintenance and frequent e-mail exchanges with the Oracle solutions, enabling the company to streamline the change management and governance of its chart of accounts.

This implementation of Enterprise Data Governance has also transformed ICAP’s ability to handle its master data accurately, effectively, and swiftly.

Viv Leese, CFO, Global Business Services, ICAP plc, said: “Oracle Data Relationship Management, coupled with Oracle Data Relationship Governance, has given us effective and robust control over our financial master data. As a result, we have empowered master data owners with driving a controlled and automated process across our EPM applications.”

“Further, this has enabled us to control the release of master data changes from our development to our production environment. We can test the impact of our master data changes on numbers in our preproduction environment to ensure the required effect. We can then release these changes using a controlled and automated process to our production environment.”

Oracle Data Relationship Management helps organizations to proactively manage changes in master data across operational, analytical, and enterprise performance management silos, while Oracle Data Relationship Governance provides change management and data quality remediation workflows to ensure master data consistency and accuracy across front-line business users, line-of-business approvers, subject matter experts and data stewards.

Rahul Kamath, director of product management at Oracle, said: “Since its release, Oracle Data Relationship Governance not only has demonstrated strong sales momentum but also has delivered value through successful implementations among a series of early adopters. ICAP plc is one among many such forward-thinking companies, and we are delighted that ICAP has achieved the first implementation of Oracle Data Relationship Governance in the UK.”

Seismi, ICAP’s systems integration partner, played a key role in the success of the implementation.

James Gordon, managing director, Seismi Limited, said: “Enterprise data governance is becoming a critical supporting technology for EPM and BI deployments for many of our customers. A model-driven, contextually relevant solution like Oracle Data Relationship Governance offers the ideal complement to the industry-leading Oracle Data Relationship Management solution by making it easier for our customers to configure, deploy, and streamline the change management process for master data structures across multiple domains and analytic subject areas.” 

Oracle Data Relationship Management and Oracle Data Relationship Governance are part of the Oracle Enterprise Performance Management (Oracle EPM) portfolio and serve as the foundation for dimension conformance and information governance, while delivering differentiated value as a model-driven, configuration-based platform for mastering reference data, dimensions, alternate hierarchies, and cross-domain mappings.

Source: Oracle UK

 

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