It’s Time to Tackle the Silo Challenge

June 10, 2009

Listen to David Sherriff Discuss Silos:

david_sherriff Traditionally, information regarding financial products, transactions and the underlying numbers have been kept in separate organizational silos, allowing for little to no visibility across different offices, regions or areas of business. At the same time, the people who manage data and those who manage financial transactions and products tend to operate very separately, making a clear view of how, when and why data moves from one place to another across an organization nearly impossible.

But following the market downturn and uproar about decisions made regarding high-risk financial products and investments, financial organizations face more scrutiny than ever before. Public pressure, a new regulatory environment and greater caution across the entire investment community mean that these firms will have to demonstrate that they have effective risk and financial management measures in place.

Because of this pressure, creating transparency and reporting on the management of financial risk exposure are among the biggest issues facing financial institutions today.

As firms look to access, analyze and report on risk and financial management data in new and potentially complex ways, they will require new technologies that allow for instant access to data and greater confidence in data integrity, as well as tools that are flexible, configurable, and easily integrated with existing technology to contain costs. Technology that enables in-depth insights based on large volumes of complex data will ultimately pave the way for smart decision making at the highest levels of the organization.

–David Sherriff, Chief Operting Officer, Microgen.

Posted by Carl · Filed Under Business Intelligence, Risk and Compliance