Legal Entity Data Management Spending To Increase By 10% By 2010, Says Aite Group

According to a new impact report by Aite Group, LLC, Aite Group expects that by 2010, over 10 percent of the total spending within Enterprise Data Management will be for legal entity data management. This report highlights four vendors that

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According to a new impact report by Aite Group, LLC, Aite Group expects that by 2010, over 10 percent of the total spending within Enterprise Data Management will be for legal entity data management. This report highlights four vendors that provide products that help facilitate customer and counterparty data cleansing and management, including: Avox, CounterpartyLink, CreditDimensions, and D&B. Vendors were asked 64 questions regarding corporate information, product overviews, data information, origination, distribution, regulatory examination, and services.

“To remain compliant, to control risk, and to understand their customers, firms need to clean their customer and counterparty data,” says Adam Honor, the author of the report. “Given the current propensity to outsource the ‘plumbing’, or anything that does not create a proprietary competitive advantage, data cleansing services are in the right market at the right time. Vendors need to be willing partners with their customers regarding regulatory inquiries and compliance initiatives.”

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