PolarLake has launched the world’s first Reference Data Distribution application, with the release of PolarLake RDD. PolarLake says the product will help organisations overcome the complexities and expense associated with implementing a centralised Enterprise Data Management (EDM).
PolarLake RDD is designed to meet the specific requirements of the distribution of Reference Data in sell side, buy side, custodians and fund administration firms.
“According to Tower Group, one third of a typical Reference Data management project is spent on data distribution,” says PolarLake CEO John Randles. “Our experience with PolarLake RDD was that less than 5% of the overall project time was spent on data distribution. This has helped our client to deliver at lower cost and risk, with faster time to market”
“While studies continually point towards increased EDM adoption, reality does not seem to reflect demand,” says Larry Tabb of the Tabb Group. “A major reason behind this, we believe, is the complexity and cost of integrating firms’ downstream technologies. More efficient and effective data distribution tools would place EDM within reach for a wider array of firms helping them finally benefit from consistent and clean enterprise data at a cost-effective price.”