News
| Large global investment management company (mutual funds) |
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Products Purchased: GoldenSource Datamodel, GoldenSource Securities & Products and GoldenSource Accounting Key Stakeholders: Operations and Client Reporting Business Challenge: In mid 2001, the Company's environment consisted of three legacy systems, each with a different account structure. One system had multiple funds per account; the other two had one fund per account. Customer data could be found in one of the systems but not the others and the accounts were labeled differently in all three systems. Files had to be transferred to pass information since all three systems were batch oriented. Due to the complex data setup, reporting was difficult. On-line access to consolidated data was either not possible or not available till the next day. By late 2004, as a result of rapid expansion in recent years, the Company is implementing a strategy to build an aggregated view of their extensive customer base from multiple systems to enhance customer service and revenue generating opportunities. Solution: The Company has licensed GoldenSource Customers and supporting development tools as part of a visionary program to build on the existing GoldenSource installed accounting platform and develop a centralized repository of customer data. GoldenSource Accounting and GoldenSource Customers will form the foundation of a global information data store to support real-time customer record maintenance and transaction processing. This solution sits on the GoldenSource Datamodel, the industry's leading financial data model, and the associated tools will provide the necessary control and flexibility for additional customization and data model extension to meet operational needs. The robust, scalable and highly available system will provide business users with all the relevant, accurate and up-to-date information necessary to establish a clear picture of customer transactions and profitability across the firm. Benefits: By using GoldenSource's Datamodel and GoldenSource Accounting the Company was able to achieve the high performance benchmarks they desired for their existing workload. Since installing the original GoldenSource solutions, the data model and GoldenSource Accounting, the system has been optimized to post over 30 transactions a second or approximately 108,000 transaction in an hour. The scalability of GoldenSource's applications also provides the firm with the confidence to be able to sustain this performance as their business grows. With the recent addition of GoldenSource Customers, the Bank will be able to improve customer service, increase revenues and improve operational efficiencies with an enterprise-wide aggregated customer view.
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