Published on December 10th, 2014
CEB TowerGroup Analysts Technology Assessment Rated Critical Attributes for You to Consider in 2015 Planning
John Randles, CEO Bloomberg PolarLake
Years ago, I worked for Siebel Systems, which at the time was the undisputed leader in CRM software. As successful as we were, there was one major issue – it was all just too hard – too hard to implement, to maintain, to upgrade and to use.
Then, along came Salesforce.com, a disruptive start-up with a bold message of enabling firms to manage valuable customer data ‘as a service’, without clunky desktop software. This approach was simply easier . . . and less expensive. Companies of all sizes embraced this new paradigm because they realized that by doing so, they could devote more resources to revenue generating pursuits by leveraging a vendor for CRM capabilities.
Thinking about this history prompted me to think: Is the management of security master, price master, trade, holdings and position data any different from how firms manage CRM data?
I believe it is much different. Data is mission-critical to the trade life cycle and needs to feed trading applications in a timely and high quality fashion every time. And in fact, Bloomberg has delivered its leading financial information, news and analytics service via cloud services for decades for just this reason.
Because of the need for absolute guaranteed end-to-end processing, the hybrid configuration of a managed service is often the best option. The combination of a managed service (i.e. private cloud) with local software enables firms to achieve Salesforce-style results while recognizing the particular nuances of data management in the financial services world, including the importance of end-to-end processing.
It’s with this in mind we are particularly pleased that the recent CEB TowerGroup analyst Data Management Systems report recognized Bloomberg PolarLake as a “Best in Class” for Business Process Improvement and Enterprise Support.
Business Process Improvement is the focus of every data management initiative. Our clients initiate business process improvement programs to make data easier to use and consume, implement data governance and data quality controls and solve tangible risk, regulation and operations challenges (pricing point management, security master cleansing, entity hierarchy enrichment etc.).
Enterprise Support is critical for companies embarking on data management initiatives; working with a trusted partner greatly improves the chances of success in what are often very complex undertakings.
As the CRM industry has taught us, those who make the difficult problems go away and deliver better outcomes win over the long term.
With more than 20 clients on-board our managed service — running 24×7 across our global operation centres and processing over 1.4 Billion records of data per day — our experience confirms CEB TowerGroup’s position that the emerging macro trends which will have the most impact on data management are managed services and data utilities. We are proud to be a recognized ‘best-in-class’ in partnering with the industry to prepare for that future.
To request the report abstract, please click here.
To learn more about managed, hybrid or deployed software solutions from Bloomberg PolarLake contact me on +353 1 499 1010 or email@example.com
I wish everyone a great start to 2015,
John Randles, CEO Bloomberg PolarLake
Technology Assessment Disclaimer: CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated “best in class.” CEB TowerGroup research publications consist of the opinions of CEB TowerGroup’s analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.