Information Technology - Blog V-Soft Consulting

Defining and Organizing Finance Data to Meet Compliance

Written by admin | Jul 1, 2024 3:54:00 PM

A large finance company needed to maximize their value, manage risks, and reduce costs by managing internal and external data.

Challenge

The customer faced several challenges regarding their enterprise data:

  1. Controlling data
  2. Understanding data
  3. Managing data
  4. Understand what processes are working and which ones aren’t and why
  5. Lack of business stakeholder commitment
  6. Redundant development and maintenance efforts across various systems

Solution

V-Soft Digital deployed a robust data governance solution including meta data management, business glossary and data lineage that provided end-to-end control of the client’s data.

Solution Benefits

  • Consistent view of data with flexibility for all business units
  • Data accuracy, completeness, and consistency
  • Ability to identify location of all data related to key systems
  • Single version of truth, creating appropriate level of entities and activities
  • Meets government regulations such as GDPR and PCI
  • Overall Improved data management

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