Des Moines, IA-based Principal Global Investors, the asset management arm of the Principal Financial Group, has gone live with the Cadis EDM suite from Cadis Software to centralize its security master data. The firm is seeing an immediate return on investment, thanks to improved control and governance of its security master data.
“This solution puts us in better control of our data and allows us to create processes that match how we want to do business today and for the future,” says Cherie Huffman, assistant director of securities operations at Principal Global Investors. “Cadis Software understands our business and the current software products we're using. Additionally, with two Cadis consultants working as part of our team on the implementation project, it was easy to align the software seamlessly with our infrastructure.”
Principal Global Investors, with more than $248 billion under management, maintains data in multiple sources across multiple time zones and systems. The Cadis EDM Suite has helped the firm access higher quality data, with a single, centralized security master file that delivers up-to-date, cleansed security master data, customized to the firm's specific requirements.
The system helps Principal Global Investors identify data inconsistencies at an early stage of the process, and allows data management team members to compare the security master file to other sources for quick resolution of any discrepancies. The flexibility of the system has also allowed the data management team at Principal Global Investors to quickly and easily create basic rules without relying on the IT department. Cadis EDM was implemented in just 11 weeks.
The Cadis EDM Suite has a multi-tier, distributed architecture based on Microsoft .NET and SQL Server technologies. The security master file is available 24 hours a day on a global basis and provides a consistent view of the Principal Global Investors’ assets across all systems. The system scales from single-site institutions up to the largest global players who process millions of records in multiple locations 24 hours a day.
Cadis Software, formerly Citadel Associates, specializes in buy-side enterprise data management solutions. Cadis Software is committed to staying in touch with the latest technology, and is using .NET 3.5 and already looking at the benefits of SQL Server 2008.