Boston, MA, December 4, 2006 – According to a new impact report by Aite Group, LLC, Aite Group expects that by 2010, over 10% of the total spending within Enterprise Data Management will be for legal entity data management. This report highlights four vendors that provide products that help facilitate customer and counterparty data cleansing and management, including: Avox, CounterpartyLink, CreditDimensions, and D&B. Vendors were asked 64 questions regarding corporate information, product overviews, data information, origination, distribution, regulatory examination, and services.
According to Adam Honoré, author of the report, "To remain compliant, to control risk, and to understand their customers, firms need to clean their customer and counterparty data. Given the current propensity to outsource the 'plumbing', or anything that does not create a proprietary competitive advantage, data cleansing services are in the right market at the right time." The analyst adds, "Vendors need to be willing partners with their customers regarding regulatory inquiries and compliance initiatives."
This 50-page Impact Report contains 12 figures and eight tables. Clients of Aite Group's Institutional Securities & Investments Service can download the report