Business Entity Data special report

June 2015 -- sponsored by AIM Software and Thomson Reuters

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Entity Data Comes of Age

Business entity data isn't just the LEI (legal entity identifier) anymore. As AIM Software's Olivier Schlatter puts it in the Virtual Roundtable in this report on the topic, "entity data has become a major topic of conversation and is now recognized as an important subject matter." With business entity data's newly discovered importance, there is also the realization that centralizing this data, as has been done or attempted with LEIs and numerous other pieces of key reference data, is a good idea.

Schlatter says firms see a need for a central hub, or enterprise data management platforms that can range across data domains and leverage related data elements. JP Morgan's Ludwig D'Angelo sees the advances for entity data operations happening through structure and controls of an overall operating model, with implementations of new operating models driving improvements for handling entity data.

Consultant Ed Ventura adds in the Virtual Roundtable that centralization of business entity data is the direction the industry is headed, so the data can be easily shared by sales, marketing and operations units of firms. And Deloitte & Touche's Sam Auxier poses that a central enterprise utility "that really knows the data at a detailed level," is the leading solution for business entity data.

To feed any possible central solution for business entity data, standardization of
operations, in some cases driven by the LEI, along with validating data and making that data flow more effectively to the research and reporting where it is needed, are important functions to complete, as our Roundtable participants explain. D'Angelo, in the separate Q&A closing this report, points out that establishing entity hierarchies will produce a "matrixed" view of risk from business entity data that undoubtedly will be valuable to firms.

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