GoldenSource Corporation, a global software provider of Enterprise Data Management (EDM) solutions for financial and securities institutions worldwide today announced strong sales of its solutions in London, Brussels, New York and Toronto during the first quarter of 2008.
Across all of its market segments, the company reported five new contract wins with an expanding customer base, and one significant upgrade with an existing client. As well as securing new contract wins with Tier 1 organizations in New York and London, markets where the firm has always been a leading supplier, GoldenSource has signed contracts with organizations in new regions. These new contracts represent sales in the buy-side, the sell-side and asset servicing financial services market segments. Such uptake in sales shows that the GoldenSource EDM message is gaining momentum across the range of financial services firms - particularly as institutions strive to improve the quality of data feeding their risk control and regulatory reporting applications, helping them compete more effectively in volatile markets.
"At the end of 2007 several analysts predicted that EDM would remain high on the agenda of financial institutions throughout 2008. While spending on some projects is being scaled back or postponed, we are witnessing that funding and support for EDM projects is holding strong. The credit crisis combined with the view that data should be managed as a strategic company asset is fuelling this trend. For the same reason, we're also starting to see buy-in into practical EDM projects from asset management firms," said Mike Meriton, CEO at GoldenSource. "These new wins span all three critical EDM data sets, with significant contracts focusing on security master capabilities, single view of the customer projects, and standardized transactions and positions. These contracts validate GoldenSource's unique market position as the only credible supplier that can pull together all the data that makes a difference to firms' performance and risk control."
The new contract wins comprise licenses for the entire GoldenSource EDM solution suite, as well as licenses for specific applications that form part of the suite - including GoldenSource Securities & Products, Customemer & Counterparties, Positions & Transactions and Connections. The GoldenSource Securities & Products application allows organizations to create and share a 'golden copy' data repository for all financial instruments, including the most complex structured products and OTC derivatives. The GoldenSource Customer & Counterparties application creates a single repository for all customer and counterparty data, allowing for a single view of the customer and a holistic view of counterparty exposure. The GoldenSource Positions & Transactions application allows customers to standardize and aggregate transactional and positional data to feed into the integration and analysis of financial and risk data. GoldenSource preconfigured Connections enable customers to quickly source and integrate data from external sources, with reduced project risk and implementation timeframes.
With growing awareness of the value EDM can bring to financial organizations of all sizes, GoldenSource continues to attract top talent with two new appointments. Sam Borowski, Head of Channel Partnerships has been hired to manage the continued growth of GoldenSource's "Powered by" channel sales, and Max Broggi will be responsible for account management in Southern Europe, an emerging EDM market for GoldenSource.
At the same time, GoldenSource continues to invest in its infrastructure by moving its EMEA headquarters to new and larger premises in London. The state-of-the-art offices will allow GoldenSource EMEA to provide a better service to its rapidly growing customer base with improved meeting and training facilities.