Netik, the securities data management and reporting specialist, today announced the significant upgrade of Netik's Data Portal (InterChange) as part of Netik InterView release 7 – the Investment Hub.
Netik's previous version of the Data Portal was based on relatively low level system (i.e., technical) workflow, whereas this new release enables:
- Business and process workflows that are graphically defined in the Data Portal
- Definition of complete end-to-end autonomic processes
- Plug-in compatibility with third party components such as function specific parsers and translators
- Compatibility with third party business plug-ins for validation and enrichment
- Processing of traditional and alternative investments through Netik Data Warehouse and Netik Common Investment Adapter (CIA)
The upgrade to the Data Portal in Netik InterView release 7, was driven by the need to define complete autonomic processes for mass automation and reporting recognizing real end-to-end transactional workflow. Plus the new Data Portal can process thousands of complex workflows concurrently.
The design-time graphical user interface (Data Portal Studio) enables many more linked workflows to be defined to reflect accurately the complexity of business processes. The new Data Portal Studio comprises a suite of plug-in design tools, which are driven by XML data schemas. It has been engineered to allow analysts from the business community to help define complete autonomic processes that enhance operational efficiency throughout the enterprise leveraging the technology's ability to include many third party components as plug-in and event based tasks.
Alastair Upton, Technical Director at Netik, says "Processes and tasks can now be graphically defined into workflows enabling analysts to deal with huge complexity within a user friendly environment. This allows rapid deployment of manageable, tailored solutions. Not only is the design process and run-time performance improved, but the Netik Data Portal also delivers significant benefits for support problem resolution, testing and version control."
In addition, the new Data Portal is shipped with Netik's Common Investment Adapter (CIA) that has been developed with Advent Software Inc, California. The CIA provides the data model for all assets associated with both traditional and alternative investment strategies.
Netik Data Portal is one of the core enabling components of the company's flagship product, Netik InterView Investment Hub, and provides all the Data Management, Data Workflow and Data Integration capabilities necessary for the Hub to operate at the heart of the investment process. Netik InterView uniquely deploys a Data Portal and Information Portal to safely assemble data from multiple sources, store comprehensive portfolio and investment data in a Data Warehouse, and transform this into information for distribution throughout the enterprise and externally for client reporting.
Netik's Data Portal leverages standard components from previous releases, plus important new architectural components, to deliver even more benefits for deploying Netik InterView. These include noticeable enhancements to workflow design and management tools plus operational monitoring and control - all of which are focused on further simplifying the implementation process and improving the effectiveness of Netik's renowned rapid deployments. Importantly, the Data Portal upgrade also provides quantum improvements to system performance and scalability.
Colin Close, CIO, says, "The improved Data Portal provides greater flexibility, with the end result being that the Netik InterView Investment Hub can now be implemented far more rapidly to give a solution that totally fits the customer's requirements. Netik's Data Portal approach to securities data management and workflow means that the Netik InterView Investment Hub can be easily integrated into clients' existing systems infrastructures. The new Data Portal significantly enhances the current ability of Netik InterView Investment Hub to provide the 'glue' between internal systems and external data sources which is so vital for successful investment operations processing."
Workflow is at the heart of Netik InterView, and Netik Data Portal now has a superior workflow engine with improved flexibility. The new workflow engine comprises process design tools and an enhanced workflow event manager that combine to deliver a workflow management component that offers ease-of-use, improved scalability and robustness, as well as higher levels of performance.
Colin Close, CIO, continues, "Functionally the workflow engine is much richer. It offers enhanced features including branching and flexible routing that give a more granular level of management and control at all stages of the information flow through the Investment Hub. Information is validated and enriched within the Netik InterView Investment Hub and exceptions are identified and highlighted to the appropriate business personnel far earlier in the transaction lifecycle."
"With Netik InterView's suite of discrete components that can be deployed in many different combinations, we are able to offer clients tailor made solutions appropriate for the task in hand. This is true modularity and provides maximum flexibility. It is the reason why Netik is able to provide revolutionary solutions via deployments and implementations that are actually evolutionary and therefore, perhaps more palatable to the enterprise."
Existing users of Netik InterChange will be able to take advantage of these new features and functions by upgrading existing solutions using the Netik InterChange Data Portal upgrade service.