Problem in the Industry
Data management projects are failing. A global estimate places the failure rate of data management projects at 50%, costing businesses millions of dollars time and again on mistakes that can be avoided. How did this happen?
A large part of the problem is due to issues with the legacy solutions that are prevalent in the industry. Data management best practices for the finance industry have formed incrementally during the past 30 years, and any system built more than a handful of years ago can by definition not include all of these. The result of this compounding problem is that the integration and configuration of these systems for clients is dragged out for weeks and months (and even years!), and then still fails to meet the requirements of clients.
The same complexities caused by years of software bloat and playing technology catch-up mean having to utilise an incredible amount of man-power in order to make these ageing systems work. Despite all the inherent complexities and difficulties in the incumbent software solutions, the licence fees charged across the industry are astronomical.
Our Solution
FENCORE'S MISSION IS TO MAKE DATA MANAGEMENT EASY. Our core team of founders, employees and advisors has spent over 40 years developing and implementing data management software for the world's leading vendors. Our first hand experience of the pain points that banks and asset management firms still struggle with is what led to the formation of Fencore.
A core purpose of a data management system is to consume data from source systems, and feed this to downstream systems. This basic task has been made incredibly difficult and painful by a lagging industry. Many other essential tasks are manual, error prone, and needlessly repetitive; and some even require too much technical expertise to implement.
Anticipating clients’ needs and incorporating best practices into the core of Fencore DataHub is what differentiates us from the rest. Instead of requiring time-consuming configuration, you get user-friendly, out-of-the-box functionalities and features that can be turned on and off with a single click. This means you'll be up and running in no time. This is what it means to have EDM simplified.