Adaptive introduces Business Glossary Manager
Oct 15, 2013 (MarketLine via COMTEX) --
Adaptive, a provider of web-based and industry-standards compliant metadata and enterprise architecture management solutions, has launched Adaptive Business Glossary Manager, or BGM, a web-based platform providing the framework to help organizations define and communicate business vocabulary and align glossary terms from disparate sources to commonly understood language definitions.
Available in the Cloud or behind the firewall, the BGM platform can substantially improve data governance and management while reducing exposure to compliance risk and is a key resource for creating and maintaining enterprise- and industry-wide glossaries, terms and definitions.
"Adaptive Business Glossary Manager takes disparate business terms and glossaries and provides the governance processes to manage, monitor and collaborate on terms and definitions on an industry-wide scale," said Jeff Goins, Adaptive's President and CEO. "BGM can also align multiple glossaries to a central glossary and create linkage between them, including direct integration with the Microsoft Office suite. These capabilities enable organizations to achieve the overall objectives of transparency that help with data governance."
BGM is integrated with the Enterprise Data Management (EDM) Council's recently released Financial Industry Business Ontology (FIBO). Both BGM and FIBO address a widespread challenge faced by many institutions - how to compare data within an enterprise, much less across the industry, in the absence of documented or consistent business term and data definitions.
Originally developed by EDM Council and currently in the process of being formally adopted as a series of standards by EDMC in conjunction with OMG, FIBO standardizes the language of business concepts used in financial contracts across the financial services industry.
BGM supports the FIBO standard by providing an organization the ability to align its local terminology and data to the FIBO ontological standard model and, thus, across different organizations and their regulatory bodies, enabling more efficient compilation of the data required for regulatory reporting, internal risk, compliance and analytics. BGM is designed to allow organizations to establish a comprehensive compendium of business terms that can be understood universally across all systems, processes and applications.
"Adaptive has been a core partner in the creation of the FIBO standard and is our repository of choice for industry access to the ontology," said Michael Atkin, Managing Director of the EDM Council. "Their Business Glossary Manager is a perfect example of how to leverage the value of FIBO as a common financial language."
Features of BGM include the ability to: define how the organization creates, approves, updates and promulgates consistent business terms and definitions; foster shared data usage across the organization; provide consistent terms and definitions, together with corresponding metadata; provide a stable foundation for the management and integration of glossary terms across the organization; and ability to scale up to an end-to-end metadata product to manage all enterprise data definitions and movement.
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