GoldenSource To Add IBI's WebFocus To Its EDM Solution

GoldenSource will resell IBI's WebFocus business intelligence software as part of the software and services it provides to financial services companies, which "need to manage their data as a strategic asset," said Stephen Engdahl, GoldenSource senior vice president of product strategy, in an interview.

GoldenSource's EDM solution is used by financial services companies to collect, standardize, consolidate, and manage data generated by internal transaction systems and data pulled in from external sources. These services provide investment managers, asset managers, and other users of the system with a comprehensive view of company data for accounting systems, risk analysis, and other applications.

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While users have been able to integrate other reporting tools with the EDM system, GoldenSource will use WebFocus to develop a pre-configured dashboard that provides managers with reports and charts about data quality, risk exposure, operational data, and other metrics.

"What we're trying to do with Information Builders is going to the next step and providing more functionality out-of-the-box," Engdahl said, noting that customers have been asking for such capabilities. The development work began in January and the job of fully integrating WebFocus with the GoldenSource EDM system is complete, he said.

The WebFocus technology will be offered as an add-on module for the GoldenSource EDM system and customers can continue to use other BI tools, if they choose.

Engdahl said his company chose to work with IBI because of the software company's extensive presence in the financial services industry and because the WebFocus technology was a good fit with the GoldenSource EDM system.

For IBI, the partnership "really enables us to take the mutual strengths we have in [the financial services] market and expand on it," said Don Grady, IBI channels director, in an interview.