First Web Platform with Semantic Ontology capabilities to Enable the More Efficient Use of Data Required for Compliance, Reduction of Exposure to Risk; the gateway to an end-to-end metadata management solution
IRVINE—October 8, 2013—Adaptive today announced the launch of Adaptive Business Glossary Manager™ (BGM), a web-based platform providing the framework to help organizations define and communicate consistent 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. As organizations of all types face increasing pressure from impending regulations, the need for data comparability is intensified. This objective is, however, hampered by the absence of a common language, making it difficult to establish linkages between disparate data and exposing organizations to system-wide risk.
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:
Headquartered in Irvine, CA, Adaptive is a market leader in offering standards-based metadata solutions that help organizations better align their valuable information by supporting specific management challenges, including Data Governance, Data Quality, Metadata Management, Enterprise Architecture Management and IT Portfolio Management. The company has helped complex organizations adapt to and support rapidly changing business and IT environments driven by the ever-increasing demands of compliance, regulatory pressures and governance requirements. For more information, go to www.adaptive.com.