Global Provider of Financial Services Software Innovates with InterSystems Data Platform Products
In the highly competitive world of investment management, mergers and acquisitions are common — and they often lead to extremely complex IT environments. Furthermore, in order to achieve success in today’s business climate, organizations need to move faster, be better, and do so for less. Businesses often turn to strategic software solutions to meet these seemingly conflicting goals. Objectway, a leading global provider of financial software products and services, is offering a new platform that helps investment managers deal with complexity and run their businesses even more efficiently. The platform, called ILLUMAS, leverages the integration and analytics capabilities of InterSystems data platform technologies.
“ILLUMAS is unique in several ways,” says Ian Hallam, CEO of Objectway Limited. “It provides functionality for the front-office and back-office along with rich business process management, straight-through processing, and embedded analytics. From a single solution, investment managers can optimize their operations to ultimately best serve their customers and meet their business objectives.”
Intelligent Interoperability Eliminates Complexity
“All of this can be integrated with their existing system architecture, providing overall strategic interoperability,” Hallam continues. “Some of these architectures are incredibly complex. Firms following an inorganic path to growth are regularly merging or buying firms so they often end up with an IT architecture that, if you tried to draw it, would look like an interlocking series of spider webs. Under those conditions, making any changes, introducing any new features, is very challenging. This complex system architecture can be an anchor, holding firms back from success. But ILLUMAS is built around an integration engine — InterSystems Ensemble® — so it can connect to and pull data from a wide variety of applications and data sources. ILLUMAS liberates the data from the spider webs and makes it available to people when, where, and how they want it.”
According to Hallam, Objectway has created an easy-to-use interface for investment managers to leverage InterSystems process orchestration and integration services, putting powerful contextualized process management into their hands. Firms can easily build what he refers to as a process map, linking specific ILLUMAS programs, data sources, plus other systems. Using the process map, ILLUMAS BPM will automatically generate a variety of screens from which users can manage and monitor the progress of tasks that make up the process. “Our clients are very excited about being able to automate their particular business processes,” says Hallam.
No Need for a Separate Data Warehouse
Analytics also play a big role in the ILLUMAS platform. The software uses InterSystems Business Intelligence to feed embedded dashboards that allow clients to analyze and manage their business processes. “InterSystems Business Intelligence is designed to work with InterSystems built-in, high-performance data store, so clients get real-time insights into their data without having to maintain a separate data warehouse,” notes Hallam. “That’s a big selling point for us.”
“In fact,” Hallam says, “InterSystems built-in database technology is one reason we decided to make it the backbone of ILLUMAS. We looked at other vendors’ solutions, but in order to get everything we wanted, we would have to bolt multiple products together. InterSystems provides everything — integration, business process management, analytics and reporting, a high-performance database, communication including mobile devices — in one seamless environment. Plus, our developers already know and appreciate InterSystems technology because it powers the predecessor to ILLUMAS, as well as other solutions that they have developed.”
Hallam reports that the early customer reaction to ILLUMAS is extremely positive. “We’re helping investment management firms stay competitive and excel,” he says. “Our existing customer base, which includes some of the biggest investment firms in Europe, has been happily using our investment management software for years. They are very pleased with the innovations we’ve introduced with ILLUMAS. We hope and expect to gain many more clients.”