What we think after being the first to implement the Markit EDM 11.5 new core matcher
As far as we know, we are the first Markit EDM certified partner to implement the new 11.5 core matcher. When Markit announced the new matcher functionality in September 2016, it described a new style of matching that would considerably reduce the number of rules and could run as an in-memory service.
After completing this project and monitoring the results for a few months, we’re extremely pleased with the implementation process and the functionality of the matcher itself.
First, the installation and configuration process is much, much faster than other matchers we have experienced. With other matchers, adding sources and writing rules is a tedious process that can take months to complete. Not anymore. Markit’s 11.5 matcher can be set up in hours. This is because it uses an attribute scoring system to build a central Core Record that is used to match data rather than matching data to the individual sources. Business users can be empowered to make changes that make sense, freeing up IT’s time to focus on more suitable tasks.
If your firm has been considering changing data vendors, but has concerns about the challenges involved with updating your current matcher, we think that the 11.5 matcher is the answer. With the new scoring system, it is much easier to add or remove sources because it isn’t necessary to write all new rule sets.
Once the matcher is set up and running, the benefits continue. The 11.5 matcher runs in memory and concurrently. We have found that the performance and processing time to be excellent, even with large volumes of data.
Firms that are considering upgrading their Markit EDM installation will be very pleased with the new core matcher’s functionality. For firms that are considering adding a master data set, such as an account master or portfolio master, upgrading to the new master will greatly improve your firm’s ability to master data quickly and efficiently.
If you have questions about your particular situation and how the new core matcher can benefit your particular situation, please contact us.