|By Business Wire||
|April 9, 2014 02:00 AM EDT||
Orchestra Networks, a leading multidomain Master and Reference Data Management (MDM/RDM) solution provider, today announced that Louis Dreyfus Commodities, a leader in food-processing and agricultural commodities-trading, has successfully deployed the first phase of its Counterparty Master Data Management System on Orchestra Networks’ MDM/RDM software EBX5.
Louis Dreyfus Commodities (LDC)--the D in the “ABCD” companies that dominate global agricultural flow--is a $63.6B merchandiser of commodities, a major asset owner and a processor of agricultural goods. Prior to the implementation of the Counterparty Master Data Management System, counterparty data was managed and stored in many different and unsynchronized operational systems. Additionally, the process for creating, validating and managing counterparties varied across functions and countries. The unsynchronized systems and lack of standard processes created operational, credit and compliance risk to the business. There was no single, authoritative source of counterparty standard settlement instructions (SSI) and no simple way to list or search LDC’s counterparties.
With the implementation of the Counterparty Master Data Management System, LDC now has a single, authoritative source of counterparty information. Enterprise applications and individuals (traders, risk managers, compliance and operations staff) all have access to an authoritative source of commercial counterparty information and their hierarchies. Additionally, with this system LDC has standardized the counterparty on-boarding process while maintaining the adaptations required on a country-by-country basis.
“Louis Dreyfus Commodities needed a Master Data Management system that could meet the needs of our various stakeholders spread across trading, operations and compliance domains,” said Romain Desigaud, head of the Data Management Global Competency Center at Louis Dreyfus Commodities. “After an exhaustive search process, we found that Orchestra Networks’ EBX5 was the only MDM software that could handle the complexity of our counterparties and their multidomain hierarchies while providing a path towards process standardization.”
“We’re honoured to have been selected by Louis Dreyfus Commodities for their counterparty master data management program. Increasingly, global leaders such as Louis Dreyfus Commodities are turning to Orchestra Networks’ EBX5 for their sophisticated customer master data use cases,” said Christophe Barriolade, CEO of Orchestra Networks. “They’re finding that there’s a strong need for hierarchy management, governance and, of course, the multidomain relationship management we have in EBX5.”
About Louis Dreyfus Commodities
Louis Dreyfus Commodities (www.ldcommodities.com) is a global merchandiser of commodities, a major asset owner and a processor of agricultural goods, with over 160 years of experience. Today they help to feed and clothe up to 500 million people, originating, processing and transporting approximately 70 million tons of commodities around the world annually.
About Orchestra Networks
Orchestra Networks (www.orchestranetworks.com) is a leading pure-play, independent master and reference data management software solution provider. Their EBX5 software enables business and technology users to model, master, govern and connect master data as diverse as customer, product, supplier, finance, HR, reference data, and more in a single end-to-end solution.
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