Engage 2015 Coverage: Quest for IBOR Leads to Scottsdale!

In February, the world was introduced to Commodore IBOR – the enterprising adventurer in search of the “Golden” Investment Book of Record. Hopefully he made it to Scottsdale this week, because our afternoon session at Engage 2015 covered not only the key drivers for establishing an IBOR, but also how an IBOR can be leveraged to extend beyond its original deliverables – ie, the ROI that adds that golden shine to investment firms’ IBOR projects.

Speaking to a packed room, it became clear early on that achieving an IBOR can still remain an elusive target. And as one panelist noted, the very definition of an IBOR has begun to mutate.

This vacillating definition can probably trace its etymology back to the PR campaigns of some of the “new” solutions that fall short of meeting the core functions traditionally associated with an IBOR. (These are usually built off jury-rigged OMS systems or accounting systems that aren’t fit for purpose and don’t offer the granularity needed). Whatever the cause, the panelists highlighted that this renewed buzz is only creating more confusion and less understanding around the acute business needs that should be fulfilled when organizations achieve a true IBOR.

An hour was hardly long enough to capture all of the different ways the panelists’ have been able to leverage their IBOR, but in the time we had, each was able to discuss the efficiencies gained and value added as their organizations have quickly moved along the data management continuum. They discussed new ways that they’ve been able to build upon core functions delivered through an IBOR, such as cash management and reconciliations. But, as the panelists agreed, to do so requires a data-centric model that can seamlessly facilitate the build out of value-added, ROI-enhancing capabilities — from multi-basis accounting and data enrichment to analytics, equity and fixed income attribution, and the implementation of business intelligence and data visualization tools. One panelist even noted that his firm achieved the coveted “triple BOR,” establishing an IBOR, an ABOR and a PBOR, all from the same platform.

We haven’t even put a close to Day 1 in Scottsdale, and the Engage 2015 conference is already delivering the collaboration and insight that drives innovation at Eagle. So it’s time to get back at it!

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