EPMware Success Story: EPMware Restructures Paysafe Financial Metadata Processes

Background

Paysafe, a leading specialized payments platform company known around the globe for its flexibility and agility across multiple channels was struggling to align its internal financial metadata management processes.

As the organization’s metadata hierarchies fell further out of alignment across systems, more and more data integration failures occurred. These misalignments caused data reporting inconsistencies and process inefficiencies across multiple business applications that required time-consuming manual root-cause analysis and corrections to resolve.

To maintain the principles of agility, scalability, and customer centricity that Paysafe was founded on, it enlisted the help of AMOSCA, the highly regarded Oracle EPM consultancy, to find a metadata management and governance solution that would create consistent and accurate metadata across the Paysafe organization. Paysafe had very specific goals and objectives for this project—for example, centralizing metadata management for the financial systems in scope for a SOX review so the company could go public.

At a more holistic level, Paysafe wanted to increase its metadata management maturity level by implementing core maturity capabilities, including:

• The process is coordinated through a workflow tool.

• The account is added to a central metadata management tool after being approved and enriched by all the relevant stakeholder groups.

• Business rules are implemented at each step of the enrichment process to validate that the account meets all predefined data governance and formatting rules.

• The approved account structure is synchronized to downstream systems at the required frequency for each system.

After evaluating other solutions, including Oracle Enterprise Data Management (EDM) and Oracle Data Relationship Management (DRM), AMOSCA recommended that Paysafe select EPMware, a unified metadata management and data governance platform, to restructure its metadata management strategy, standardize change management processes, and synchronize metadata changes across all target systems and applications.

The Problem

Paysafe was fighting misaligned financial metadata across business systems.

Paysafe’s financial teams were fighting a losing battle against manual change management and metadata misalignment. The current metadata management processes were hurting the organization in three key areas.

Additionally, there was no segregation of duties in the administration of the finance systems, so the developer of a change in dev/test could also implement the change in production.

Even when proper IT controls were in place, the metadata for each downstream system had to be aligned manually, so the IT controls needed to be repeated for each deployment.

Perhaps the most severe challenge was that the governance process within JIRA, the company’s change management tool, did not prevent unapproved changes from being deployed to production.

The Solution

EPMware’s unified MDM and data governance brings metadata into alignment. 

Paysafe created a comprehensive list of functional and technical requirements for its new metadata management solution, including:

• Configurable approvals workflow
• Out-of-the-box adapters
• Configurable validation rules
• Versioning capabilities
• Rollback capabilities
• Rollback capabilities
• Scalability
• Automated UAT and production deployment
• Centralized environment
• Facilitated hierarchy changes
• Mass member updates
• Configurable security model 

The team from AMOSCA used their experience with Oracle Hyperion applications, financial accounting, budgeting and planning, and consolidation systems to help the Paysafe team evaluate different options to make an informed decision.

Not only did EPMware bring Paysafe’s metadata hierarchies into alignment and reduce integration failure rates, but the all-in-one metadata management and governance platform also enabled collaboration between divisions to centralize the governance of finance metadata into a common corporate view and increased the organization’s overall metadata management maturity level.

The Results

Centralized metadata change management reduces integration failures and increases data quality.

Before implementing EPMware’s metadata management and data governance solution, Paysafe essentially had a maturity problem. Metadata changes were made manually, change deployments were slow and unreliable, and there was little to no oversight to ensure the integrity of the organization’s metadata.

With AMOSCA leading its implementation of EPMware, Paysafe has elevated its metadata management maturity by several levels with out-of-the-box integration with the company’s existing business applications, automated workflows, and real-time validation that ensures data consistency and accuracy across all systems.

After introducing EPMware into its tech stack, Paysafe is seeing clear improvements across business processes and workflows, including: