CAPCO NAMED BY EDM COUNCIL AS AN INAUGURAL AUTHORIZED PARTNER FOR CDMC INDUSTRY FRAMEWORK
LONDON, December 16, 2021 – Capco, a Wipro company, a global technology and management consultancy, has been named an inaugural member of the EDM Council’s newly-announced Authorized Partner Program (CAP) for its Cloud Data Management Capabilities (CDMC) framework.
Described as “a watershed moment for cloud data management” by Mike Meriton, COO and Co-founder of the EDM Council – the global association created to elevate the practice of data management and analytics as a business and operational priority – the CDMC was launched in September 2021 and offers a comprehensive framework for evaluating cloud data management capabilities to instil greater trust and accelerate cloud adoption.
CDMC is comprised of six components, 14 capabilities, and 37 sub-capabilities that allow companies to effectively manage their cloud, multi-cloud, and hybrid-cloud environments. The six components encompass data governance and accountability, cataloguing and classification, data accessibility and usage, data protection and privacy, data lifecycle, and technical architecture. In addition, CDMC includes 14 key controls for managing sensitive data in the Cloud.
As part of the EDM Council's CDMC Workgroup, Capco provided project management support during the CDMC’s 18-month development period. Chaired by Morgan Stanley and LSEG, the Workgroup comprises over 300 subject matter experts and 100 companies representing leading financial industry firms, consultancies and technology companies, including Amazon Web Services, Google Cloud, IBM and Microsoft.
Chris Probert, Partner and Data Lead at Capco, said: “Cloud is without question the biggest current opportunity for banks, but it also presents a big regulatory and compliance challenge. The involvement of leading cloud providers and banks in the CDMC initiative underlines just how an important our industries view the need to derisk companies’ current and future cloud journeys. Capco is extremely proud to be part of this collaboration: CDMC will play a vital role in ensuring that this hugely transformative transition to the cloud environment takes place in a smooth and safe fashion.”
The CAP is a support program for companies that wish to engage in an independent assessment or certification of their cloud data management capabilities. Professionals from the CAP partner firms are trained and certified by the EDM Council and are licensed to deliver CDMC-based assessments and certifications.
Formally announcing the CAP on December 15, the EDM Council’s Mike Meriton noted that prior to the CDMC “there was no cross-industry standard for companies to analyse and measure these key data management capabilities, which are becoming pivotal with greater cloud technology sophistication and broad industry adoption”. “[The Program] helps companies independently evaluate their cloud initiatives to assure they can accelerate their cloud journey with trust and confidence,” Meriton continued.
