Introduction to Multi Company Closure and Data Cleardown
Temenos Transact architecture enables the setup of multiple companies within a single instance, allowing them to operate independently or share records and specific files as required.
The MCDCLR (Multi-Company Closure and Data Cleardown) feature ensures the secure closure of one or multiple companies within a multi-company Transact environment, followed by the removal of relevant data after a configurable retention period.
The key aspects of the functionality are:
- Data Retention with Controlled Access - During the retention period, the system allows optional restricted read-only access for authorised users.
- Regulatory Compliance - Efficiently addresses data privacy and compliance requirements by ensuring the timely removal of inactive company data, minimizing the risk of non-compliance.
- Cost Optimisation - By removing obsolete data and company instances, the feature reduces unnecessary storage costs, particularly in SaaS environments.
This functionality is particularly valuable in Business-as-a-Service (BaaS) or Software-as-a-Service (SaaS) implementations, where it ensures proper company deactivation and effective data management when agreements come to an end.
Clearing Down of Companies Marked as Deactivated
Previously, Temenos Transact did not have a dedicated module for managing company closures and data. Instead, an existing mechanism allowed users to manually set the Deactivate field to Y in the COMPANY application, rendering companies inactive. This process prevented further contracts or updates from being processed for the deactivated entities.
The Company Closure functionality allows the system to automate the update of the Deactivate field. This field is updated automatically when the system processes a Closure Request, replacing the need for manual intervention
Business Events
When the Emit Business Event field in MS.PARAMETER is set as Yes, the business events representing the state change are emitted.
The following business events are emitted for Static Information data or Reference data tables.
| Business Event | Description |
|---|---|
| ReferenceData.closeCompany.companyClosureRequestApproved | Event to be emitted when a Company Closure Request is authorised. |
| ReferenceData.closeCompany.companyClosureRequestCancelled | Event to be emitted when a Company Closure Request is reversed. |
| ReferenceData.closeCompany.companyClosureRequestModified | Event to be emitted when a Company Closure Request is modified. |
Illustrating Model Parameters
Model Parameters are not applicable for this module.
Illustrating Model Products
Model Products are not applicable for this module.
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