Advancement in technology and availability of cheaper storage capacity has lead to corporations large and small having the need to generate and maintain vast amount of data electronically.
In some cases, clients fail to retrieve valuable information from the vast amount of data stored either because of inadequate tools and know-how, or by simply not having the means to adequately process and consolidate the data and make sense of them. Some firms by law are required to store data for a period of time and also be able to produce the stored data in a format that can be easily understood when needed. A typical example of such firms are financial institutions around the globe which in recent times have seen increased regulation around their transaction data and are required to report transactions on a daily basis in most cases to governing bodies such as the FSA and BAFIN to mention a few.
Most of these firms usually receive transaction data from several sources (internal and external) including static data such as security and account information. On receiving data they are then required to consolidate, enrich (if necessary) and report the transaction data to the governing bodies (e.g. The FSA). Reporting these transactions in most cases does not follow a direct route as bodies like the FSA mostly consume transactions via Approved Reporting Mechanisms (ARMs). Most ARMs have further bespoke requirements, which make the entire process more complicated.
Firms having to tackle scenarios as mentioned above or similar, typically follow two major paths. Firstly, with access to revenue, they plan to adjust their existing processes, system(s) and infrastructure to fulfill the pending requirements; hence a new project is undertaken spanning a couple of years in worst case scenarios. Secondly, they may outsource the problem by bring in consultant firms to help meet the pending requirements. Both paths listed above are usually not cost effective and are known to expose firms to RISK and also deliver results that might be mundane on delivery.
DataBioSys was formed to enable clients meet their reporting obligations in a timely manner whilst saving cost, managing risks and having full transparency into their reporting processes.
With years of developing applications, the DataBioSys team has developed a system using cutting-edge technology to help clients meet their desired requirements quickly and painlessly. Problems are approached using the Agile methodology which has been proven to generate quick results, minimize risk and eliminate costly drawn-out implementations.
DataBioSys will ensure its clients avoid the traditional systems cost and longer deployment time, which often fails to deliver results to those that need it most; your business users and customers.