Heller Bank installs Monarch data mining software

Source: Datawatch Europe

Datawatch Europe has successfully solved the problem of how to analyse debtors and creditor reports at Heller Bank, Germany, saving the organisation time and money.

The sale of Monarch into Heller Bank is part of the continued growth into the German financial market by Datawatch of their market leading range of data mining software solutions.

Heller Bank is one of the top factoring banks – nationally and internationally, with a reputation as one of the oldest and most successful factoring banks in Germany. Heller buy and finance accounts receivable, maximising clients risk protection. Factoring optimises resources, making it a particularly attractive option to expanding, medium-sized companies as it minimises their risk of default and increases liquidity. This ultimately strengthens their competitive position.

The nature of Heller's business generates a need to produce reports which enable them to analyse unpaid items against debtors. Most organisations possess large amounts of archive data which holds the key to valuable knowledge. The problem is, how do you obtain the relevant information without having to wade through reams of computer printouts; spending hours re-keying data or asking an overworked IT department to commit valuable time and money in producing special reports?

The simple, cost effective answer is "with Monarch". Monarch is a unique and easy-to-use data access and analysis software tool which provides a fast, convenient way of exploiting corporate information. Routine tasks which take days can be finished in hours. Monarch transforms data, which in Heller's case is in variable format depending on clients, such as - PDF, TXT, RTF, XLS, CSV and DOC into live data, which can then be exported as an Excel file. Once extracted, the Excel file can then processed in an Access program to produce a total overview of the open items list with a time track of the payment due dates, allocation, and limits and counterclaim analysis of individual or groups of debtors.

Monarch is able to display reports on screen with the same look and feel as hard copy print outs – users can zoom, scroll, page, jump and even turn on a greenbar display. Once templates have been used to extract the relevant data, Monarch is able to create custom reports, including charts and graphs, in a variety of formats and send formatted data to a spreadsheet, database or other desktop applications.

Mr. Reinhard Möst at Heller Bank says: "One of the most useful features of Monarch is the ability to extract and process data from reports by identifying simple patterns in the text based on characters, numbers and/or empty spaces. He goes onto comment "Monarch can reduce the amount of work even for simple reports, but the most significant feature of Monarch for us at Heller Bank is that we are able to extract the data correctly from any file."

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