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SGP International Announces New Data Reconciliation Solution

DataCheck helps reconcile, manage and review data quickly and easily.

June 18, 2002 – New York City. SGP International, Inc., a leading developer of departmental data reconciliation and custom designed data management solutions, announced today the release of DataCheck, a Data Integrity Assurance System that assists financial organizations in reconciling data through a simple, positive query system. DataCheck accomplishes tedious tasks and creates an efficient, accurate and consistent knowledge base of corporate information in a matter of minutes, instead of hours or days.

"DataCheck successfully minimizes the task of finding inconsistencies and leaves the user to concentrate on resolving issues," said Evan Brodie, SGP International's president and founder. "It allows the user to focus on the end-results rather than on the data."

DataCheck is designed to help financial organizations address the challenges of synchronizing data and ensuring the integrity of the data that is stored in diverse databases and file formats. The process of reconciling data can be time consuming and fraught with error, whether an organization uses a middleware solution to move records from a front office system to a back office system or manually re-enters the data into different systems. DataCheck complements either of these methods and makes the act of reconciling the data accurate, simple and easy.

A DataCheck user, knowledgeable in his or her company's business practices, simply applies positive criteria for valid records against the data using common sense English-language reconciliation rules. DataCheck automatically rewrites these rules into standard SQL queries. After running a query, DataCheck presents the results or the inverse result set, allowing the data to be divided into matches and inverses or errors. These queries, or data views, can be set up to be part of the company procedures and the same output can be displayed in a variety of different formats for review.

DataCheck is an XML based system that allows a user to reconcile any data. Users can create an unlimited number of projects based on multiple sets of rules or they can simply take two files and compare them against each other. DataCheck can take any data and apply a financial organization's rules to that data. For example, DataCheck allows a bank to compare its customer file to its lending portfolio to ensure that there are no errors in the customer information in the portfolio database.

DataCheck is available immediately with a base price starting at $55,000 for a single license. With a typical implementation, consulting service costs will match the single license base price and include installation, training, and the completion of a project. Single user, standalone systems are also available.