A New Diasoft Solution Dramatically Improves Data Quality Assurance Procedures

Tuesday, May 21, 2019

Diasoft, a provider of modern software solutions for the global financial services market, has launched a new component of the FLEXTERA BI suite – Accounting Health Monitor. The product significantly expands data quality assurance functionality of the suite. Its efficiency has been already successfully tested and confirmed by a large financial institution from the list of the key Diasoft customers.
The Accounting Health Monitor is designed for control and verification of the bank’s accounting and analytical data. It provides an extended list of ready-to-use data quality control reports and also allows creating custom reports.
The product provides tools for detection and rapid correction of data errors in the accounting system and during integration of data. It can be used to monitor new operations and detect missing links between accounts and transactions. One of the advantages of the product is its ability to monitor incorrect and incomplete analytical data that can negatively affect the trustworthiness of automatic reports and complicate managerial decision-making. 
The product uses enterprise-grade data visualization and analysis tools and a single data warehouse that accumulates data from multiple sources. This approach to the architecture ensures correct generation of reports and mitigates potential regulatory risks of a financial company.
“Our new product ensures that the bank works with clean and structured data that have successfully passed their ‘health assessment’. The monitoring system collects data health parameters on the ongoing basis. This allows immediately comparing the ‘before’ and ‘after’ state of the data using multiple parameters, detect discrepancies and take measures to stop accumulation of accounting errors before they turn into a big problem that will compromise the reporting”, commented Olga Shiryaeva, Head of Product of the BI, Accounting and Reporting Division at Diasoft.

FLEXTERA BI is a specialized platform for creating, modifying and running business intelligence applications used for the multidimensional business analysis. The solution is specially designed to fulfill all the functions associated with business intelligence tasks of a financial institution and provides comprehensive instruments for financial performance analysis, management reporting and regulatory reporting.
The solution is built on JavaEE technology in full compliance with SOA principles and uses enterprise-class components from the global technological leaders — SAP, Oracle, and IBM, together with unique analytical instruments developed by Diasoft to deliver the most advanced business intelligence capabilities for the improved analytical insight and decision making.