Data warehousing is a concept which has gained mainstream acceptance over the last decade. What is essentially a data repository created to improve reporting, provide meaningful information to the business and provide the ability for decision makers to analyse data as and when required, has resulted in the following benefits...

• provided many organizations with a strategic advantage

• improved the identification of, and response to, market changes

• improved corporate decision making

• improved understanding of who the customer is and underlying business dynamics

A data warehouse reduces the complexity found in transactional or operational data and contains information useful to business people without the need for extensive interpretation. Generally data warehouses are complemented with a “business intelligence” product which assists in the extraction and reporting of data. Most business intelligence products allow the user the ability to view information graphically, change the parameters and filters of the report and provide levels of summarization with the ability to drill into the detail.

Finalysis is a data warehouse solution for T24 systems. The product liberates the organization from the T24 reporting restrictions and provides a platform for information delivery which can significantly enhance decision making. Click on this link for a schematic regarding the positioning of Finalysis within a T24 environment.

Finalysis manages all components of data warehouse lifecycle viz.

• extraction of data,

• transformation and correction of the data,

• loading of the data into a SQL based database

• the production of reports

• distribution of reports across the Internet or Intranet.

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Benefits of the data warehouse include…

• Eradication of Balance Mismatch problems in the Balance Sheet and Income Statement

• Removal of all differences in the system caused by the erroneous balances within the General Ledger.

• Enabling the bank to produce one consolidated view of information of all operational systems. Data from other systems like Accounting, Payroll or Fixed Assets can be integrated into Finalysis for reporting purposes.

• Improved management reporting and data mining capabilities. Report dimensions and filters may be changed Interactively allowing exploration of the data. This assists in highlighting trends, analysing problems or aiding business understanding. As an example, attempting to analyse a bank’s arrears portfolio by various criteria would be difficult utilizing T24 reporting capabilities only.

• Simple interpretation of reports. Complex graphical reports with the ability to drill down into the detail may be created easily and as required.

• Enhanced ability to effectively re-run a Trial Balance, Balance Sheet, Income Statement or budget analysis for a period in the past. This is especially of value for back dated corrections which are problematic within T24. After a year end is run, it will possible to raise corrective back-dated transactions in T24 and to automatically re-compute the year end results.

• Future business requirements may require the bank to offer internet banking services in order to allow clients the ability to view their statements online. In order to minimize security exposures and instability to the operational T24 system this data may be obtained from the data warehouse.

• Enquiries done on T24 during peak periods or while a day end/month end is running impacts system performance. Using the data warehouse for enquiry purposes removes some of the workload from the operational system and also allows more complex queries to be run without affecting operations.

• Reports users may be access their reports via the Intranet or from any location in the world via the Internet (with the appropriate security restrictions).

Lastly.... Finalysis is preconfigured for a T24 banking environment and can be implemented in a short space of time.