Home Smart 100 2012 iRekon Data Reconciliation (SMART 100)

iRekon Data Reconciliation (SMART 100)

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The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.

iRekon Data Reconciliation (NSW)

This innovation initially came to life when…

Innogence was repeatedly asked to develop solutions for customers that ensured the data on which they were reporting was accurate and up to date. With the explosion of data volumes and the speed increases in which data can now be accessed it was increasingly critical that the data was accurate. Upon developing a solution that appeared to have a significant need by organisations, Innogence developed the solution into a product that can be rapidly implemented to meet organisations’ needs.

WHAT & HOW

The purpose of this innovation is to…

Provide a product to meet the growing demands around organisations requiring confidence that their data is both accurate and complete when making critical business decisions and reporting from that data.

It does this by…

Automatically reconciling the data between the source system and the target data warehouse from which the reports accept the data. The automated reconciliation is supported by notifications and alerts when there is an issue as well as a user-customisable dashboard to view whether data is accurate and up to date based on each individual user’s needs.

PURPOSE & BENEFITS

This innovation improves on what came before because…

Ensuring data was accurate and up to date meant custom programs had to be developed for each and every organisation. iRekon automates this process and allows organisations to leverage from a reconciliation library that is continually building in size. It also automates the reconciliation process and provides a complete audit history of events.

Its various benefits to the customer/end-user include…

Time savings due to automated checking and processing, confidence in the data through automated alerting and notifications, rapid adoption via simple user interface, supportability by leveraging off existing resource skills and audit compliance through logging and archiving formal process.

COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

Having people manually check data to see if it reconciled between the source and target. This was very time-consuming and costly and not always accurate. It meant the organisation could only be reactive based on the information they had rather than being proactive and gaining a competitive advantage.

Its predecessors/competitors include…

There are no known predecessors or competitive products. Until now, organisations have either manually performed this operation or tried to put in place processes that assisted them with it. This was always custom build.

TARGET MARKET

It is made for…

Any organisation that relies on the accuracy and completeness of their data when reporting and making critical business decisions from it. iRekon allows organisations to reduce costs by automating currently manual processes and providing a more timely process to allow the organisation to be more proactive and competitive. The tool is aimed at all levels of user including “C”-level executives by providing a simple-to-use and easy-to-access dashboard with results that can be viewed from all devices including laptops, tablets and phones.

DISTRIBUTION STRATEGY

It is available for sale through…

Innogence, where you can contact the Product Manager via the website www.innogence.com where all contact details and further details around the product are shown.

Our marketing strategy is to…

Leverage from the existing customers that have implemented the product and are already reaping the benefits from it. We are moving from a national sales strategy to a global strategy of sales through channel partners and alliances.

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