As a non-profit community adhering to smart and efficient stewardship of its dollars, Marbridge knew hiring a temp agency to manually key in all the payroll data was not ideal. But that option was rife with complications, costs and risk due to inevitable human errors. Each employee report filed late or containing errors was subject to a penalty ranging from $100 - $250. "I'm estimating our exposure at up to $40,000 in penalties," Erps said.Using Datawatch with a customized template to extract the necessary IRS-required information, Erps' team was able to extract and clean both current and historical payroll information locked in the PDF files quickly and automatically. "Datawatch has been incredibly successful for us. I conservatively estimate that we have saved 2,000 to 3,500 man-hours so far. And we saved additional money by not having to upgrade our software and hire extra temporary staff," Erps said. Datawatch is unique in its ability to automatically extract and prepare data locked in a wide range of report formats including PDF, XML, HTML, text, spool and ASCII files, enabling organizations like Marbridge to pull in virtually any kind of structured and unstructured data from things like payroll records, invoices, sales reports, balance sheets and customer lists with speed, efficiency and accuracy. Because virtually any data set will contain some errors, confidence in the resulting data was also critical to Erps. As a former accountant, he's inherently risk averse to government audits. The automated data preparation capabilities of Datawatch include more than 80 pre-built functions designed specifically to clean and transform incomplete, inaccurate data into an accurate, analysis-ready form with a few clicks. With the ACA reporting requirements now under control, Erps sees new opportunities for incorporating Datawatch across multiple data preparation needs within his organization's HR and financial processes. He plans to use Datawatch to scan in all employees' historical W2 forms and link it to their HR files so that they can have one central repository for all payroll information. With the organization adopting a new 401K program, he also sees Datawatch aiding that transition as well.
"Datawatch has saved us so much time and money it's hard to even quantify. And besides all the monetary savings, it has given us the ability to create one place to go for all the answers. So the next time someone in the organizations asks for all the payroll information for the past 2 years, we can instantly give them what they need," he said.About Datawatch Corporation Datawatch Corporation (NASDAQ: DWCH) provides the only Managed Analytics Platform that brings together self-service data preparation with visual data discovery. Its software bridges the gap between the ease that business user's demand and the automation and governance needed by IT. Users can quickly discover key factors that improve their business by transforming data from multi-structured sources, as well as real-time streaming data, into visually rich analytic applications. Organizations of every size, worldwide use Datawatch products, including 93 of the Fortune 100. Datawatch is headquartered in Chelmsford, Massachusetts with offices in New York, London, Frankfurt, Stockholm, Singapore, Melbourne and Manila, and with partners and customers in more than 100 countries worldwide. Learn more at www.datawatch.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any such statements contained herein, including but not limited to those relating to product performance and viability, are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. The factors that could cause actual future results to differ materially from current expectations include the following: rapid technological change; Datawatch's dependence on the introduction of new products and product enhancements and possible delays in those introductions; acceptance of new products by the market, competition in the software industry generally, and in the markets for next generation analytics in particular; and Datawatch's dependence on its principal products, proprietary software technology and software licensed from third parties. Further information on factors that could cause actual results to differ from those anticipated is detailed in various publicly-available documents, which include, but are not limited to, filings made by Datawatch from time to time with the Securities and Exchange Commission, including but not limited to, those appearing in the Company's Annual Report on Form 10-K for the year ended September 30, 2014 and Forms 10-Q for the quarters ending December 31, 2014, March 31, 2015 and June 30, 2015. Any forward-looking statements should be considered in light of those factors.
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Investor Contact: Datawatch Investor Relations email@example.comPhone: (978) 441-2200 ext. 8323Media Contact: Sarah BernardiDatawatch CorporationSarah_Bernardi@datawatch.comPhone: (978) 441-2200 ext. 8387Twitter: @datawatch