London, 31 March 2021 – Leading data automation company Duco today announces the release of its new cloud-based data preparation product, giving non-technical users in mission-critical and regulated environments the ability to bring together data from disparate systems and sources without coding, and thereby accelerating their digital transformation journeys.
Large companies with mission-critical data such as in financial services, insurance, telecommunications and healthcare are facing continuing challenges due to the complexity of accessing and using their core operational and business data. Gartner estimates that each organisation loses $13.3 million per year thanks to poor data, while MIT Sloan School of Management estimates that organisations lose 15-25% of their annual revenue.
To address their data challenges, companies are frequently forced to choose between nimble new tooling aimed mostly at analytics on the one hand, and highly reliable, tech-heavy core processing systems on the other. Duco delivers the best of both worlds, by providing a platform with best-in-class usability and a high degree of governance and control. The new data preparation product extends Duco’s reach by:
- Making the legacy estate universally accessible, through machine learning acceleration, a data-agnostic approach and natural-language-driven data transformation, tried and tested by Duco in tens of thousands of projects in the most demanding environments
- Covering a wide range of use cases, from customer onboarding to system migration, regulatory reporting and data quality improvement
- Solving core auditability and governance issues that are introduced when end users are given power over change. New solutions can be built with immediacy, but stand up to audit scrutiny, with clear lineage and attribution of actions and versions
Christian Nentwich, CEO of Duco, said, “We believe that by bringing a live-in-24-hours approach to previously very disparate areas such as data preparation, data quality, reconciliation and data governance, our customers will benefit tremendously from easier and faster access to clean data. Use cases are wide, ranging from creating a single view of the customer to operational transaction processing. This is the next generation of data management, replacing the expensive, project-led on-premise approaches of the past with a cloud-native platform.”
Duco Data Prep is live with 16 early access clients and will be available to the market in the second quarter of 2021.