TO ALL:
Breakthrough Product from IA Corp. Allows Data Extraction from Reports and Statements; New Product Significantly Reduces Time Needed to Populate Data Warehouses
Business Wire - October 07, 1997 03:01
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PHOENIX--(BUSINESS WIRE)--Oct. 7, 1997--IA Corp. (NASDAQ:IACP), a leading software supplier in the banking and financial services industry, today announced a unique new product, InfoXtract, designed to enable organizations to extract data from the electronic files of printed reports or statements.
IA's unique, user-oriented software reads reports in both archived electronic files and live print streams and reassigns data to their corresponding computer data fields, directly supplying clean, usable data for populating Data Warehouses, performing OLAP (On Line Analytical Processing) work and indexing or mining COLD (Computer Output Laser Disk) files. These data can then be used to generate new information about customer behavior, cross-selling, sales statistics or operation performance.
Reports often contain data that are not available anywhere else. These data include totals, balances and lists of transactions, which represent very valuable information that organizations could not easily access. InfoXtract will offer a solution for accessing these data.
"Many organizations want to build data warehouses," said Thierry Leger, vice president of marketing at IA Corporation. "The problem is, where do you find meaningful, clean data? The answer is simple -- in the reports and statements sent to your customers every month. InfoXtract is designed to help users access these data."
The system provides high performance extraction, and can process over 400,000 report pages per minute. Extraction can be performed on Line Data and APA (All Points Addressable) formats, such as IBM's AFP. InfoXtract lets administrators create specialized templates to pull specific data, name certain fields of interest, identify the range of extraction and drop the results to a decision support tool.
IA's new product is designed to let users load their data warehouses with clean data from existing archived reports or live print streams. Data extraction is known in the industry to be a time consuming and expensive process, accounting for most of the cost and time of a data warehouse project, and usually requires heavy involvement of the IT department to complete the complex steps of extraction from current heterogeneous applications.
The demand for data extraction programs regularly exceeds organizations' ability to produce them. With InfoXtract, business users can select, directly from the reports, the data they want to store in their warehouse for later retrieval.
"InfoXtract is a new product concept that unlocks a previously untapped source of corporate data and makes it available for warehousing and analytical processing," said Bruce Silver, a California-based industry analyst.
In fact, the technology behind the product is so unique that IA has a patent pending for it.
InfoXtract can help with better decision making and business intelligence by directly providing clean data to OLAP tools. In addition, InfoXtract can provide a second life for COLD files. By using InfoXtract, an enterprise can more easily re-index COLD files fulfill new user demands.
InfoXtract helps the user search COLD files for embedded data, normally not accessible through regular COLD indexes. Business users can mine reports and data from the COLD files, enabling the same kind of searches that only data warehousing offers. With InfoXtract, users can extract data from their COLD files to populate data warehousing and OLAP tools.
"With data extraction from the reports, COLD users will have data warehouse-like functionalities. InfoXtract is a great addition to existing COLD applications," said IMERGE's Mason Grigsby, the leading consultant in COLD market.
IA intends to sell the product through distributor channels and is actively looking for resellers for its new product.
"OEMs or VARs for Data Warehouse technology providers should find great value in InfoXtract to enhance their current products," said George Houghton, IA Corp. channels development manager for InfoXtract.
IA Corp. will present InfoXtract for the first time at the DCI Conference in Phoenix, Oct. 7, 8 and 9, and demonstrate the product at Booth No. 522. IA currently plans to be ready to ship the product by the end of 1997.
"Large organizations interested in mining the mountain of data hidden in their huge volumes of regular print runs and archived COLD reports should definitely look into InfoXtract," concluded Bruce Silver.
IA Background
IA Corp. is headquartered in Emeryville, Calif. and listed on NASDAQ (IACP). The company develops, markets, implements and supports software solutions for financial services organizations that require flexible automation of high-volume, complex transactions.
The company currently sells two leading application framework software products for advanced cash management services and archive, CheckVision and RemitVision, which are built upon the company's advanced, client/server complex transactions management software platform, WorkVision.
IA offers scalable, enterprise-wide application framework software products that enable its customers to manage and automate their business processes from end to end. These software products are deployed through professional services that include comprehensive installation, training, ongoing maintenance, support and development services.
The company's customers include GE Capital Mortgage Corp., Harris Bank, Mellon Bank Corp., Sanwa Bank California, Ltd., UMB Bank, NA and Wachovia. IA is located at 1900 Powell St., Emeryville, CA 94608-1840, U.S. Telephone: 510/450-7000. Fax: 510/450-7099 Email: info@ia-us.com; Website: iacorporation.com .
Note to Editors: This press release contains forward looking statements based on the company's current expectations. Actual results could differ materially from the results anticipated in these statements as a result of the experience of any delays in the completion of the InfoXtract product.
For a discussion of additional factors which could affect the company's future performance, please see the company's Annual Report on Form 10-K for the year ended Dec. 31, 1996, "Item 1, Business-Risk Factors" and its Quarterly Report on Form 10-Q for the period ended June 30, 1997.
CONTACT: IA Corp.
Thierry Leger, 510/450-6816
Thierry.Leger@ia-us.com |
