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31ST AUGUST 2004

Data Mine to Avoid the Fine

Datawatch announce that with immediate effect, they are able to offer a solution to all UK Directors and Auditors on how to help avoid fines resulting from the latest compliance issues, with no investment in new technology.

The solution is already sitting on many office shelves throughout the country, you just need to dust it off when you have found out why you need it and follow the instructions.

Sales of premium wines and Cuban cigars will go into reverse on the news that the U.K. government has decided to freeze any plans to cap negligence claims against company directors – or for that matter auditors of collapsed client companies - until after the next general election.

Although private briefings suggest that the government wishes to limit the penalties, political expediency dictates that they do not wish to be seen as favouring ‘Executives’ at vote gathering time.

This means that those with Board level responsibilities – and their auditors – need to be in total control of existing data and to provide accurate reporting information. The prospect of not being able to do so is truly frightening. The danger is accentuated by the fact that this problem may fall between the skills of IT and the Finance department rather than only one section taking full ownership of the issue.

Research suggests that many organisations are prepared to invest substantial seven figure sums on expensive new technology to combat this new compliance minefield and there are many software suppliers ready and willing to accommodate them.

Happily, the Datawatch range of products based around world famous Monarch data mining software is designed to extract, interrogate and export a full range of report options from existing systems. This means that there is a speedy, understandable and cost effective option for those who are prepared to look a little further than the immediate knee jerk option to just throw money at the problem.

Rob Graham, Product Manager of Datawatch Europe, explained “The good news is that the information which is required to keep Directors and their Auditors out of the courts already exists within their database. Data Mining software allows them to regain control over their business process management without large capital investment in yet more technology”. Graham pointed out that his products added value by avoiding the problems of burdening staff with a whole new system. He confirmed that any competent Excel user would be showing an early return on investment for the organisation with their product range.

This remarkable and effective range is available to meet the needs and budgets of smaller organisations, those where automated business process would be vital as well as offering an enterprise wide version. Good news for those threatened by this real and present danger – and maybe for shippers of quality wines and cigars once decision makers become aware that there is a cost effective alternative by taking the time to data mine.

About Datawatch Corporation
Datawatch Corporation is a leading provider of business intelligence and IT support solutions that help organisations increase productivity, reduce costs and gain competitive advantage. Datawatch products are used in more than 20,000 companies, institutions and government agencies worldwide, by around 500,000 users.
Datawatch works with VARs, integrators, consultants and independent software vendors who sell and support Datawatch products. In addition, Datawatch works with OEM customers who embed Datawatch components and technologies in their own solutions.

Further information can be found at

Datawatch Corporation
Press Information
Alison Hall, Public Relations
Tel: 07899 986932

Datawatch Europe Ltd
Rob Graham
U.K. Product Manager
Tel: 01962 835014

This press release was distributed by ResponseSource Press Release Wire on behalf of Alison Hall PR in the following categories: Personal Finance, Business & Finance, Computing & Telecoms, for more information visit