VERILYTICS' CLIENTS WANT TO KEEP THEM A SECRET

At a trade show sponsored by the Securities Industry Association, technology company Verilytics Inc introduced a new software product that serves as "intelligent infrastructure" for the front office of an investment or securities firm. The product, called the Verilytics Analysis Engine, includes a "dynamic monitor" that alerts financial professionals to events or "exceptions" which might be mission-critical, explores market opportunities using comprehensive drill-down tools, and creates reports in real-time.

Shikhar Ghosh, Verilytics CEO and founder, said, "Our clients who have employed earlier versions of this product have gained a competitive advantage because they've learned to manage data in strategic and innovative ways. In fact, they'd like to keep us a secret."

Developers and engineers who worked in both technical and business positions at financial services firms such as Fidelity Investments, Merrill Lynch, PaineWebber, and Thomson Financial created the Analysis Engine. Designed for knowledge workers such as portfolio and asset managers, the product is described in detail in a new white paper from Verilytics, now available at www.verilytics.com/amwhitepaper.

Mystique Around Numbers, Spreadsheets, Data

"With the proliferation of business data in recent years, analytical exercises have turned into time consuming and costly technical expeditions. Consequently, there's an unnecessary mystique around numbers, spreadsheets and charts," Ghosh said.

According to Ghosh, such problems result from three main factors. First, most applications now in use are data-driven as opposed to user-driven. Second, they lack either real-time updates or interactivity. Third, there are no easy ways to integrate heterogeneous data from multiple systems (static, real time).

"Verilytics solved these problems by paying close attention to several key requirements," he said. "Since businesses have invested tremendous resources in their information systems, we knew that any new solution must leverage these existing investments. Also, in order to better serve the needs of business users, we understood a new solution must easily incorporate proprietary business rules along with the user's individual domain knowledge."

Finally, to deliver real value, the system must allow users to explore the information and uncover hidden opportunities for performance improvement or risk reduction. "Our Analysis Engine achieves all these goals," said Ghosh.

The Importance of Analytical Software

Recent industry research demonstrates the growing importance of analytical software to an enterprise. According to a May 2001 Forrester Research report, "Turning Data into Dollars," many IT systems are rigid and complex and therefore unable to provide users with the truly relevant analytics they need to make decisions.

Ghosh notes that the Analysis Engine processes information in real-time and can be used in many incarnations -- as a reporting platform, as a dynamic console for monitoring business processes, as an exception management system - or all such functions rolled into a single unit.

About Verilytics

Verilytics Inc, founded in 1998, is based in Burlington, Mass. Clients such as Avon Products, consumer lender Household International and Wakefern Food Corporation use the company's technology to aggregate, analyze and deliver business-critical information to customers, employees and partners. Led by veteran entrepreneur Shikhar Ghosh, and backed by investors such as Moore Capital Management and NETinvest Holding AG, Verilytics is privately held. For more information, visit www.verilytics.com.

Contact Kirsten Lewis of Verilytics, 781-238-9215, klewis@verilytics.com.