Introducing Vality WAVES - for Worldwide Address and Postal File Verification; Ensures Address Accuracy in Extensive Multi-National Files for Better Customer Linkage.Business/Technology Editors BOSTON--(BUSINESS WIRE)--Oct. 16, 2001 Vality(R) Technology, Inc., the leader in enterprise data quality management solutions, today introduced Vality WAVES(TM) (Worldwide Address Verification and Enhancement System). These new options for Vality's INTEGRITY software enables companies to standardize, verify, and correct extensive, multi-national address data against postal reference files- for better customer communication and linkage worldwide. "With Vality WAVES, Vality extends our industry-leading INTEGRITY solution to address the growing data quality challenges of today's global business," said Mark Atkins, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Vality. "Its accuracy in address verification results in less costly, more effective mailing. But, more important, Vality WAVES meets the need of multi-national companies for quality and completeness in critical customer and other business entity data - to support and optimize the performance and ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). of their customer relationship management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ), data warehousing See data warehouse. data warehousing - data warehouse , business intelligence (BI) and other strategic IT investments." Vality WAVES: A Closer Look Vality WAVES uses Vality's probabilistic (probability) probabilistic - Relating to, or governed by, probability. The behaviour of a probabilistic system cannot be predicted exactly but the probability of certain behaviours is known. Such systems may be simulated using pseudorandom numbers. matching engine, which can link even non-exact matching records, to deliver the most accurate, complete matching and verification of input address information against reference files available today. Based on this record linkage Record linkage (RL) refers to the task of finding entries that refer to the same entity in two or more files. Record linkage is an appropriate technique when you have to join data sets that do not have a unique database key in common. , Vality WAVES can then correct spelling, add missing data, make other corrections, and assign two-and three-byte ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. country codes. In addition, Vality WAVES provides the most comprehensive international address capability - delivering the largest country postal verification file in the industry. Vality WAVES also streamlines the process of ensuring address completeness and quality for users. It provides users with pre-built procedures for standardization, verification, and correction, which they configure through an easy-to-us GUI (Graphical User Interface) A graphics-based user interface that incorporates movable windows, icons and a mouse. The ability to resize application windows and change style and size of fonts are the significant advantages of a GUI vs. a character-based interface. that insulates them from the complexities of the underlying processing. Vality's flagship INTEGRITY software gives companies control over data quality and enables them to re-purpose operational data into strategic enterprise intelligence. INTEGRITY standardizes inconsistent, incomplete, and inaccurately input data; uncovers patterns and relationships; and consolidates views of customers, suppliers, vendors, and other entities - providing 100-percent visibility for better decision-making. About Vality Technology Vality Technology (www.vality.com (http://www.vality.com)) is the pioneer and recognized leader in data standardization and matching software as well as data quality consulting services. Its customers and partners include Global 5000 corporations in finance, healthcare, insurance, manufacturing, pharmaceuticals, retail, telecommunications, energy, and utilities, including Aetna U.S. Healthcare U.S. Healthcare is a now-defunct healthcare company. The logo had an apple. The merger with Aetna In 1996, the company merged with Aetna, calling it Aetna U.S. Healthcare. The U.S. Healthcare apple logo was next to the Aetna name, and U.S. Healthcare under it. U.S. (R), IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) (R), Marks & Spencer(R), NatWest(R), www.onlinesuppliers.com corp.(TM), Telstra(R), and UPS(R). These companies rely on Vality's patent-pending technology to develop and implement enterprise data quality management solutions for the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. . These solutions help companies re-engineer existing operational data and incoming real-time Web data to maintain high-quality enterprise data as well as achieve accurate, complete information on customers, suppliers and products and all their relationships for business applications. Vality was recently listed in Boston Magazine's Best Places to Work; selected one of the 15 Stars of eCommerce by eCom Advisory; and named one of the TOP 500 Software companies by Software Magazine. Except for the historical information contained herein, this press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risk or uncertainties. Future operating results of Vality Technology may differ from the results discussed or forecasted in the forward-looking statements due to factors that include, but are not limited to, risks associated with customer relations, such as the availability of Vality Technology products and services, customer implementation of products and services, relationships with third-party vendors and systems integrators, concentration of revenues in a relatively small number of customers, existence of errors or defects in products, ability to successfully manage growth, significant current and expected additional competition and the need to continue to expand product distribution and services offerings. |
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