DataCOLLECTOR, Report Generation Tool, Data Collection Technique

The Product

DataCollector is a web-based electronic data submission and report generating system for banks, large corporate and any apex organisation, which allows end users to manage the entire process of information collection – right from creation of forms required for data submission to generation of reports by using the application interface.

The Challenge

In today's dynamic world, the efficiency of any regulatory supervision system depends on the access to right data at the right time. If a regulator or any apex organisation needs to urgently collect data that does not form a part of the standard data collection format, and regulated entities, then there is a requirement of a system that allows them to provide the requested data seamlessly. The regulator's need encompasses information management, collation, validation, report generation, analysis, and correlation with other datasets in a secure environment capable of warning users based on trigger values for different ratios, KPIs, and KRIs.

Solution

DataCollector addresses all formats of data submission, with multiple methods for uploading the data, including excel. It uses a flexible 3-tier modular architecture that can generate parameterised reports and ratios based on the submitted data. DataCollector can also define threshold values for a trigger ratio that automatically warns users when breached via an SMS and an Email. There is peer group comparison report functionality together with tools to analyse data submitted by a given user or a selected group of users and to generate sector, regional, and country reports. The application is secure and has a user profile-based home page with a detailed audit trail capability.

The Technology

The DataCollector software is Java based and the back-end can be used either in SQL or Oracle.

Value Addition

Entities (say, banks) submitting data to the regulator, only need a browser to access the application using a secured connection to the data center hosting the application. They also have the facility to retrieve any data that they have already submitted.

Features

Platform

DataCollector is a web-based system for data submission by user, be it banks, individuals, corporate entities, own business units or branches that would obviate manual entry of data, paper‐based form or ad‐hoc excel form, and allow data to be uploaded to a database seamlessly

Efficient

DataCollector reporting functionality includes the capability to create a peer group comparison report, and temporal analysis of items submitted by a given user or a selected group of users. The system also generates aggregate reports at sector level, regional level and at the country level

Network

DataCollector has capability to generate automatic alerts whenever a given item submitted by a user crosses a threshold level. The system provides online help, guidelines, and business rules used to create various surveys, questionnaires, and forms, etc

Flexibility

DataCollector allows creation of pre-formatted and ad-hoc reports based on data submitted by users. Any other derived data would be calculated by the system itself as and when such data is uploaded into

Performance

Support

DataCollector can be used for online distribution of pre-inspection surveys/ questionnaires to a group of users, and submission of the same by the latter directly into the system

Engine

DataCollector allows multiple methods of submitting data into the system like EXCEL upload and online form-based upload

Security

DataCollector ensures data security, password protected access, and user profile-based home page. The system has detailed audit trail capability

FAQs

1. What is DataCollector?

A. It is a web-based software focused on information collection, monitoring of collection process, aggregation and providing reports. It helps apex organisations to access right data at the right time. It is useful when data required for enterprise decision-making is not available in ERP / Core Banking or any other production system and needs to be collected from different operational units.

2. What kind of organisations should use it?

It is suitable for Regulators / Apex organisations such as government / semi-government departments, a large enterprise, or any survey agency which requires collection of data from downstream entities and processing the same to generate various reports 24x7.

3. How DataCollector can help organisations?

Once DataCollector is installed in an organisation, the branches / downstream entities can upload the information using just a web browser. The data is captured at the apex organisation / central offices, processed, and the required Regulatory / MIS reports are generated. DataCollector will collect any kind of structured data and at any frequency that the organisation requires. DataCollector helps an organisation centralise DataCollector processes in a single repository cutting across departments, divisions and subsidiaries.

4. Does DataCollector allow different methods of submitting data?

Yes. It allows different methods of data uploads, such as EXCEL and online form-based uploads. The system also enables the apex organisation to instantly create formats or questionnaires for data requirement and publish it (make available in the system) for regulated entities and branches to respond.
It also provides notifications and reminders through e-mails and SMSs.

5. How do i deal with new requirements of data? Do i need to approach vendor/s to generate temporary reports that may be required from time to time?

No. The user can effortlessly customise / create forms / reports and publish the same without the involvement of vendor/s. This will shorten the data collection process and also help expedite the decision making process for the management.

6. How safe will be my data?

DataCollector uses the following information security standards for maintaining high level of security and confidentiality of data:

User management is based on Role Based Access Rights (RBAR)
Maker / Checker functionality helps to authenticate transactions
Audit Trail reports are available to verify and track any previous transaction
Password Management with encryption to authenticate the users
Single Sign-on can be implemented across the organisation for the Application
User-friendly interface for ease of the end-user

7. Will DataCollector provide reports / MIS?

Yes. DataCollector can be used to generate different reports, such as aggregate reports, branch-wise reports, submission summaries, and audit trail reports. It can also be used to generate different derived ratios. The reports can be presented graphically for better understanding.

8. How does the system ensure the submission of correct data?

Complex validation and data quality enforcement rules can be created at the time of format creation. The application checks these rules at the time of data submission and ensures submission of correct data. Validation rules can be based on comparison of currently submitted vis-a-vis earlier submitted data or another set of data available to the Apex organisation. Maker-checker facility is available at the time of submission. Further, it enables Apex organisation to reject the data in case of discrepancies / inconsistencies.

9. What is the workflow of DataCollector application?

10. How flexible is DataCollector?

The flexibility of DataCollector lies in its ability to handle variety of data collection formats - tables with multiple columns with formulas across columns, tables with variable number of rows, etc. The system allows full flexibility in the format of data collection and mode of submission.

11. Who and how many people in the organisation can simultaneously use DataCollector?

DataCollector does not have any inherent restriction on the number of users of the application. It supports up to 250 concurrent users.

12. Does DataCollector provide analytical tools?

Yes. The application has a powerful analytical expression building capability, using which, users can define new financial ratios and other performance indicators based on the data items collected for example - Ratio of Current Liability to Current Asset, Credit-Deposit Ratio, etc.

13. What are the additional modules/ functionalities available on DataCollector?

Inspection Module: This module facilitates capturing of information about inspection schedule, budget and recommendations prepared at RO level.
FATCA: This module facilitates ("FIs") to report information regarding U.S. accountholders and 'substantialonwers' to limit offshore tax evasion as per IGA module 1 or 2.
Risk Based Supervision Module: This module facilitates a forward-looking supervisory review process that depends on detailed risk profiling of the supervised entity. It enables the supervisor to prioritze and aiiocate supervisory resources according to entity's risk profile.

14. How does the solution architecture look?

Solution architecture diagram is shown below:

DataCollector

A software product to automate the life-cycle of data collection process