Data preparation platform modernization cuts costs and boosts data
BOSTON–(BUSINESS WIRE)–Pentagon Federal Credit Union (PenFed), a financial services company
that specializes in serving affiliates of the U.S. military, deployed
the Datawatch Monarch platform to modernize its data management and
analysis capabilities. This enabled dramatic time savings as a result of
simpler workflow mechanics and task automation capabilities from within
The Datawatch business intelligence deployment realized an ROI of 923%
with payback in only 1.2 months.
Founded in 1935, PenFed is headquartered in McLean, VA and maintains 50
locations globally serving 1.6 million customers. The company offers a
full range of financial services to members including home, auto and
personal loans, credit cards, checking and savings accounts. The company
had reached its end-of-support cycle for a legacy product and sought a
replacement that could handle growing data management and analysis
demands across its many office locations.
“The Datawatch Monarch platform lowered the total cost of ownership by
reducing the need for internal platform support and administration. It
greatly improved usability by replacing command line scripting with
drag-and-drop workflows. This is an excellent example of how low- to
no-code industry trends are improving how greater numbers of users can
modify and customize how they interact with a given platform,” said
Daniel Elman, analyst at Nucleus Research.
Key benefit areas seen as a result of the deployment include cost
savings from vendor negotiations, additional revenues generated by
greater Datawatch insights, a more collaborative and data-centric
culture and increased user productivity.
“Beyond the hard numbers, the adoption of a more data-literate company
culture fostered a greater level of trust in users’ ability to access
and understand the data they need with an overall higher degree of
confidence in leveraging data to support business decisions,” said Elman.
Nucleus Research analyzed the costs of software, hardware, personnel,
professional services, and user training over a three-year period to
quantify Pentagon Federal Credit Union’s total investment in Datawatch
technology. Direct and indirect benefits were also quantified over the
three-year period. Direct benefits quantified include the cost savings
realized from data-backed negotiations with the vendor.
About Nucleus Research
Nucleus Research is a global provider of investigative, case-based
technology research and advisory services. We deliver the numbers that
drive business decisions. For more information,
visit NucleusResearch.com or follow us on Twitter @NucleusResearch.
Chris McManus, 917-324-0808