Bedford, MA—January 20, 2016—Binding Site, the world leader in special protein diagnostics, is saving hundreds of man-hours daily and hundreds of thousands of dollars annually automating data processing in its research using data preparation software from Datawatch Corporation (NASDAQ-CM: DWCH).
Binding Site supplies the world’s laboratories with clinical diagnostic tools to diagnose and monitor specific cancers and immune disorders. During production, it must constantly analyze the results of its scientific instruments while producing a meticulous audit trail of data to comply with FDA regulations.
The company used to have to re-key test results from print-outs generated by its scientific laboratory instruments into a spreadsheet, manually correcting and verifying each entry before the results could be officially vetted and archived. Since Binding Site runs approximately 155 experiments per day across 40 machines, data processing had become an enormous and costly time-sink.
“The process was laborious and cumbersome, requiring on average two man-hours per experiment, which is time that could be saved,” said Dr. Adeel Mushtaq, Head of Production Control at Binding Site.
When Binding Site recently modernized its business operations with a new ERP system, Ian Rocky the IT Manager saw an opportunity to apply Datawatch’s self-service data preparation technology to save time and meet requirements.
Datawatch pulls in data from a wide range of unstructured and multi-structured data formats like PDF, XML, HTML, text, spool and ASCII files that are typically too challenging to integrate into analytical applications. Binding Site uses Datawatch to automate the reading of PDF output files captured by the ERP system from the instrumentation, identifying fields and updating an Oracle database.
Long term, by eliminating manual data preparation processes, Binding Site will save greater than $600,000 annually by reducing labor time alone in addition to improving data workflow.
“And beyond the time and cost savings, Datawatch has accelerated our ability to gather data. Our business processes will be improved thanks to our ability to automate the capture of instrument data, speed the flow of business information, and meet quality & regulatory requirements much more easily,” Mushtaq added.
“Binding Site is the perfect example of how organizations can drive efficiencies, save money and improve regulatory compliance and auditing with automation. While other companies spend up to 80 percent of their analysts’ time on data preparation, typically with many errors, Binding Site is quickly transforming raw information into reliable, consistent data sets ready for data analysis and reporting,” said Dan Potter, chief marketing officer at Datawatch.
About Binding Site
Binding Site is committed to improving patient lives worldwide through education, collaboration and innovation. The company focuses on research, development, manufacture and distribution of innovative immunodiagnostic systems and assays for the global laboratory market. By utilizing its specialized expertise in antibody specificity technology, Binding Site has developed a broad menu of special protein assays, including the Freelite® test, the only FDA cleared and guideline-recommended serum free light chain assay on the market. Binding Site gives clinicians and laboratory staff the tools to significantly improve diagnosis and management of those patients with specific cancers and immune disorders.
About Datawatch Corporation
Datawatch Corporation (NASDAQ-CM: DWCH) enables ordinary users to deliver extraordinary results with all their data. Only Datawatch can unlock data from the widest variety of sources and prepare it for use with visualization tools or other business processes. When real-time visibility to rapidly changing data is critical, Datawatch enables you to visualize streaming data for the most demanding business environments such as capital markets. Organizations of every size worldwide use Datawatch products including 93 of the Fortune 100. Datawatch is headquartered in Bedford, Massachusetts with offices in New York, London, Frankfurt, Stockholm, Singapore, and Manila, and with partners and customers in more than 100 countries worldwide. See how Datawatch can help you by downloading a free version at datawatch.imarc.io.
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Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any such statements contained herein, including but not limited to those relating to product performance and viability, are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. The factors that could cause actual future results to differ materially from current expectations include the following: rapid technological change; Datawatch’s dependence on the introduction of new products and product enhancements and possible delays in those introductions; acceptance of new products by the market, competition in the software industry generally, and in the markets for next generation analytics in particular; and Datawatch’s dependence on its principal products, proprietary software technology and software licensed from third parties. Further information on factors that could cause actual results to differ from those anticipated is detailed in various publicly-available documents, which include, but are not limited to, filings made by Datawatch from time to time with the Securities and Exchange Commission, including but not limited to, those appearing in the Company’s Annual Report on Form 10-K for the year ended September 30, 2015. Any forward-looking statements should be considered in light of those factors.
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