Precisely, New Name for Syncsort

Brand name Precisely is unveiled as the result of Syncsort’s acquisition of the Pitney Bowes software and data business in December.

The new brand underpins a business with software and data enrichment products, annual revenue in excess of $600 million, 2,000 employees, and 12,000 customers in more than 100 countries, including 90 of the Fortune 100.

Making data-driven decisions has become increasingly complex for even the largest enterprises. Despite the proliferation of cloud-based analytics tools, a recent study of CEOs found that 84% do not trust the data they are basing decisions on (1), and with good reason, as another study found almost half (47%) of newly created data records have at least one critical error (2). The cost of noncompliance with new governmental regulations, including GDPR and CCPA, has created a greater urgency for trusted data.

“Advancements in storage, compute, analytics, and ML have opened up a world of possibilities for enhanced decision-making, but inaccuracies and inconsistencies in data have held back innovation and stifled value creation. Achieving data integrity is the next business imperative,” said Josh Rogers, CEO. “Put simply, better data means better decisions, and Precisely offers the industry’s most complete portfolio of data integrity products, providing the trusted link between data sources and analytics that helps companies realize the value of their data and investments.”

Precisely delivers accuracy and consistency in data by spanning the breadth of the data integrity spectrum, with data integration, data quality, location intelligence, and data enrichment products.

Its product portfolio enables customers to:

• Integrate – connect today’s infrastructure with tomorrow’s technology to unlock all an enterprise’s data;
• Verify – help ensure data is accurate, consistent, and complete for confident business decisions;
• Locate – analyze location data for enhanced, actionable business insights that drive superior outcomes;
• Enrich – power enhanced decision-making with expertly curated, up-to-date business, location, and consumer data; and
• Engage – create seamless, meaningful, omni-channel customer experiences using personalized video, chatbot, digital, mobile, and self-service capabilities.

“BC challenges, like the historic situation with Covid-19, inspire organizations to digitally innovate and transform using insights derived from data that provide visibility into operations and performance,” said Mark Smith, CEO and chief research officer, Ventana Research. “To reach their potential, organizations must have confidence and trust in the integrity of the data used to take actions and make decisions, and Precisely is emerging at the right time, with an intelligent approach to enable those competencies across the enterprise.”

(1) Forbes, Poor-Quality Data Imposes Costs and Risks on Businesses, Says New Forbes Insights Report
(2) Harvard Business Review, Only 3% of Companies’ Data Meets Basic Quality Standards

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