IT consultancy firm, Golden Mean, has struck a range of new distribution deals in an effort to strengthen its position in the data management market.
The deals with NetMap, DataScout and Contivo were for a mix of US and Australian products and enable large enterprises to identify and resolve data problems, its managing director, Greg Stevens, said.
Australian-based NetMap creates intelligence software used by insurance and intelligence agencies in the US to find anomalies in data, he said. "We will use it to tackle insurance and retail fraud in Australia," Stevens said.
Insurance fraud represented $1 to $2 billion a year in lost revenue in Australia, he said. The NetMap product provided the industry with a tool to identify fraud so they can prosecute it.
The second distribution deal will see Golden Mean bring DataScout Compliance and Homeland Security software and the WorldCompliance due diligence database to the Australian market.
The products gave the company the ability to crosscheck customer databases to minimise a client's association with organisations associated with money launderers or terrorists, Stevens said.
"There has been some legislation that looks like it might go through parliament which will make financial institutions, as well as other types of businesses, responsible for reporting who they do business with," he said. "Australia is following the US and its Patriot Act to an extent, as it's a big concern for government. They want companies to help them police this area."
The third deal will allow the company to add Contivo's semantics-driven data integration solution to its portfolio.
"Contivo was used worldwide by people like HP when they merged with Compaq," he said. "We are looking at opportunities here where there are mergers, acquisitions or businesses are integrating a CRM solution to a back-up system."
Over the coming year Golden Mean would continue to look for additions to its data management capabilities to help it focus on key verticals, Stevens said.