LinkedIn
2nd May 2019

Master your Business Intelligence system & erase IT debt to shape the future

Our software openAudit is a solution for managing decision-making data flows, in order to massively simplify systems and tackle the most stringent regulatory texts e.g. BCBS239 or GDPR.

About Ellipsys

We are a young start-up from Luxembourg, founded by Samuel Morin four years ago. We are a team of seven people, and have previously been supported by the Luxembourg government through the Lux’Innovation programme. We are also a member of the ABBL FinTech Cluster. 

Our customers include some of the largest Luxembourg banks, as well as a few non-banking institutions.

We are just beginning to expand internationally. Some of our customers are among ohters, the EIB, Unibail-Rodamco and Cora.

We are also practically the only one in Europe!

We work in the field of metadata management, which deals with the structure of data—in other words, the frameworks that contain data. We are the only publisher in the country that offers software solutions to manage metadata.

Why?

Information systems are almost always old, complex, and jumbled together when it comes to decision-making data. They cost big money for companies and don’t bring the expected guarantees in terms of data quality.

Indeed, the number of users and publishers, along with the variety of information to be archived, have caused data volumes to skyrocket. There are two possible options. One would be to regain control of these systems by simplifying them with IT personnel. This option is slow, expensive and inefficient, and not very rewarding for the personnel involved. Another option would be to automate a large part of the process. That’s our approach.

How does your product stand out?

We automate the analysis of business intelligence systems, producing information for all decision-makers in a company.

 

Using the information we collect, we build certain solutions:

  • End-to-end data tracking (=data lineage)
  • Identifying everything that’s holding the system back (i.e. obsolete or broken features) and developing tools to remove them

The three main use cases

Improving the compliance
Improving the compliance
Improving the compliance of decision-making data by perfectly and continually managing how they are constructed, from their point of origin to their publication. This process allows companies to have confidence in their strategic data and to take the best possible approach toward GDPR and Basel III (BCBS239).
Reducing costs
Reducing costs
Reducing business intelligence costs (licensing, maintenance) by massively optimising systems.
Enabling migration
Enabling migration
Enabling migration toward the cloud, or toward big data architectures for decision-making systems, by automating certain processes while minimising cost and effort.

The role of nyuko

We first met with nyuko at our office in Luxembourg. Nyuko helped us create our pitch deck, which laid out our value proposition. Partially thanks to them, we were able to complete our first round of fundraising in a very short span of time. With Nyuko’s support, we were able to join a business mentoring programme. Our regular discussions with our mentor have helped clarify a whole host of questions related to business development.

Nyuko has signed a partnership with Spuerkeess, in order to foster entrepreneurial spirit and strengthening the bank's position with company founders from the start of their businesses. More info in our article: https://www.spuerkeess.lu/en/blog/experts-corner/nyuko-fostering-entrepreneurial-spirit/. 

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