Business Value
A COMPLETE REPORTING SOLUTION THAT IS COST-EFFECTIVE

The txstream product is a complete reporting solution that is cost-effective, easy to use and implement, and allows for full compliance across all current and future SARS requirements (scalable) eliminating the need for additional resources and cost from a client perspective. Companies don’t need a team of in-house developers to support the solution as the Synthesis’ team consists of dedicated individuals keeping abreast with any changes that SARS releases.
Synthesis Software Technologies in its endeavour to streamline the internal process for financial institutions have developed a product suite for SARS namely txstream, which allows for the extraction of data (from source), validation of data quality, and packaging into the correct format of SARS formatted flat files. In addition the txstream suite provides a set of reports giving insight into data quality (which can drive clean-up processes) as well as the data that is submitted to SARS. The txstream suite consists of the following modules that can either be purchased individually (add on components) or collectively (as a package).
The solution supports the following submission types
The Benefits
A COMPLETE REPORTING SOLUTION THAT IS COST-EFFECTIVE
ELIMINATES FINANCIAL PENALTIES AND REPUTATIONAL RISK
REMOVES THE BURDEN OF FORMULATING YOUR OWN REPORTING TO SARS
FULL AUTOMATION
ASSURANCE AND COMPLIANCE
INSTANT SARS KNOWLEDGE
CONTINUOUS DATA VALIDATION AND INSIGHT INTO YOUR DATA QUALITY
SIMPLICITY
Product Features
A COMPLETE REPORTING SOLUTION THAT IS COST EFFECTIVE
Tech Features
FAST
Our experience in building high performance validation and rule engines means that we can process workloads in hours that would otherwise have taken days.
INTEROPERABLE
- The server application is implemented in Java, which means that it is convenient to deploy on Windows, Linux, Macintosh or cloud environments.
- The front end is built in HTML 5 and is supported by all the leading modern browsers. Interacting with the system can be done in the most appropriate way for the context. The UI is responsive to mobile form factors.
- Our light-weight data flow layer means that we can integrate the solution with various sources of data. Common sources of data are SQL, CSV and Excel.
SCALABLE
- Our solution is designed to work on the most modest of hardware for small data sets and scale up linearly for big data sets.
- Our specification encoding engine means that we can scale easily to deal with the vast number of specification types released by SARS and all the versions that exist for each specification. The same system supports multiple SARS specifications, each at different versions, comfortably in one instance.
CLOUD BASED
- For clients that do not have local infrastructure or in cases where volumes of data are so low that setting up local infrastructure doesn’t make sense, we offer cloud hosted solutions.
- You would interact with the system by uploading the data for the submission via the website (direct integration scenarios are also possible) and the system would validate and produce the output file on the cloud.
HIGH PERFORMANCE ENGINES
- We leverage the best technologies to squeeze out maximum performance from the available hardware in a manner that is fit-for-purpose in the regulatory reporting environment.
- Certain sections of the system leverage industry-standard technologies because they are proven, optimised and dependable.
- Other sections of the system are custom built to meet the specific requirements of the regulatory compliance and reporting environment. This means that we can really maximise the benefit of the technology in a way that makes sense in the context.
- We prefer this approach over an expensive solution using generalised components that introduce overheads for features that are not relevant in this context.
EXTENSIBLE
- The specification encoding engine allows client-specific modifications to be made to the SARS specifications without requiring a change being made to the software system. This means that we can extract maximum benefit from client data without long and complicated software modifications.
- The integration layer contains many generic data manipulation components that can be configured to achieve complex data integration and manipulation (ETL) requirements.
- The data flow layer is easily extensible with components where you can add in custom code and scripts without needing to recompile the system. If a custom task type is required in the data flow layer, it can easily be developed using our API and added onto the system. We never need to see the source code for that task.
STANDARD CONNECTORS
- Our system can integrate with SQL, CSV and Excel out the box. This makes data integration easy. The last mile of integration (ETL) can be done within the data flow system, meaning that the source systems do not need to be modified.
- If we come across common data integration requirements across clients, we can easily add support in future for other standard data formats / systems.
- Our user management and security integrates with Active Directory so it makes management of users and permissions easy.
BIG DATA
- Our system can comfortably support data sets in excess of 5 Million account holders. This might translate into roughly 15 Million records of data. We have pushed it in production beyond this.
- The system behaves linearly as the volume of data scales. This means that the performance rate at 10 000 Account Holders is the same as at 1 Million Account Holders. The same solution will be able to meet the demands of your growing customer base.
Frequently Asked Questions
Can I only purchase one module of the txstream solution?
If I already have purchased a module can I add on another reporting type?
We already have an internally developed solution for SARS reporting. Why should we use txstream?
What are the different deployment options?
1) Cloud based – this is typically used by smaller institutions where infrastructure is a concern.
2) Onsite – This is typically used by larger institutions, and/or where infrastructure is not a concern.
How many users are licensed to make use of the solution?
How many days do you require to implement the solution?
I have no FATCA reportable clients, but I do have a GIN number. Do I still need to report?
Some reporting types only need to be submitted once every few months. Should we switch off the software?
Is there a limit on the amount of records?
How will you integrate into our systems?
1) Tight – with tight integration, we would meet with a business analyst to understand the data and how it is housed. We would then either develop or re-use tools that allows us access to the data directly (i.e. specific API’s, SQL, etc.).
2) Loose – with loose integration, clients prefer to keep control over their source data and only expose us to the data required for submissions. I.e. a csv report or sql view can be developed by the client which we can then make use of the source required data. We can provide some sample formats, or alternatively the client can make use of a format that they have readily available.
Let’s Get in Touch
PLEASE CONTACT US IN ONE OF THE FOLLOWING WAYS.
txstream is a licensed product of Synthesis Software Technologies
Synthesis Software Technologies, founded in 1997, offers specialised software development, consulting and integration services and technology-based product solutions to banking and financial institutions in South Africa and other emerging markets.
Synthesis Software Technologies (Pty) Ltd
Melrose Arch, No 3 Melrose Boulevard, 4th Floor, Unit 59a
Tel: 087-654-3300
