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2015-09-16

Datawatch Corporation: Self-Service Data Preparation Saves Marbridge Thousands of Man-Hours, Dollars Meeting Affordable Care Act Reporting Requirements With Da

CHELMSFORD, Mass., Sept. 16, 2015 (GLOBE NEWSWIRE) -- Many employers are
struggling to meet new IRS reporting requirements mandated by the Affordable
Care Act (ACA). A recent survey of 480 U.S. employers by global accounting
firm PwC found that only 10 percent said they have a solution in place to
compile the necessary data and file the required forms with the IRS early
next year.

The Marbridge Foundation, an Austin, Texas-based non-profit residential
community for adults with a wide range of cognitive challenges, is one
organization bucking the trend (learn more about Marbridge at
www.marbridge.org) by utilizing self-service data preparation fromDatawatch
Corporation (NASDAQ:DWCH). As a result, Marbridge is saving many thousands of
dollars and man-hours in manual data entry costs while greatly reducing its
risk exposure to government penalties.

New ACA rules mandate that employers like Marbridge with 50 or more full-time
employees must report whether they offered "minimum essential coverage" to
their full-time employees and dependents. And if coverage was offered, what
the employee's share of the lowest cost monthly premium for self-only
coverage was. Marbridge's challenge stemmed from its payroll system, which
wasn't equipped to meet these requirements without an expensive upgrade, nor
support its need to report on historical payroll information from 2013, 2014
and 2015. In addition, Marbridge is currently in the process of converting
to a new HR/payroll service provider that also required some of this data,
without which, Marbridge would have to maintain the legacy system for
research and reporting.

"To ensure compliance, we needed to be able to analyze the number of hours
each of our 300+ employees worked to determine if they met the 30-hour
eligibility requirement for full-time status, and we had to meet a look-back
provision for which we needed to report on years 2014-2015 as well. That
meant we needed to look at historical as well as current payroll data - but
our payroll system only allowed us to access that payroll information in PDF
format," said David Erps, Marbridge's vice president of finance.

As a non-profit community adhering to smart and efficient stewardship of its
dollars, Marbridge knew hiring a temp agency to manually key in all the
payroll data was not ideal. But that option was rife with complications,
costs and risk due to inevitable human errors. Each employee report filed
late or containing errors was subject to a penalty ranging from $100 - $250.
"I'm estimating our exposure at up to $40,000 in penalties," Erps said.

Using Datawatch with a customized template to extract the necessary
IRS-required information, Erps' team was able to extract and clean both
current and historical payroll information locked in the PDF files quickly
and automatically. "Datawatch has been incredibly successful for us. I
conservatively estimate that we have saved 2,000 to 3,500 man-hours so far.
And we saved additional money by not having to upgrade our software and hire
extra temporary staff," Erps said.

Datawatch is unique in its ability to automatically extract and prepare data
locked in a wide range of report formats including PDF, XML, HTML, text,
spool and ASCII files, enabling organizations like Marbridge to pull in
virtually any kind of structured and unstructured data from things like
payroll records, invoices, sales reports, balance sheets and customer lists
with speed, efficiency and accuracy.

Because virtually any data set will contain some errors, confidence in the
resulting data was also critical to Erps. As a former accountant, he's
inherently risk averse to government audits. The automated data preparation
capabilities of Datawatch include more than 80 pre-built functions designed
specifically to clean and transform incomplete, inaccurate data into an
accurate, analysis-ready form with a few clicks.

With the ACA reporting requirements now under control, Erps sees new
opportunities for incorporating Datawatch across multiple data preparation
needs within his organization's HR and financial processes. He plans to use
Datawatch to scan in all employees' historical W2 forms and link it to their
HR files so that they can have one central repository for all payroll
information. With the organization adopting a new 401K program, he also sees
Datawatch aiding that transition as well.

"Datawatch has saved us so much time and money it's hard to even quantify. And
besides all the monetary savings, it has given us the ability to create one
place to go for all the answers. So the next time someone in the
organizations asks for all the payroll information for the past 2 years, we
can instantly give them what they need," he said.

About Datawatch Corporation

Datawatch Corporation (NASDAQ:DWCH) provides the only Managed Analytics
Platform that brings together self-service data preparation with visual data
discovery. Its software bridges the gap between the ease that business
user's demand and the automation and governance needed by IT. Users can
quickly discover key factors that improve their business by transforming data
from multi-structured sources, as well as real-time streaming data, into
visually rich analytic applications. Organizations of every size, worldwide
use Datawatch products, including 93 of the Fortune 100. Datawatch is
headquartered in Chelmsford, Massachusetts with offices in New York, London,
Frankfurt, Stockholm, Singapore, Melbourne and Manila, and with partners and
customers in more than 100 countries worldwide. Learn more at
www.datawatch.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995

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, 2014 and Forms 10-Q for the quarters ending
December 31, 2014, March 31, 2015 and June 30, 2015. Any forward-looking
statements should be considered in light of those factors.

© 2015 Datawatch Corporation. Datawatch and the Datawatch logo are trademarks
or registered trademarks of Datawatch Corporation in the United States and/or
other countries. All other names are trademarks or registered trademarks of
their respective companies.
Investor Contact:

Datawatch Investor Relations
investor@datawatch.com
Phone: (978) 441-2200 ext. 8323

Media Contact:
Sarah Bernardi
Datawatch Corporation
Sarah_Bernardi@datawatch.com
Phone: (978) 441-2200 ext. 8387
Twitter: @datawatch

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Datawatch Corporation via Globenewswire

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