Updated on

Data is becoming bigger in volumes, varied and more complex. Every company is facing this increasing issue on a daily basis. If a company does not transform itself to become data-driven, it can expect some serious repercussions in both local and global competition. Eunoia made it its mission to help companies monetise their data and can help any company analyse and visualise its data to make spot-on decisions for driving better business.

Although Eunoia’s establishment dates to 2017, our experience goes way beyond that. Our journey on the road of technological excellence started ten years ago with Malta-based tech firm PTL. However, when PTL was split into three separate companies in 2017, Eunoia was launched under the nurturing hands of Hili Ventures. Very recently, after our buyout, Eunoia today provides its services as an independent startup.

Eunoia’s team of young, enthusiastic and passionate masterminds help the company flourish. We firmly believe that due to our positive attitude and experience in the field, we can help any company in becoming a data-driven organisation. The name Eunoia — dating back to Ancient Greek and meaning “beautiful thinking” — has all the vowels in it, hence it stands for what we offer: a toolbox that comprises of all the business analytic solutions that a company would need.

READ  Banks need to buckle up to keep pace with fintech firms

Thanks to our partnership with Panorama Software — the inventor of the MDX technology — we can provide a one of a kind user experience to mining data and traversing datasets. Panorama with their latest verticals is considered a world leader in artificial intelligence (AI) and data analytics for telecommunications and media. This is accompanied by our partnership with Microsoft, which is a world leader in business intelligence (BI). Microsoft’s infrastructure, as well as cloud strategy, is a compass to the industry in general.

Stefan Farrugia, Founder and CEO of Eunoia.

“Eunoia offers business intelligence solutions helping companies structure, analyse, visualise and understand their data.”

Eunoia offers business intelligence solutions helping companies structure, analyse, visualise and understand their data. We can lift data from any data source, and with our model and platform, we can help, for example, distributors and retailers analyse day-to-day conversion rates and business performance key performance indicators (KPIs). Eunoia’s solutions can be integrated with any platform and its visualisation tool offers phenomenal insight into data, thanks to Panorama Necto which is now completely overhauled to be more portable across platforms.

Our biggest asset is the ability of our engineers to make sense of any data structure, no matter how challenging it is. Our approach is encompassing, and we see data as a means to the objective. We design business models and then fit, clean and transform data to enable high-value insights and drill-downs, exposing challenges and opportunities. Thanks to the integration of our platform, sectoral analysis can be carried out any time. The software is very intuitive and take-up is very fast, after a short training, users start visualising their trends. We help people understand data in order for them to make the right decisions.

READ  LeoVegas sees further expansion, vows commitment to new Spanish market

Another important product of ours is called CFOUR, which is a financial consolidation tool. The name comes from the four stages as collating, compiling, calibrating and consolidating data.

The software is able to take data from different sources — such as Excel or enterprise resource planning (ERP). The subsidiary accounts are collected to produce management accounts. Once intercompany reconciliation happens, the subsidiary accounts are consolidated into the holding company, leading to the production of consolidated statements.

Currently, Eunoia is developing a version of CFOUR in the cloud as a Software as a Service, which would enable a wider and more global reach of this niche product. We are on target to release by the end of the year.

The year 2018 was our consolidation period. In 2019, we started off with an azure-first approach and we will continue evangelising the benefits of the infrastructure. Being Microsoft gold partners in data and analytics, this is a major project as far as big data platforms are concerned. We are going to be certified by the end of this year on Azure Databricks which will certify our knowledge in the area.

READ  GO Business caters for all your corporate communication needs

Our small but tight-knit and diverse team works hard every day in order to deliver the best results. Nevertheless, we are always on the lookout for talent to expand our teams especially with juniors who are hungry to grow and develop and let us help them reach their full potential. As part of our corporate social responsibility (CSR), we believe we provide student internships to highfliers. The objective is to provide an on the job experience without hindering their study schedules, thereby giving full flexibility on time.

Eunoia has been instrumental in delivering high-value business intelligence solutions in Malta. It is a unique focus on the island and sees most of our customers engaging in transformations and growth paths. We believe that BI is one of the tools for such growth and we continue supporting our customers through their journeys.

The present article has been written by Stefan Farrugia Founder and CEO of Eunoia.

- Advertisement -
Previous articleAvenue 77 business centre opens after €30m investment
Next articleMalta-Japan Parl’t Friendship Group talks need for double taxation treaty
Stefan Farrugia is the Founder and CEO of Eunoia, which is focussed on data and analytics solutions and continues its journey building CFOUR the inbred management accounts and financial consolidation solution. Mr Farrugia considers himself an innovator with a deep understanding of the tech industry. He has championed business intelligence services to customers. He is recognized for his approach of using innovation on top of existing technologies to simplify and reach client objectives effectively and efficiently. Throughout his 20-year career Mr Farrugia has built a reputation within a number of business markets mainly in government, agriculture, statistics, financial and banks, wholesale and retail and education. He has also conceptualised, pioneered and took to market a number of business intelligence-based software products targeted towards different verticals. In 2017 he founded Eunoia of which he is now CEO. Eunoia is focused on data and analytics solutions and continues its journey building CFOUR the inbred management accounts and financial consolidation solution.