SACRRA has developed tools which support our Members, enhance our services, and prove cost-effective by containing costs overall and ensuring less expensive and/or intensive operations.
The DMA empowers SACRRA Members to understand the quality of their data ahead of the submission of these to the credit bureaus in the required SACRRA format. This application also assists Members to be compliant with the requirements of the NCA and National Credit Amendment Act (NCAA) in terms of reporting good quality data that is, up-to-date, relevant, and complete.
This software application is hosted on-site at Members’ premises and validates the providers’ data against the SACRRA data specification with provides insight to the shortcomings of the data file through the provision of reports and does not alter the data. These reports, for example, include rejections, warnings, and quality exceptions which enable the member to take the appropriate corrective measures to rectify the extracts before submitting the files. In this way Members enjoy protection of their reputation and are less likely to be found lacking in legal compliance, overall reducing their business risks through this ability and to enable them to manage their data in their own environments.
The tool is easy to install and use as well as reduces the data providing Member’s implementation time and development costs including the data hosts’ time to process test files. This tool is in use by 80% of SACRRA’s data providing Members currently and resulted in a considerable saving in SACRRA’s resource times to process and consolidate test files, due to the reduction in the number of test iterations."The secret of success is to do the common things uncommonly well.”
~ John D. Rockefeller
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