BI for BFSI, Saksoft's Veri-sens

CHENNAI, INDIA: Saksoft, a software services company focusing on the BFSI segment, has announced the launch of Veri-sens, a Ready-to-use, end-to-end Business Intelligence solution designed exclusively for the Banking and Financial Services Industry.

A press note tells that the product is packaged into three modules providing ready to go portfolio performance reports and dashboards for Credit Cards, Retail Assets like personal loans, auto loans and mortgages and Retail Liabilities, and also the High Net worth Individual (HNWI) segment. The company plans to expand its service offerings into the Business Intelligence space through similar specialised products and solutions for Mutual Funds, Small and Medium Enterprises and Insurance sector. 

Saksoft’s Veri-sens framework is technology independent and can significantly reduce IT cost by leveraging upon existing infrastructure, proprietary tools, open source tools and the power of cloud computing. Veri-sens offers pre-built data models, industry standard computational engines and more than 150 pre-built reports and dashboards which help businesses identify, manage and overcome key strategic challenges across multiple functional areas, the company says. 

Aditya Krishna, Founder & Managing Director, Saksoft Group added “Our future product roadmap for Veri-sens is to look at technology advancements and addition of new products and business areas to the Veri-sens product family.”

According to Gartner, by 2012 organisations will allocate at least 40 per cent of the total IT budgets for business intelligence. Business intelligence has become one of the top most technology priorities. IDC predicts that by 2013, companies will increase their spending at the rate of almost 10 per cent in this sector. Investments are likely to expand in the areas of production reporting, spreadsheets and ad hoc queries, in the range of about 45 to 50 per cent as compared to the last fiscal.   

“We wanted to extend our core service offerings to customers in India. High costs, high complexity and long gestation period are some of the concerns in the industry, while deploying a new Datawarehouse and Business Intelligence solution. With Veri-sens, we have shrunk the deployment time by at least 50 per cent. In fact Veri-sens can be useful to audit an existing data warehouse or build a warehouse from scratch with a very powerful ETL logic. Veri-sens has an established data model and Key Performance Indicators built by domain experts that can be readily used by the business users”, said N K Subramaniyam, Executive Director, Operations and Technology, Saksoft Ltd.