WEP Solutions Ltd Stock Analysis

Datanet Systems incepted in 1995 has committed itself to product innovation right from its inception. In fact R&D based state of art product design & development has been an uncompromising passion for Datanet. Datanet specialises in the design and development of Workflow/BPM Software, Multi-application Smart Cards, Smart Card based ATMs and Banking Application. Datanet has been doing intensive & continuing R&D in core areas of

• Workflow automation platform for complex business processes and
• Multi application smart card solutions with special focus on financial applications.

As a result, Datanet has developed & deployed a wide range of solutions, particularly in the banking sector. Datanet products are installed in about 8000 sites distributed across the length & breadth of India.

In developing these complete solutions, Datanet has also acquired expertise in the design, deployment & usage of many related platforms & technologies such as Microsoft platforms, banking business processes, WANs, Smart card terminals, Internet based applications, PKI security, Web Services, automated teller machines, ASP model managed services, turn-key project handling, etc.

Products and services offered by the company:

Product:

• WorkFlow Based
• Cash Management System
• Electronic Funds Transfer
• Any Branch Banking
• Telebanking
• BankFlow
• Sanchaya

Smart card Based

• e-Smart Card
• e-Smart Combo

Services

• Internet & Mobile Banking
• Strong Web Authentication
• e-Cash Download & Settlement

Milestone

• 1995:  Company started
• 1996  Signed up with M/s Federal Bank for joint development of TBA software using BPRO.
• 1997:  Obtained first order from Department of Posts for supply of software for banking transactions; Order from NIC for wireless MAN;
• 1998:  Order from M/s Vysya Bank for development of a customized ABB system
• 1999:  Order from Bank Of Baroda for CMS system and ABB, Telebanking and PC Banking; Telebanker for Syndicate bank; Repeat order from DOP; Order from Sir. M. Visvesvaraya Co-op bank for computersing all branches with TBA.
• 2000:  Datanet becomes a listed company; Repeat order from DOP; Repeat order from BOB for expansion of CMS and ABB, Telebanking & PC Banking.
• 2001:  DeSL, a subsidiary of Datanet is started; Repeat order from DOP; Repeat order from BOB for expansion of CMS and ABB, Tele & PC Banking; Order for development of EFT software; Order for enhancing the BOB network with VSAT connection; Order from Dhanalakshmi Bank for supply of CMS, ABB, Tele & Internet banking software; Order from BASIX for development of smart card & workflow based micro-finance transactions system.
• 2002:  Repeat order from DOP;
• 2003:  Order for ASP model Internet & mobile banking from BOB; Installation & commissioning of EFT for BOB; Installation & commissioning of CashierAssist, a version of e-ATM at Karad Urban Co-op Bank; Order for 'Know Your PAN' service over Telephone or Internet from Income Tax department, Bangalore.
• 2004:  Installation & commissioning of smart card & Windows PC based e-ATM at Sir M. Visvesvaraya Co-op Bank, Bangalore; Repeat order from BOB for expansion of Internet & mobile banking; Continuation Order from Dhanalakshmi Bank for expansion of CMS;
• 2003-05:  Re-engineering the company towards building globally applicable core technology products.
• 2005:  Pilot project from Sanghamithra, for developing a smart card & Simputer based solution for microfinance. Pilot project for building a secure & instant immigrants' money transfer system for export using Smart Card & Simputer. Enhancement of Bank Of Baroda's CMS & EFT software.
• 2006:  Development of a Simputer & smart card solution for handling auctions at APMC yards.
• 2007:  Repeat orders from DOP;
• 2008:  (i) Repeat orders from DOP             (ii) Pilot Order for Customised iRemitHome from TCC, Ghana.