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Ramco Banking Analytics Launches Automatic Submission of Returns for Regulatory Reporting


August 17, 2011 - Chennai, Tamil Nadu, India

Ramco Systems (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); a leading software company focused on consulting, products and managed services, has announced that its Banking Analytics product enables banks to automatically adhere to the RBI guideline for submission of returns without any manual Intervention.

Reserve Bank of India had recently released an approach paper on Automated Data Flow from various transactional systems of the banks to RBI. By adopting an automated process for submission of returns, the banks would be able to submit accurate and timely data without any manual intervention. This process would also enable the banks to improve upon their MIS and Decision Support Systems (DSS), etc. From the RBI standpoint, this will ensure uniformity in returns submission.

Speaking on this, Mr. Kamesh Ramamoorthy, Chief Operating Officer, Ramco Systems says, “The recent announcement from RBI on Automated Dataflow has triggered the need among banks for a solution that will quickly help them to adhere to the RBI guideline. With the launch of Ramco Banking Analytics’ ADF solution, banks will be able to generate all reports as per RBI guidelines automatically. Our ADF solution can be deployed on any database management system and can go live within weeks.”

ADF will benefit the banks in terms of:

-- Readily deployable CDR to automate reports
-- Quick timelines
-- Enhanced Data Quality
-- No manual intervention
-- Improved Efficiency of Processes
-- Reduced Costs
-- Supports banks own MIS requirements

Ramco Banking Analytics is a plug-and-play Bank Performance Management solution which helps banks to monitor their performance at various levels in the hierarchy under various Central Bank as well as Banks own internal performance parameters on near real time basis. It provides for paperless review system any time, from anywhere. It facilitates collaborative decision making and is powered by a comprehensive BI Platform – Ramco DecisionWorks, which offers a robust infrastructure that can address large scale Enterprise Data Warehouse requirements.

About Ramco Systems:

Ramco Systems, a part of the USD 875 million Ramco Group, is a leading software company focused on consulting, product and managed services business. Headquartered in Chennai, Ramco Systems was started as an R&D division of Ramco Industries Limited in 1992, and later established as an independent company in 1999. The company focuses on providing innovative business solutions that can be delivered quickly and cost-effectively in complex environments. Globally, Ramco has over 125,000 users from 800+ customer organizations since inception. The company currently has offices spread across India, USA, Canada, Europe, Middle East, South Africa and APAC and employs over 1,500 employees.

Ramco’s key differentiator is its innovative approach to develop products through its revolutionary enterprise application assembly and delivery platform - Ramco VirtualWorks™. Ramco Systems has seven major product suites – Ramco Enterprise Suite, Ramco Enterprise Asset Management Suite, Ramco Aviation, Ramco OnDemand ERP (ERP on Cloud), Ramco Enterprise Information Management Suite, Ramco Advanced Process Control, and Ramco Mine Management. Strong domain knowledge coupled with proven implementation expertise enables Ramco to provide specialized solutions in verticals such as Manufacturing, Real Estate & Construction, Energy & Utilities, Logistics, Service, BFSI, Aviation, Government and Defense.

Ramco Systems has been assessed for ISO 9001:2008 and ISO 27001:2005 information security standards. Ramco’s BPO unit is SAS 70 Type II certified.

“Ramco Systems Limited (“the Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a rights issue of its equity shares and has filed a draft letter of offer (“DLOF”) with the Securities and Exchange Board of India (“SEBI”). The DLOF is available on the website of SEBI at www.sebi.gov.in, on the website of the lead manager at www.centrum.co.in and of the Company at www.ramco.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled “Risk Factors” of the aforementioned DLOF. The distribution of the DLOF to persons in certain jurisdictions outside India may be restricted by legal requirements prevailing in those jurisdictions. Persons into whose possession the DLOF may come will require them to inform themselves about and observe such restrictions. The equity shares proposed to be issued have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India (including but not limited to any securities laws in the United States) and may not be offered or sold, and persons in any such jurisdiction shall not participate in the proposed issue except in compliance with the applicable laws of such jurisdiction”.

For more information, please visit www.ramco.com

Follow Ramco on Twitter @ramcosystems/read latest news & updates on http://www.ramcoblog.com/

Source: Business Wire India

BusinessWireIndia

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