Ness Technologies Selected by Raiffeisenbank in the Czech Republic to Implement Multi-million Dollar System for Efficient Client Document Management The System Will Process Two Million Documents Annually, Significantly Reducing the Need for Human Intervention
PRAGUE, September 6, 2011 /PRNewswire/ --
Ness Technologies, Inc. (NASDAQ: NSTC, TASE: NSTC), a global provider of information technology solutions and services, announced today that it has signed a multi-million dollar contract with Raiffeisenbank in the Czech Republic for the delivery and implementation of an electronic document management system, based on EMC Documentum, which will be integrated in the bank's new information system. The project, which will take several months, will be implemented on the platform of several of the bank's EMC² services.
"When finished, the system will be used routinely by more than 2,000 of our employees, including those who serve clients in our branches," said Jirí Švarc, Document Management System (DMS) Project Manager, Raiffeisenbank. "The new system will store client documents in digital form at a secure central depository. We will use it to process approximately 2 million new documents every year. The project is valued at several tens of millions of Czech crowns. An application for automatic document generation based on EMC² xPression technology will be the first to be implemented within this system."
Among the project's main benefits is an automatic document generation system, using set parameters. It will generate a document, for example a contract, with clauses that exactly reflect the terms and conditions agreed between the client and the bank. This will significantly reduce the manual work involved in document preparation, leading to faster service for clients and standardized communication with clients.
"The implementation team will comprise more than twenty of our top consultants specializing in DMS, with in-depth knowledge of EMC² products," said Mirko Kalous, Managing Director of Ness Czech. "The project implementation will use a wide range of EMC² products, starting from smart storage of encrypted digital documents and access management, through content generation systems, to solutions for viewing client documentation differentiated by which job the bank's employee is assigned to."
When the project is completed, the system will store also details of the physical location of archived hard-copy documents, in addition to having a central content depository. The project's long-term goal is to encompass all document management functionality, including that currently provided by other applications.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC and TASE: NSTC) is a global provider of IT and business services and solutions with specialized expertise in software product engineering; and system integration, application development, consulting and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 7,000 employees, Ness has operations in North America, Europe, Israel and India, has customers in over 20 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness, visit http://www.ness.com.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements are included under the heading "Risk Factors" in Ness' filings with the Securities and Exchange Commission. Ness is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
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SOURCE Ness Technologies Inc