In focus: Prescience UAE
How a young IT solutions provider in Dubai is creating a culture of innovation among the region’s financial industry organisations.
Prescience is a young information technology solutions company based in Dubai, with a vision to become a global player with focus on business sensible solutions. With the objective to empower its clients to exceed their customers’ expectations, it guides them to structured digitisation for process optimisation and business excellence by offering professional consultancy as well as the latest technology.
Prescience was conceived by U.V.K. Kumar, the founder director, who, after serving for over two decades in IT environments at various organisations, felt an inclination to move to an open platform where he could share his skills and expertise with the wider world. Prescience was founded to fill the gap in availability of consulting partners and solution providers who could help companies who wished to leverage latest technologies but did not have the technical skills to make the right choices.
Mr. Kumar was the CIO and Head of the Information Technology division of Doha Bank for over 11 years and was selected by Arabian Computer News as one of the Top 10 IT managers of the year for 2003 and again for 2008.
With P.B. Sreekumar coming on board to drive the Sales and Marketing with his vast experience with multiple global organisations providing solutions for the finance industry, Prescience started to spread its wings more in the Middle East and Africa.
Backed by high-level technical skills and supported by business-focused domain expertise, Prescience aims to exploit the benefits of digitisation using the latest technology to introduce niche solutions, especially for the financial industry, including banking and insurance, to help business units differentiate from their competition with more focus on customer touch points. The solutions provided by Prescience have the potential to revolutionise the financial industry in the area of process optimisation, compliance assurance and knowledge excellence.
Another area that Prescience is focusing on is arriving at sensible solutions that would help in optimising costs and enhancing revenues with the help of a customer-focused marketing approach using scientific methodologies for analysing data. This reflects the company’s approach to big data analytics in a more sensible way.
With quality and reliability as its motto, and technology as its strength, Prescience also boasts of its valuable partners having highly experienced domain experts who are able to understand and analyse the business needs of their customers and then provide specific solutions that exactly meet their requirements.
GIEOM, one of Prescience’s partners, has its products in the list of the top six banking technology innovations as identified by SWIFT at the SIBOS conference in September 2013. Its flagship products, Digital Blueprint and Policy Builder, offer digitisation of standard operating procedures and regulatory and policy documents to provide information at the right time to the right people to facilitate “business excellence and compliance assurance” in a bank. Involving employees in improvement and innovation is critical to a bank’s competitive advantage, and GIEOM aims to help banks overcome this challenge. Having already rolled out its products for 10 banks involving around 35,000 employees in 35 countries, the company is now aiming to mark its presence in the Middle East in partnership with Prescience.
Besides banking, insurance and finance, Prescience also offers solutions for business in the retail, manufacturing, healthcare, utilities, oil & gas and government services domains.
The combination of technology and domain expertise of Mr. Kumar and sales and marketing skills of Mr. Sreekumar has the right potential to enable the company to achieve its ultimate goal of becoming a global player as a preferred business solutions provider.
Prescience aims to become a leading business solutions provider in the Middle East and Africa, providing sensible business solutions using current technologies in digitisation, process excellence and analytics.