Datawatch invests in the Middle East
Data search and retrieval vendor Datawatch has announced it will establish an office and has appointed its first distributor in the Middle East
Data search and retrieval vendor Datawatch has announced it will establish an office and has appointed its first distributor in the Middle East. eDocuman, a provider of data and image management solutions, will be the first distributor for the region and will carry Datawatch’s Monarch and Monarch Data Pump software for data conversion and data search and analysis.
“It took me six months to find the right distributor,” said Robert Graham, product manager for Europe, the Middle East and Africa at Datawatch. “People in this region like to deal locally, so having a local partner gives us wider scope. A lot of companies wanted to work with us, but eDocuman were asking me the right questions, this has been a decision that I have not made lightly. ”
eDoucman will sell Datawatch products through its sub-distributors in Oman, Qatar, Lebanon and the UAE as well as handling larger accounts itself.
“The Monarch products are a valuable addition to our portfolio. eDocuman shares a lot of the same vertical markets as Datawatch. We will be embarking on a large drive with Datawatch to raise awareness across the industry of compliance issues,” said Mridul Ganguly, business consultant at eDocuman.
Datawatch has a firm enterprise focus and is targeting many of the financial institutions across the region. The company has already sold licences to Citigroup and First Gulf Bank in the Middle East and it is also engaged in talks with Sharjah Islamic bank among others.
Initial plans to establish a dedicated regional office within two years have been brought forward. Graham has already applied for a licence to trade out of Dubai Internet City just six months after taking his post. He claims the Middle East is an untapped resource for the company and is confident that Datawatch products will take off.
“I was really shocked to see that we weren’t selling over here. In the financial year September 2002 to September 2003, before I took over as product manager, we did only US$1,510 in business. Since then we’ve seen tremendous growth and that’s been without a distributor. By the end of this financial year I want to be signing contracts for six figure sums in US dollar terms. If we don’t meet that target then I’ll feel that I’ve failed. If we roll out one enterprise solution for a big enough bank it will be a million dollar contract,” said Graham.
The financial industry is a key vertical market for Datawatch. The company claims its data search and retrieval software can help banks and other financial institutions come into line with the Basel II accord, which they have to be compliant with by January 2007.
Datawatch provides information management software for the organisation, management and searching of documents, reports, databases, and spreadsheets. Companies can use it to easily filter through numerous dense reports to find and extract specific information.
The vendor has solutions ranging from out of the box up to full enterprise level installations. Its most popular product is its Monarch software, which has sold over 350,000 copies worldwide.