Functional banks on Malaysian business

LOCAL software developer Functional Software has signed a six-figure contract for the supply of back-up management software to Bank Industri in Malaysia.

Functional Software managing director Alan Main said Bank Industri had been impressed with the success of the company’s products utilised by Malaysia’s central bank Bank Negara.

“Bank Industri have seen what has been done at Bank Negara. We could prove to them that the solution does what it says it does and it’s at a lower cost and easy to use,” he said.

“A lot of people like it because we have an extra layer of software so you don’t need someone with technical knowledge to administer it.”

The company is awaiting sign-off on a new venture in Korea and has signed up a distributor to market its products in Europe.

“We develop system management tools and the idea is to compete against the large American vendors to better or equal the functionality and provide it at half the price,” Mr Main said.

“We have an excellent team in place, a great customer base and we are winning business head to head against international competition on the basis of our lower total cost of ownership, faster return on investment, good reference accounts and implementation of track record.”

Mr Main said his company had been successful in Malaysia because it could provide cheaper yet just as effective solutions.

“Just like Australia, businesses in Malaysia are scaling back their IT expenditure and looking for better value. They need to do things smarter with their existing IT resource base,” he said.

“We are seeing a growing demand for solutions that can improve user productivity and demonstrate a lowering of direct and indirect costs.”

Mr Main said that there was growth in the software market for monitoring tools and it was expecting to win more contracts involving its products.

“We are seeing similar market trends in the monitoring space that we saw in the backup space five years ago. It’s a market with substantial growth but we are seeing more competitors in that area,” he said.

Functional Software’s monitoring software product sentinel3G was a finalist in the recent Western Australian Information Technology and Telecommunications Awards.

p          See WAITA Awards page 18.

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