Laser Soft: cooperating with competitors
By Venkatachari Jagannathan | 20 Feb 2007
Chennai: Cooperation when not competing seems to be revised thinking at Chennai-based core banking solutions company Laser Soft Infosystems Limited seems to prefer cooperating with its rivals, even as it competes with them. It is offering product enhancement and support services to two of its rival core banking solutions company, i-Flex Solutions Ltd, Bangalore and Misys Banking Systems, London.
According to B Suresh Kamath, managing director, Laser Soft, around 50 of his staff people are located at i-Flex Solutions' office. "We compete against each other when it comes to bidding for product sales — core banking solutions and other products," explains Kamath.
Laser Soft expects to earn Rs4.5 crore from services and Rs17 crore by selling products this fiscal. Speaking about the product market Kamath says, "Many government and private banks have floated tenders for cash management, treasury software products. We are hopeful of getting good business."
Speaking on the roll out of corebanking solutions at the Kerala-headquartered Catholic Syrian Bank Limited he says, "The roll out will happen in three months."