CSE selects OpenArc BI Solution for market data

From left : OpenArc Systems Management Group Marketing Manager Nadeep Punchihewa, General Manager Prabhath Nedurana, Director Projects Dinesh Rodrigo, Director Vijith Sinhabahu, Chairman/CEO Daya Hettiarachchi, Colombo Stock Exchange Chief Executive Officer Rajeeva Bandaranaike, Chief Operating Officer Renuke Wijayawardhane, Chief Information Officer Chandrakanth Jayasinghe, Head of CDS Nalin Fonseka and Manager System Operations Kaushal Siriwardena

OpenArc Systems Management, a pioneer in providing software solutions to banking and finance industry in Sri Lanka recently launched its brand-new product platform for implementation of Business Intelligence on the cloud for any business enterprise. The new product named as BIRD (Business Intelligence, Reporting and Bigdata Analytics) was launched in partnership with Sriyamsoft India, one of the OpenArc partner companies. 

Colombo Stock Exchange entered in to an agreement with OpenArc Systems for the implementation of total BI solution for market data analytics, reporting and dissemination of dash board information to internal users, stock brokers, listed companies and investors. OpenArc will be implementing the proposed system in stages and with the implementation of this new solution, all listed companies and investors will have a great opportunity to receive meaningful information dash boards through their mobile phones and tabs. In time to come all listed companies and investors will be able to subscribe for the information dash boards at a very nominal monthly fee. 

OpenArc is celebrating its 25th anniversary in this year 2017 and hoping to launch series of new solutions soon catering to information systems needs of corporate entities as well as the mass market consumers. This goes hand in hand with the company vision statement which states that it wants ‘to be a world class technology company and an Industrial Campus, financially and spiritually successful to give better life and happiness to mankind through best innovative technology solutions’.

At the CSE contract signing, OpenArc CEO Daya Hettiarachchi said that the new product platform ‘BIRD’ caters to next generation information challenges of corporate world such as Multi-Data Source Compatibility, Report automation, Multi-device support, Elastic in memory Databases, Predictive Analytics and Artificial Intelligence that should deliver high performance management information in a real-time environment. In order to provide state-of-the-art business analytics solutions through user definable Dash boards at the highest level of performance, this new product uses futuristic technologies and concepts such as Meta data, Elastic In-memory databases, Intelligent Machine learning algorithms, MapReduce architecture, etc.  

This new product platform will be compatible with most of the widely used corporate data base systems such as Oracle, Informix, MS SQL etc., and any Open Source databases and Spreadsheets too that companies may use to store data within their Enterprise software applications. The BIRD servers installed at client sites or at data centres on the cloud shall be linked and synchronised with those existing live databases at client sites. Then user definable dash boards will be provided on on-premises networks or on mobiles and other portable devices. 

“Compared with the most of the Business Intelligence solutions that are presently available in the market place this solution will be much more futuristic, easy to implement and use, technologically advanced and affordable to many customers irrespective of their size of the organisation. We have made Business Intelligence (BI) affordable to every company and organisation without having to go through conventional data warehousing and mining tools which cost the users huge amount of money and implementation efforts,” Daya Hettiarachchi added.

The total Information Management System solution offered by OpenArc includes business analytics and consultancy services provided through a new BI unit setup at OpenArc under direct leadership of the CEO Daya Hettiarachchi. 

“Information Systems Engineers attached to this unit shall undertake to develop and implement best Business Intelligence Systems for any corporate entity irrespective of the business sectors they are in; whether it is Engineering, Manufacturing, Banking and Finance, Hospitality, Education, Health, Research institutes or any other. We shall study and recommend the best information system with decision focused, dashboards driven information that we will disseminate on hand held devices including mobile phones and Tabs for them to make prudent, informed business decisions. This will make a paradigm shift and new trend in how the entire community will make more meaningful, prudent decisions based on analytical information dash boards coming to their smart phones and tabs,” Daya Hettiarachchi explained his vision.

“All corporate entities who have interest in setting up of next generation management information systems with business analytics may now join ‘OpenArc CEO Meet-up for BI on the Cloud’, the CEO forum that we have organised at OpenArc directly under senior management team with multidisciplinary industry exposure. We will be more than happy to freely present this state-of-the-art solution and share our wide knowledge and professional experience in Manufacturing, Finance and IT sectors in building management information systems and thereby helping all the business enterprises achieve better business results in their day-to-day operations.” 

Daya Hettiarachchi further emphasised the company vision in working in partnership with all corporate establishments in the country who would like to use this new product. Through the new partnership with CSE, he invites all the listed companies, stock brokers, OpenArc clientele and any other prospective organisation to join the ‘OpenArc CEO meet-up for BI’.