Platinum gets boost in Asia from ECU demand
Despite the regional financial turmoil, financial software maker Platinum Software has not seen a slowdown in business except in Thailand, senior vice-president of worldwide field operations Kenneth Lally says.
'Companies still have to convert to year 2000-compliant products,' he said. 'That is driving people to make a decision.' The growing demand for products used for European currency units (ECUs) also has boosted Platinum's business in Asia, which accounts for 10 per cent of its revenue. Half of that is generated in Hong Kong and the mainland.
Platinum has launched a client/server version of its flagship Platinum financial accounting suite that helps organisations to deal with keeping three currencies - their own, the one from their business partner's country, plus the ECU.
The company, which billed itself as 'the financial software company', has been trying to get away from being seen as an accounting package firm.
Two recent company acquisitions will enable Platinum to enter into the areas of customer information systems and enterprise resource planning.
Its purchase of United States-based firms Clientele and FocusSoft would broaden Platinum's market focus and was part of its vision to shift towards being a provider of enterprise-wide solutions, Mr Lally said.
Future acquisitions might include human resources and payroll products, enabling the company to offer even more comprehensive packages.
Clientele specialises in customer management products such as Help Desk, while FocusSoft is a leading United States maker of mid-market manufacturing and distribution software products.
Mr Lally said he expected a smooth transition as Clientele and FocusSoft had been turned into divisions of Platinum Software and would continue to use their existing marketing and sales workforce.
Platinum's Clientele products are sold through a professional telephone sales organisation and a value-added reseller channel.
However, Platinum will recruit high-end resellers in Hong Kong, where it is looking to increase its consulting and sales force.
To cater for its FocusSoft business, Platinum is seeking distributors with expertise in the manufacturing industry.
The Clientele and FocusSoft products divisions are working on the timely integration of the sales, marketing, packaging and promotion of their products with the other Platinum Software products.
Mr Lally said the first products were due to be shipped as early as the first quarter of next year.
Whith has more than 25 years of sales and sales management experience in the computer industry, Mr Lally said he understood the importance of delivering total business software packages with sales and consulting help.
He has been credited with rebuilding the sales and consulting organisations of Cadence Design Systems, an electronic design car software company.
'I have learnt that customers not only want to buy products but also solutions,' he said. 'Platinum Software's consultancy unit has a unique capability in the mid-tier market, and is a key differentiator.'
