September 10, 2007
Dhandapani Finance Implements FinnOneTM Suite
IT solutions that can adapt immediately have become a major requirement for financial institution. Hence, to meet the demand, Nucleus Software Exports and Sun Microsystems have partnered with Dhandapani Finance - a Chennai-based listed company focusing on the financing of tractors, construction equipments, and heavy earthmoving equipment, etc. - for the the successful implementation of Nucleus's flagship product FinnOne Suite on Sun Fire series.
Prior to adopting Nucleus FinnOne solution, Dhandapani was using an in-house developed system. The company needed a strong infrastructure to support the solution and wanted a technology provider who would be able to provide reliability, availability, serviceability, manageability, and scalability. A solution was needed to simplify the functional procedures for their users. It also required a solution that would lower its total cost of ownership. Hence, it zeroed in on Sun as their products fit the company's requirements and the implementation was completed in record time.
This implementation of 3 modules of the FinnOne Suite - Customer Acquisition System (CAS), Loans Management System (LMS), and Collections-Delinquency Management System - was completed in record time. The entire suite was powered by Sun Fire T2000 as the database server and the Sun Fire X2200 M2 as the application servers, both running on Solaris 10 operating system
According to Ravi Ravichandran, CEO of Dhandapani Finance, "With the implementation of this solution we've seen a turnaround in our business and expect a strong growth in our business volumes in the coming years.
The implementation of FinnOne has simplified the functional procedures for our users, and enabled us to further deliver unique services. With the implementation, the company has been able to centralize the entire payment structure thus enabling easy origination and convenient disbursement of loans at all branches. Additionally, loans are processed on the basis of credit ratings thus leading to accountability and accuracy of the system.
K. P. Unnikrishnan, director-marketing (Alliances and Teleweb Sales) of Sun Microsystems India said, " This will allow Dhandapani Finance to take advantage of a secure architecture that will help secure higher performance and lower total cost of ownership, and thus help them achieve their strategic goals."
In line with the company's vision and social responsibility policy, Nucleus Software aims to provide software solutions for the management of rural credit. The resultant increase in lending efficiency will not only help bank and financial institutions in cutting down costs by reducing manual functional delays, but also benefit the end customer by giving them a detailed structure of their repayment schedules and other flexibilities.