From the Desk of...

Hi Team,

The growth and development of our India capability has been a source of pride and prestige for the company. The integration of Softkee Informatics into the ebusinessware Group, has enabled ebusinessware to become a global firm and has opened new doors to new opportunities and new markets with new clients. In addition to sales growth in the US, we have also seen continued growth in Singapore and the U.K., - all around us are increased opportunities to serve the needs of our global clients!

As we look ahead, the gem of our core competence will be to leverage our presence into a full-scale offering of industry-oriented solutions that integrate business processes and technology. You have made this step possible and will reap the rewards of making our presence state-of-the-art, honest and agile. We will continue to invest in the leveraging of intellectual property for ebusinessware - solutions in reference data, reconciliation services and quality assurance are the areas we will focus on for 2004 / 5. Going forward, our vision is to become the premiere provider of intellectual capital to the financial services industry - with disciplined thought, disciplined people and disciplined actions, we can rise to the top of the field. As such, the contributions of our team toward CMM certification and process leadership are priceless.

Our first quarter ending June 30 was the strongest quarter we have ever experienced, with sales increased over 80% from the prior year and profitability increased 355% from last year's 1st quarter. In addition to our current book of business, we are actively closing the following deals:

Assisting Citibank to re-engineer their Derivative Counterparty Trading Book
Assisting WestLB to build a CreditDerivative Trading System
Implementing CreditDimensions for DTCC
Increasing project scope at Navisys, IDS and Prudential
Increasing team in Singapore
Increasing team in UK to assist Iris Financial in their Trading System

In addition to the above, there are a few other proposals that we also have outstanding. As you can see, we anticipate strong growth through the year and we are aggressively recruiting additional team members while we simultaneously seek ways to grow the team that has shown the dedication and commitment to grow the business - you are in that group of people.

As the year progresses, we will find opportunities for people to take on additional responsibilities and grow their careers as they contribute to the business growth. We are launching a company newsletter this month as a way to increase communication because we have all been running pretty hard over the past few months to deal with the growth in the business.

- Edward Hoofnagle
Chairman and Chief Executive Officer
 
President's Board...

Space for Sanjeev Midha's ImageWe have grown to be a true multinational organization from a small company in just a few years. It has been due to exponential growth in spite of a rather challenging economy over the last few years. It has been very satisfying to see that our growth has stayed in equilibrium when looked at from various angles.

Our growth has been uniform from geographical point of view both in the US and India along with recent expansion in Singapore and London. We have continuously attracted very senior people along with bright young talent. We have expanded our skill-set in different areas of technologies from COBOL, Java, .NET, XML, APL to E.Piphany, IBM portlet server etc. Similarly, our industry coverage has been consistently augmenting from Risk management, Trading & Credit Derivatives systems to include Insurance, Wealth management, Distance Learning in the financial industry, Retail Banking as well as multi-lines of business, Hedge funds, and more. Our clientele has been a good mix of top financial companies in the world and extremely focused niche financial boutiques. To top it all we have achieved considerable maturity in the areas of sales, delivery, processes, and HR equally well.

It is difficult to pin point or attribute this phenomenon of success to any single person or factor. All of the groups within the entire organization have contributed to our expansion via synchronized strides. Such an observation is very unusual in our turbulent and dynamic industry.

At the same time, the biggest gainers from the above growth phenomenon are our people. Obviously, our people were not left behind when we were growing. Average promotion period has been excruciating fast i.e. Well within 1-2 years. Of course, some of you have been fortunate enough to see multiple promotions in these few years.

Kudos to all of you and trust you to continue to participate in ebusinessware growth for it is your growth as well.

- Sanjeev Midha
President and Chief Technology Officer

Partners’ Retreat was held at Ed's residence on 16th May 2004. Elaborate discussions on new initiatives and forthcoming projects provided an opportunity for exchange of ideas amongst all the partners – Ed, Sanjeev, Ashu, Roy, John, Rajesh, Masood, Akhil, Harish and Gurpal.


The Partners also gathered for a get-together at Sanjeev’s residence on 2nd June, 2004.
 
 
Sandeep Singh was promoted to Associate Partner in New York.
Mohit Joshi was promoted to Associated Partner in New Jersey.
Srinivas Reddy was promoted to Associate Manager on July 19, 2004.
Richa Gauba was promoted to Module Leader, on July 16, 2004.
Rajiv Ranjan was promoted to Project leader on July 16, 2004.
. .

A group of five senior software engineers, from India office Shalabh Agarwal, Susanta Dash, Sajjan Chauhan, Kapil Arora and Hemant Gaur are undergoing training at IRIS-Financial, London.

Prashant Kapahi Credit Dimension India Team underwent a training program at adsatis, London.
  . 

Pankaj Gupta, Chief Technology Officer India Operations, left for a UK and US tour early this month. Pankaj's tour is aimed at improving interactions and exchanging ideas between onshore and offshore teams.

   

ebusinessware is proud for its employees who are selected to join ongoing projects in the onshore office: Sandeep Singh, Gaurav Malik, Asheesh Sharma, Chanakya Ganguli and Manpreet Singh.

ebusinessware is equally happy about the movement of Mahua Chowdhary, Ramakant Goswami and Vasant Kumar to our Singapore office. With Sharad Mohan all set to leave for Singapore later this month, the team is growing.

After completing his training at CSFB London, Somnath Mukherjee will be joining our team at Singapore office.
Vikas Dutta has joined us as Associate Manager and is slated to join our Singapore team, later this month.
. .
 

 

ebusinessware Editorial Group was formed and entrusted with the responsibility of compiling, editing and producing newsletters, case studies, technical papers, website enhancements and promotional activities. The group comprises of Paromita Ghosh, Sudhir Jagtap, Navneet Singh and Jai Sethi.

A group of software engineers and sales support team completed a prestigious communications course, conducted by Peach Communications. The course was aimed at enhancing inter-team and intra-team communications. The group also underwent a workshop on understanding the culture of UK.

E.Piphany training has been scheduled for some of ebusinessware personnel for the month of August. E.Piphany is one of the best CRM products in the market. We are trying to arrange ways to train the offshore team in near future.

ebusinessware HR team has launched a 360-degree communication programme to identify and tap the intellectual capital of the company.

HR department initiated an award programme for the EA-ESUB team in appreciation of their exceptional delivery schedule.

The SEPG has initiated a knowledge exchange programme to enhance the inter-team and intra-team

In an effort towards promoting Community Development and neighborliness, ebusinessware HR Department funded an education programme for poor children by donating Rs 1.25 lakh to a local girls’ school, on behalf of the company

During an Open House session on July 16, 2004 the launch of English Week was announced. The Week commenced July 19, 2004.
EIASE conducted an extensive training programme on Finance and UniRAD – handbook on methodology framework, to a batch of Project Leaders and new joinees at India office. Due to large number of inductions in US, Rajesh Abhyankar has been imparting UniRAD training to new joinees in New Jersey and Connecticut recently.

Manas Pradhan recently won championship's trophy during PRIMUS Table Tennis Competition in US.

People form the most important asset for any organization and without an adequately trained workforce, it is difficult to deliver outstanding results to the clients. Committed towards continuous organizational and workforce development, ebusinessware launched EIASE.

While conducting training programs, EIASE focuses on three major areas:
 1.

Project based training: Before every project, a thorough gap analysis is done between the skills requirement of the project as well as the current skill level of the team members. Depending on the gap analysis, employees receive training in several areas either before the project or on a continuous on-going basis during the project. If the training resources cannot be located internally, ebusinessware is committed to hiring the best available outside resources for this purpose.

 2.

Employee empowerment: ebusinessware offers a variety of courses in its curriculum, which are geared towards empowering employees with non-technical skills such as client communications, leadership, teamwork etc. Employees can always sign up for these courses as well as other technical courses in which he/she is interested in, as long as the employee has written consent from immediate manager.

 3.

Continuous improvement: Towards this end, ebusinessware has established a core group – EIASE Founding Group, whose responsibility is to constantly measure performance and identify opportunities for improvement. Further, there is a strong process of feedback built into the training program where anonymous feedback is collected and acted upon after each course and for the whole training program in general.

ebusinessware would in the future like to expand its training program as a forum and a consortium for leading practitioners in the industry to share best practices in applied software engineering and train other people to eventually raise the overall standard of the industry.

 
 

As an Associate Manager, Mahua is currently deputed at CSFB Singapore. Prior to this, she was looking after offshore development for EA-Lite project. She also shared her technical expertise with PRIMUS.

Prior to joining ebusinessware, She was employed with e-ARMSolutions Private Limited, New Delhi and completed around 3 commercial projects that are already deployed at client site.

She has an extensive experience in DHTML, XML, JavaScript, VBScript, JSP, ASP, Java, VB Oracle, DB2, WebSphere application server, Java Web Server.

She holds certifications in ‘MCSD’ and ‘DB2 Family Fundamentals 7.1’


With over seven years of extensive experience in the financial services, his primary responsibilities include providing strategic inputs for successful execution of financial data management projects. He also operates in the capacity of business analyst for financial software projects. He conducts training programs for both – data analysts as well as a team of software engineers.

Prior to ebusinessware, Sudhir worked in various capacities; as an independent Capital Market Strategist - providing consulting services on trading strategies, as a business analyst for (www.outlookmoney.com) - India’s premium personal finance portal & as a retail banker with a renowned nationalized bank.


Sudhir earned his B.E (Mechanical Engineering) degree from PEC, Punjab University. He also holds an MBA (Finance) from University of Rajasthan.

 

Akhil is a Technology Partner at ebusinessware. Akhil Nigam was part of the initial ebusinessware, Inc. team in 1999 after working with Fixed Income Traders to develop front office technology to manage their risks and portfolios at Societe Generale. He also developed various analytical applications to monitor market risks and historical analytical tools to control market and historical risks. Before joining Societe Generale, Akhil worked in the Fixed Income department of Lehman Brothers, developing various applications in 3-tier architecture using Microsoft Technologies, such as. VB, VC++ and COM/DCOM.

At ebusinessware Akhil has been instrumental in building Honey Street, A Capital Markets Portal, The Reporting module of the ICOR Financial Systems. He elevated to the level of team lead in Retail Distribution Portal QA effort and Financial Planning System at Prudential.

Currently, he is designing the business strategy at Risk management group Credit Suisse First Boston, NY. Most of the new applications were developed using Java / J2EE technology.

Akhil grew to the level of Technology Partner and Director level at ebusinessware rapidly. His balanced approach to applying his industry knowledge and technology expertise combined with fine communication has helped him achieve this status at a very young age.

Akhil graduated Summa Cum Laude with a B.S. in Electrical Engineering from the Cooper Union for advancement of Science and Art. He also holds a M.E. in Financial Engineering from Columbia University.


As a Senior software engineer, Shalabh is currently undergoing training at IRIS-Financials, London. Prior to this, he was looking after offshore development for EA Life project. He has also shared his valuable experience with key projects like S1 and VetConnect.

She has an extensive experience in J2EE, Java, Weblogic Application Server, ATG Dynamo, RSA-BSAFE Crypto–J and Phaos J/CA toolkit.

Shalabh received his bachelor degree (B.Sc) from Rohilkhand University and PGDCA from MCRP University Bhopal.

 
 

ebusinessware offshore unit dedicates this note in appreciation of the Sales team’s commendable success.

ebusinessware's initial years have been filled with exciting learning experiences. Although our brand was pitched against global stalwarts, the maiden, but highly successful strategies of the sales team never floundered in firmly establishing it. Converting potential clients into real customers is not one of the easiest targets to achieve. But the elan with which ebusinessware sales team transformed each opportunity into a definite deal has been worthy of highest appreciation.

The forte of ebusinessware’s dedicated sales team has been its five-point execution plan that the sales personnel implement to achieve the desired results. The plan entails five key elements that merge into a successful, replicable, dependable and results-producing sales formula. These five key elements are: Targeting, Communicating, Sales Tools, Sales Process and Sales Training.

With “World becoming a Village” and “Businesses becoming Local”, the sales team’s arena is diverse to say the least. Where ‘Global’ has become the buzz word, the team’s versatility in selling in myriad technology domains has surely proved to be a benchmark for others to emulate. Entire ebusinessware family appreciates your dedication and hard work, and re-assures you of our delivery capacity keeping pace with your efforts.

ebusinessware’s winning sales effort is a meticulously detailed, documented, replicable set of actions, combining the sales message with the sales tools, which are practiced with precision. ebusinessware stands apart from the fairly routine and boring maintenance operations by exploring exciting new challenges, which originate from Sales Team’s hard-won efforts on the "front line".

 
 

The ebusinessware India office has witnessed a tremendous pace of growth over the last year. Each project team has effectively met all its challenges and client satisfaction has been the reward. Each time, new teams have been formed and existing teams have grown, the challenges and requirements before the HR and Administration Department were colossal. The Department has worked round the clock, on very tight schedules and has come up with resources for every requirement on every occasion. The office has been abuzz with the new team members and seniors initiating them in ongoing projects.

 
 

ebusinessware commenced Singapore operations as a technology partner to Credit Suisse First Boston in Risk Measurement & Management domain. In this position, we have helped and continue to help CSFB realize bringing Risk Measurement and Management process under the purview of firm wide, homogeneous & strategic solutions — away from the current fragmented approach.

This helped not only to improve the timelines for regulatory risk reporting, but also to bring down the costs. The success of our foray into CSFB, Singapore can be measured from the fact that Risk IT, Singapore is one of the fastest growing areas within Singapore Development and Support Center — CSFB's initiative to offshore all possible development and support work to Singapore. We plan to expand to other functional areas within CSFB as well as to other financial organizations.

 
 

Employees ‘make things happen’ in any organization. That ebusinessware knows this truth, is proved by its genuine effort to create an exciting working environment, which helps its people to develop their full potential. It encourages open communication, personal development and creates opportunities based on performance. The congenial work environment here fosters genuine employer-employee relationship by recognizing the latter’s contribution to success and growth.

There is tremendous scope not only to develop professionally, but also for personal growth and development. The regular training programmes and seminars conducted ensure all-round development of employees. Such measures encourage, motivate and integrate people at work and reinforce our belief that success is not an individual effort but a joint effort of teams.

ebusinessware has set up a perfect combination of authority and responsibility among its employees. It integrates a rule of performance and growth for all. Its reputation for integrity attracts both customers who see trustworthiness and employees who value character. I am really proud to be ebuinessware.

 
 
Manpreet Singh with Nikita To Rajesh Kumar, daughter Neha
Chanakya Ganguly with Rangoli    
Vivek Saxena with Nishi  
Srikanth Tamatam with Swapna Feedback