The enterprise solutions business is characterised by relentless innovations that lead to added features as well as improved performance of their solutions. More features have always help retain customers and capture new customers. While some enterprise solutions companies shelve product innovation in the face of challenging economic conditions those with long term vision continue to add features to their products. Markets after all turn around and only those that have made a mark in their respective spheres are set to benefit during good times.
Good times may well be around the corner, especially for those in the oil services business as they benefit from rising energy prices and increased exploration activities. Markets have seen increased buying in the oil services sector from rig manufacturers to oil drilling companies. Investors however are yet to catch up with specialized oil services companies such as those that provide enterprise solutions for energy companies.
The release of the WellPoint Intelligent Dashboard by Canadian Venture listed WellPoint Systems Inc (TSX-V: WPS) therefore becomes a matter of significance. The WellPoint Intelligent Dashboard gives users easy point and click access to critical industry and company data - all from a single, central point of access. It places powerful analytical reports and key performance indicators (KPI's) directly into the hands of executives and operations personnel who need to accurately measure financial, lease and production activity and performance.
The Dashboard uses SQL Reporting Services and cube technology to aggregate data and measurements from WellPoint's software as well as third party applications. The system utilizes WellPoint's data and a standard SQL Datastore to produce Business Intelligence objects. Customers can easily connect to their data in the WellPoint systems and any other SQL compliant system, allowing them to create intelligent dashboards, providing analysis and insightful reports in just a few clicks.
According to Richard Slack, President and CEO of WellPoint companies using dashboards are achieving higher performance than their peers. The addition of the Dashboard feature to WellPoint further indicates the company’s commitment to providing solutions that help the customers run their businesses better. Meanwhile the company has received confirmation that a minimum US$3.3 million payment will be made to the Company from Export Development Canada (“EDC”) in is pursuant to the terms of an accounts receivable insurance policy taken by WellPoint to minimize commercial risks associated with a contract for an existing customer in South America. The payment puts the Company in a strong financial position to implement its business plan for the balance of 2009 and in coming years.
Admittedly, getting the head around WellPoint’s business is not particularly easy. Though not an exact comparison, it is somewhat similar to the business Gemcom Software International is engaged in. While Gemcom provides enterprise solutions to mining companies WellPoint provides the same to the Energy companies. Mining investors no doubt are familiar with Gemcom.
Gemcom was acquired through an acquisition vehicle indirectly owned by affiliates of JMI Equity Fund VI, L.P., Carlyle Venture Partners III, L.P. and Pala Investments Holdings Limited in 2008 for some $190 million.
About WellPoint Systems Inc.
WellPoint provides premier software and related services for managing critical operations within the energy industry. As a Microsoft Gold Certified Partner since 2005, WellPoint is the only Independent Software Vendor (ISV) and Microsoft Dynamics partner dedicated to the energy sector. It is breaking new ground with the creation of a more comprehensive, integrated energy software suite based on existing Microsoft ERP technology that utilizes state-of-the-art Dynamics AX® and .NET architectures. WellPoint also provides software and services under the BOLO, IDEAS International and iSoft brands. The company has operations in Denver, CO, Houston, TX, Livingston, NJ, Tampa, FL, Tunis, Tunisia and Pretoria, South Africa.