Nutanix, Senior Com join forces for digital transformation

Thawipong Anotaisinthawee, country manager of Nutanix (right) and  Somkiat Ungaree, CEO of Senior Com (left)
Thawipong Anotaisinthawee, country manager of Nutanix (right) and Somkiat Ungaree, CEO of Senior Com (left)

The partnership between Nutanix Thailand and Senior Com Co Ltd, a local software solution provider, will help speed up the digital transformation of the country’s financial services and other sectors currently facing new challenges in consumer behavior and demand, according to company executives.

 

Senior Com’s H-Meter 2020 application is now on Nutanix’s Hyperconverged Infrastructure (HCI) allowing fast workload distribution to all customers’ systems, thus expanding their functionality and accelerating their digitalisation journey.

 

According to Thawipong Anotaisinthawee, country manager of Nutanix, customers need fast digital transformation to succeed in today’s context of new regulatory requirements and disruption from fintechs while agile organizations need resilient IT infrastructure that support new applications and software that allow effective data management and analytics. Overall, this gives businesses insights to operate at full potential.

 

 The H-Meter 2020, designed for high purchase and leasing enterprises, covers and coordinates the whole working processes from start to end with a dashboard for consolidated data and results to allow fast decision making, while sharply reducing the processing time to reconcile transactions at a day’s end from 4-5 hours to just 20 minutes., The new software and application have been deployed at Srisawat and T Leasing of MBK group, the country’s two major providers of high purchase and leasing services.

 

According to Somkiat Ungaree, CEO of Senior Com, the H-Meter 2020 software on cloud platforms allow customers to connect their partners’ and stakeholders’ system to comply with various regulations, including the new International Financial Reporting Standard 9 or IFRS9.

 

Somkiat said IFRS9 became effective on Jan 1 this year requiring financial service providers to meet new rules on reporting for better risk management in the high purchase and leasing businesses, especially with regard to loan-loss reserve provisions. The H-Meter 2020 software also helps enterprises process loan applications more efficiently while managing bad debts and loan restructuring better.

 

There are currently about 500,000 new cars and trucks as well as about two million motorcycles for high purchase contracts in the Thai market annually, while the loan market using owned vehicles as collateral is also huge totaling about 10 million contracts per year.

 

The IFRS9 is a game changer amid an economic slowdown due to the Covid 19 pandemic resulting in a higher demand for loans using owned vehicles as collateral. Loan demand spikes are forecast for the next 2-3 years due to the negative effects of Covid 19 pandemic. According to Somkiat, Senior Com has also developed a credit scoring system with a planned E-wallet for consumers to pay their loan instalments so that their behavior and spending data can be used as part of credit scores for further loan applications.

 

Senior Com earlier also provided the software interface system for Ford dealership in Thailand. According to Somkiat, one of the major customers, for example, has about 500,000 loan contracts so the firm needs to reconcile a massive number of payments and billings at the end of day, requiring the new software and application to do the work faster and meet new regulatory requirements such as IFRS9.

 

Thawipong said the Covid 19 pandemic has accelerated the digital transformation process in Thailand while a research shows that a majority of the populations around the world will prefer digital and online services by 2025 so enterprises that do not transform their operations will face problems from customers.

 

In addition, the Covid 19 pandemic has posed problems on business continuity due to lockdown and work from home requirements, making it necessary to upgrade the IT infrastructure to meet these new challenges, especially in terms of IT security, privacy and online personnel identification.

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