Following the success of initial sales into the Banking sector within the region, Robert Graham, Product Manager for Datawatch in the Middle East, Europe and Africa said "It took me six months to find the right distributor. People in this region like to deal locally, so having a local partnership with e-Documan gives us wider scope. A lot of companies wanted to work with us, but e-Documan were asking me the right questions."
e-Documan will sell Datawatch products through its sub-distributors in Oman, Qatar, Lebanon and the UAE as well as handling larger accounts itself.
"The Monarch products are a valuable addition to our portfolio" said Mridul Ganguly, business consultant at e-Documan. Rob Graham added "e-Documan shares a lot of the same vertical markets as Datawatch and we will be embarking jointly to raise awareness across the industry about compliance issues and the implications to business, whilst being confident that we are able to offer a cost effective solution to our customers."
The financial industry is a key vertical market for Datawatch. The company claims its data search and retrieval software Monarch can help banks and other financial institutions come into line with the Basel II accord, which they have to be compliant with by January 2007.
Datawatch has a firm enterprise focus and is targeting many of the financial institutions across the region. The company has already sold licences to Citigroup and First Gulf Bank in the Middle East and it is also engaged in talks with Sharjah Islamic bank among others.
Initial plans to establish a dedicated regional office within two years have been brought forward and Rob Graham has already applied for a licence to establish an office at Dubai Internet City. He claims the Middle East is an untapped resource for the company and is confident that Datawatch products will sustain considerable growth in the region.