SOURCE: QUMAS

March 06, 2006 12:26 ET

QUMAS and HCL Ink Distribution Agreement

Leading Indian IT Services Company to Sell and Support QUMAS Compliance Solutions in Asia Pacific Region

CORK, IRELAND -- (MARKET WIRE) -- March 6, 2006 --QUMAS, the leading developer of enterprise compliance, governance and risk management solutions, today announced that it has signed a distribution agreement for the Asia Pacific region with HCL Technologies Limited ("HCL"), India's leading IT products and services company based in New Delhi. HCL is currently the sole distributor of QUMAS products in the Asia Pacific region.

HCL Technologies ("HCL") is a part HCL Enterprises, a $3 billion global IT enterprise founded in 1976 and one of India's original garage start-ups. Leveraging its offices across India and rest of the Asia Pacific region, HCL will distribute and support QUMAS compliance solutions to their vast network of vertical industries which includes life sciences and financial services.

"We are fortunate to team up with one of the most dominant IT services companies in India," said Paul Hands, QUMAS CEO. "This agreement is one of the results of our recent trade mission to India with Enterprise Ireland. Clearly, the need for advanced compliance management is not limited to Western countries alone, but is a top priority for vast numbers of corporations worldwide. Having a strong relationship with a company such as HCL in India and Asia Pacific affords us a gateway into the fastest-growing region in the world today."

The QUMAS solution, known as the QCompliance Suite, is an integrated compliance framework that ensures organizations remain in a state of constant compliance while covering multiple regulations with a single solution. Designed to allow organizations to initiate and maintain a sustainable compliance program, the QUMAS solution brings together the multiple disciplines of policy management, process enforcement, monitoring and reporting into an integrated solution. QCompliance is architected to streamline, organize, and automate compliance-related activities on an enterprise-wide level. Additionally QCompliance is highly configurable, lending itself to handling the current and future compliance requirements, across business disciplines, without coding.

"HCL already works with clients in the life sciences and financial services industries which must stay in compliance with a number of worldwide regulations," said Jaya Vaidhyanathan, BU Head -- Business Consulting Services of HCL. "Our customers demand high quality products. QUMAS has a proven solution that fits strategically into our portfolio. We are confident our customers will gain tremendous upside from using the QUMAS suite of compliance tools."

About HCL Enterprise

HCL Enterprise is a leading Global Technology and IT enterprise with annual revenues of US $3 billion The HCL Enterprise comprises two companies listed in India -- HCL Technologies & HCL Infosystems. The 3-decade-old enterprise, founded in 1976, is one of India's original IT garage start-ups. Its range of offerings span Product Engineering, Technology and Application Services, BPO, Infrastructure Services, IT Hardware, Systems Integration, and distribution of technology and telecom products. The HCL team comprises 32,000 professionals of diverse nationalities, who operate from 15 countries including 300 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information please visit www.hcl.in

About HCL Technologies

HCL Technologies is one of India's leading global IT Services companies, providing software-led IT solutions, BPO and remote infrastructure management services. Having made a foray into the services domain in 1997-98, HCL Technologies focuses on technology and R&D outsourcing, working with clients in areas at the core of their business. The company leverages an extensive offshore infrastructure and its global network of 26 offices in 15 countries to deliver solutions across select verticals including Banking, Insurance, Retail & Consumer, Aerospace, Automotive, Semiconductors, Telecom and Life Sciences. For the twelve-month period ended 31 December 2005, HCL Technologies, along with its subsidiaries, had revenues of US $864 million (Rs 3,890 crore) and employed 28,182 professionals. For more information, please visit www.hcltech.com

About QUMAS

With over a decade of experience, QUMAS is the only global compliance software company offering a complete solution to regulated industries. Recognized as the world leader in Enterprise Compliance, Governance and Risk Management, the company has over 250 customer deployments including global leaders such as Fidelity Investments.

QUMAS is the only vendor that offers a suite of products that enables financial services and life sciences companies to achieve complete, enterprise-wide compliance with a broad range of regulations and initiatives including Sarbanes-Oxley, Investment Company Act 38a-1, USA PATRIOT Act, Anti-Money Laundering, 21 CFR Part 11, cGxP, eCTD, Clinical Operations, Regulatory Affairs and Change Control.

QUMAS provides highly configurable applications, ready for validation and deployment within regulated environments. Based on open systems platforms, QUMAS technology integrates seamlessly with existing corporate databases, applications, operating systems and hardware from most major vendors.

For more information visit http://www.qumas.com.

Forward-looking Statements

Certain statements in this release are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies/ entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.

All trade names, trademarks, and service marks are the rightful property of their respective owners.

Contact Information

  • Contacts:
    Michael Kane
    Director of Marketing
    QUMAS
    (978) 257-2179

    Manisha Singh
    HCL Technologies
    Tel: +91-120-2520917
    +91 9811816750
    e-mail: Email Contact

    Nora Pradhan
    genesis
    Tel: +91 9899878182
    e-mail: Email Contact