HACKENSACK, New Jersey,
October 21, 2010
/PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC and
TASE: NSTC), a global provider of IT services and solutions,
announced today that it has been awarded an approximately
NIS 4 million, or approximately
$1.1 million contract from Israel
Direct Insurance (IDI) to implement a company-wide, SAP-based,
enterprise resource planning (ERP) system.
The new ERP system will comprise financial, logistics and human
resources (HR) modules. The system will encompass a variety of
activities including accounting, procurement, fixed asset
management, budget and control, treasury, cash flow management,
pricing and others.
"The new ERP system is a quantum leap in our enterprise IT
systems and will help us to further streamline and improve IDI's
processes," said Raviv Zoller, IDI's
CEO. "Increased efficiency and rapid decision-making are key to
better profitability in the competitive insurance market, and the
new system will enable us to continue to navigate the market
effectively in the coming years. Following a competitive bidding
process, we selected Ness Technologies for the implementation of
the ERP system. Ness has a well-deserved reputation for excellence
in mission-critical, enterprise-wide system implementations, and we
are very comfortable putting our trust in Ness for this important
engagement."
"This contract is another step in the ongoing successful
expansion of our ERP presence in the insurance and banking
industries, and further strengthens our position as leading
provider of IT services to financial institutions," said
Effi Kotek, President of Ness
Israel. "Our vast experience in SAP systems and the financial
sector, and the deep knowledge of our experts, will enable us to
provide the highest level of implementation services to IDI."
"The signing of the agreement with IDI is another link in SAP's
chain of successes over the last year," said Miki Migdal, managing director of SAP Israel.
"IDI joins 3,000 customers, including 200 large organizations, that
chose to adopt SAP's solutions. As Israel's largest provider of business
software, SAP provides its customers, including customers from the
financial and insurance industries, with advanced software
solutions as well as consulting, support and professional guidance
that are the result of many years of experience. The engagement
will provide IDI with a solution to its needs, and will help, at
the bottom line, to achieve the organization's business
objectives."
About Ness Technologies
Ness Technologies (NASDAQ: NSTC and TASE: NSTC) is a global
provider of IT and business services and solutions with specialized
expertise in software product engineering; and system integration,
application development, consulting and software distribution. Ness
delivers its portfolio of solutions and services using a global
delivery model combining offshore, near-shore and local teams. With
about 7,800 employees, Ness has operations in North America, Europe, Israel and India, has customers in over 20 countries, and
partners with numerous software and hardware vendors worldwide. For
more information about Ness, visit http://www.ness.com.
About Israel Direct Insurance
Established in 1994, Israel Direct Insurance (IDI) is
Israel's pioneer of direct
insurance and the largest company of its kind in the country. IDI
offers a broad range of insurance-related services, including motor
and homeowner's insurance policies, life insurance, healthcare
insurance, mortgage insurance, business insurance, and other
products.
Forward Looking Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements often are preceded by words such
as "believes," "expects," "may," "anticipates," "plans," "intends,"
"assumes," "will" or similar expressions. Forward-looking
statements reflect management's current expectations, as of the
date of this press release, and involve certain risks and
uncertainties. Ness' actual results could differ materially from
those anticipated in these forward looking statements as a result
of various factors. Some of the factors that could cause future
results to materially differ from the recent results or those
projected in forward-looking statements include the "Risk Factors"
described in Ness' Annual Report of Form 10-K filed with the
Securities and Exchange Commission on March
15, 2010. Ness is under no obligation, and expressly
disclaims any obligation, to update or alter its forward-looking
statements, whether as a result of such changes, new information,
subsequent events or otherwise.
Media Contact:
David Kanaan
Intl: +972-54-425-5307
Email: media.int@ness.com
Investor Relations Contacts:
Drew Wright
USA: 1-201-488-3262
Email: investor@ness.com
Maya Lustig
Israel: +972-3-767-5110
Email: maya.lustig@ness.com
SOURCE Ness Technologies Inc