Sand Technology, an information management software vendor, has announced that its South Korean reseller, FreeSat, has expanded its Financial Services portfolio with three new customers implementing the SAND/DNA product suite using FreeSat's consulting services.

 

FreeSat specializes in providing business intelligence consulting services and IT products for information lifecycle management, and has been a Sand reseller for five years.

 

Over the past three months, FreeSat has increased their presence in the Financial Services market, company officials say, "working with a number of South Korean financial institutions including Woori Bank, a main arm of Woori Finance Holdings." FreeSat officials say they will provide Woori Bank with an enterprise data warehouse product.

 

"The continuing data explosion is a challenge facing organizations all over the world," said Linda Arens, Vice President, Global Alliances and Marketing, Sand Technology.

 

SAND/DNA is built to let users retain "massive amounts of compressed data in a nearline repository for extended periods," company officials say, "in accordance with any applicable business rules and regulatory requirements."

 

Last week, Sand Technology, a vendor of enterprise information management products, has reported results for the nine-month period ended April 30, 2008 with a net income for the third quarter of fiscal year 2008 of $8,441 on revenues of $1,905,984, compared with a net loss of $753,440 on revenues of $1,559,407 for the third quarter of fiscal year 2007.

 

"The improvement in our net results in comparison to the same period last year reflects the changes we have made to the company to position it for growth in the years ahead," said Arthur Ritchie, President and Chief Executive Officer of Sand, adding that the company is "anticipating increased market interest" in their Sand/DNA products, including the new Sand/DNA for SAP (News - Alert) BI offering.

 

Ritchie pointed to the signing of Procter and Gamble for the Sand/DNA for SAP BI product as recent hopeful signs. "We are optimistic that the continued growth of our global partner ecosystem, along with more aggressive marketing efforts, will help us realize our potential," he said.

 

Late last year, Sand announced that it has entered into a partnership agreement with Inforte, a Business & Decision consulting firm specializing in Business Intelligence and CRM.