WPSPro, WPSCorporate expedite full compliance with UAE Wages Protection System
Unity Infotech, one of the fast-growing information technology companies in the region, has revealed that demand for regulations compliance products and professional support services has picked up in the past few months, as banks, financial houses and small and medium enterprises (SME) seek to comply with the government's new regulations on workers' wages.
Unity Infotech disclosed that the UAE Ministry of Labour's (MOL) enforcement of the Wages Protection System (WPS), an initiative launched in 2009 to safeguard the wages of workers from defaults and delays, has opened a new niche market for bespoke WPS compliance solutions and related value-added services in the UAE's business community. To address the new requirements of clients in the country, Unity Infotech revealed that it has recently launched WPSPro, a customised WPS compliance product for banks and exchange houses, and WPSCorporate, a WPS compliance solution for corporate customers.
"This is a very crucial transition period as businesses face several sensitive issues concerning cost-efficiency, stability, security and scalability in their efforts to align their existing systems with the new salary disbursement regulations. These challenges have certainly prompted banks, financial houses and SMEs to seek professional support and subsequently rely heavily on specialists to help them complete and expedite the entire process," said C. Balasubramanian, Director - Banking & Finance Solutions, Unity Infotech.
"Unity Infotech has taken into account the specific needs and expectations of our clients in the development of our WPS product suite. For banking and financial customers, we have developed WPSPro on the latest Microsoft ASP.Net technology, delivering a custom-built solution that covers all the cycles mandated by the WPS. In addition, WPSPro can be easily extended to integrate with any of the core back-end system of banks, which we believe is an important value-added functionality," added Balasubramanian.
The first few banks that have complied with the UAE's WPS regulations through WPSPro include, Banque Misr, El-Nilein Bank and National Bank of Oman. Unity Infotech revealed that a key feature of its packaged compliance solution was the completion of the installation process within just a few days after signing the agreement with the banks. Unity Infotech also disclosed that it has signed or is in the process of signing several other banks and exchange houses in the UAE for the WPSPro solution.
WPSCorporate, on the other hand, has been designed as a convenient, user-friendly and economical solution for corporate organisations, particularly small and medium companies in the UAE.
Balasubramanian said: "WPSCorporate is a SIF convertor and a mini payroll processing system that enables small and medium businesses in the UAE to adhere to WPS regulations. The application is very user-friendly and can be installed and configured easily by any user with little IT knowledge. It is a flexible solution that can generate the Salary Information File, which our clients send to their banks for salary processing. The system can also be used as a stand-alone utility to just convert any ASCII format file or Excel file containing the required data to the SIF format."
Aside from WPS compliance products and services, Unity Infotech has also developed several other IT solutions and value-added offerings that target banking, financial and corporate clients in the UAE and the rest of the Middle East.
"Our business model is geared towards providing customers best-of-breed technology solutions in a very cost-effective way. Our main thrust is prompt and efficient delivery of products and customised solutions and services, which we believe will help clients reduce turnaround time for ROI. We understand the value of timely, proactive support, which allows our customers to go up and running at the earliest," concluded Mr. C. Balasubramanian.
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About Unity Infotech
Unity Infotech is a fast-growing, UAE-based IT solutions provider that mainly focuses on the banking and finance sector. The company also offers various IT solutions and services to small and medium corporate businesses. Unity Infotech is powered by a highly qualified team of professionals with extensive, specialised expertise and experience, which Unity Infotech considers as its biggest asset, giving the company the edge in providing all its customers with best-of-breed, cost-effective technology solutions. With a separate development arm in India apart from its own development, implementation and support team in the UAE, Unity Infotech has a strong pool of talent and technology resources that has enabled the company to satisfy the demands of 100 per cent of its clientele.
Wafa Reghif
F: +971 4 369 7635
Email: wafa@perspectivepr-me.com
© Press Release 2010
