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Differentiated
Software Solutions (Diffsoft) is a software and services provider
with a rather unique product. Diffeye is a Forex Risk Management
Software developed after two years of R&D. It aims to
help companies and banks reduce their foreign exchange risks.
Many corporates and banks manage critical forex with Excel
spreadsheets. These are not up to the task of handling multiple
forward cover, cancellations on booking contracts, multiple
bills arriving from part payments and payments crystallised
using the spot market. Many companies are at a risk of losing
millions of dollars in one go due to volatile market conditions.
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Krishnaraj
says Diffsoft is talking to leading consulting firms
for tie-ups to push Diffeye |
Krishnraj,
director marketing, Diffsoft says, “We believe that firms
have different attitudes, tolerances and appetites to manage
their foreign exchange risk. However, all firms need to understand
the foreign exchange risks they are exposed to and develop
treasury policies and processes to manage this risk.”
Diffeye allows users to manage day-to-day foreign exchange
exposures manage Exposures, setting benchmark on exposures,
record hedging actions (forward contracts, swap contracts
and currency options). It also provides alerts on stop loss
and take profit levels on exposures and contracts. The software
lets you measure treasury performance CEOs and CIOs are provided
with feedback on profits or losses made by the treasury on
account of forex rate fluctuations. Diffeye also provides
compact MIS reports, which can be used to identify components
that have performed exceptionally or poorly.
The software is targeted at any corporate that has imports
or exports worth Rs 50 to 100 crore. “There is no other
vendor addressing this market. Reuters Fox/E is the only competition.
And their product is priced three times higher than Diffeye,”
claims Krishnaraj.
The base price of Diffeye starts from Rs 3-8 lakh for a single
license, depending upon requirements. In addition, the company
will charge Rs 50,000 to Rs 75,000 for providing training
on integrating Diffeye with the user’s existing applications
such as ERP and SCM.
“We
are aiming to sell 25 to 30 copies of Diffeye from April to
September 2002. Every additional licence will cost Rs 25,000
extra. Our strategy will be to work closely with corporates,
banks, forex advisors and PSUs. We are also talking to two
top consultancy firms in India for a possible tie-up,”
adds Krishnaraj.
Diffsoft has sold Diffeye bundled with a Baan implementation
in Singapore. There could also be an alliance with Baan and
SAP. The company has also tied-up with Delhi-based Technova,
which will market its products outside India.
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