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Washington Softwares Ltd.

BSE: 531933 Sector: IT
NSE: N.A. ISIN Code: INE163B01016
BSE 05:30 | 01 Jan Washington Softwares Ltd
NSE 05:30 | 01 Jan Washington Softwares Ltd

Washington Softwares Ltd. (WASHINGTONSOFT) - Chairman Speech

Company chairman speech

WASHINGTON SOFTWARES LIMITED ANNUAL REPORT 2000-2001 CHAIRMAN'S REPORT Dear Shareholders, Fiscal year 2001 witnessed many upheavals in software industry. Dot-com companies causing a ripple effect in other related field felt the major brunt. The technology stock meltdown has focused attention on the viability of many listed dot-com companies. But in the panic, one key question has been largely overlooked: what is it that made some software Companies successful? The global market for the process industry is estimated to be about US$200 billion in size. Parametric Technology Corporation, one of the largest software companies has entered into Enterprise Software Partnership with WSL. Due to its innovative and knowledge based products, WSL has grown substantially and is now aiming at global markets. In a short span of actual operations, your company has recorded a sale of Rs.19.67 crores. WSL is promoted by technocrats experienced in business and industries, with the support of a qualified team of engineers. The software 'Process Audit' developed by the company enables the process industry to predict, analyze, monitor, control and guide the manufacturing processes. It is bi-directional for not only controlling the machines but also gathers the data from the machines. WSL has the ability and expertise to provide design solutions for any product range as per the desired specifications. With this facility, the user industry can not only downsize design departments but also eliminate drafting departments. We have focused oil very specialized field i.e. Mechanical designs and machine-machine interface for the mechanical and Process Industry. We customize the design software as per the specific requirements of the industry. The management of a company are seldom aware of the parameters required at the plant. Despite the advancements in technologies managements seldom tend to use them for modernizing design departments and accurate control on Process Parameters with real time measurement. For instance when we visited the Design department of a leading company in India, they were keen on having design software, but unfortunately, the design department is the last to receive allocation of funds from management unlike an ERP package. Due to this tendency and reasoning, the others did not develop this area because fundamental knowledge base and ideas are needed here. Our software is an advancement over the conventional design system instrumentation in automatic process plants and man to machine interface. As far as the process industry is concerned, it has a good future provided the quality parameters are ideal without incurring losses in the process and compromising the capacity utilisation. Some companies can achieve the ideal products after many trials and errors but their capacity utilisation comes down drastically. If a Company whether it is an engineering or a chemical company, cannot achieve the maximum productivity with the highest accuracy at the lowest cost, the survival of the company and its competitiveness would be at stake and it would have to exit from the market. This is the threat posed before not only the Indian industry but also the global industry. Software is intended to improve their technological performance and ability and instead of spending their valuable time to apply conventional methods, they could spend their brainpower in things that are more creative for advancement and on R&D. In the software fields, WSL has brought new revolution. Laboratory analysis done physically today should tomorrow be done automatically with software through instrumentation. Eventually, the software analyses, controls, decides and gives the solution. Even if there are 4 plants at different locations, one process manager siting at one place through the internet can control all the plants and processes. We keep abreast with developments in the software and the tools developed worldwide are incorporated in our software. In the conventional software, 'scada' was the major advancement in the process industry. It is a control software, which is user-depend software. There is instrumentation and through 'scada', one can regulate the operating conditions like temperature or pressures or speeds from one place and such decisions have to be taken by the professionals, where the decision hardly consists of real time measurement. In our customizable software, 'Process Audit' process knowledge base is created in the software in such a way that the software can predict, suggest changes in Process Parameters and control the process directly and can generate several analytical reports online. This is the drastic difference between conventional software 'Process Audit' (man-machine interface) and our software (machine-machine interface). Regarding competition, this sort of threat comes in every field. The intellectual property rights protect these products. The gestation period is about 3 years. It may be advisable that the competitors develop their own products and form alliance with others to do the business together. Financially we are as we are a public limited and listed company. WSL's software system is user-friendly because most technical people do not have much affinity with computers. With the idea of converting rigorous scientific knowledge of design into software for easier application, which provides solutions unlike the conventional software. Life CAD which in fact is drafting Package. Test market survey revealed that people are waiting for such things to happen. We have then decided to incorporate all the knowledge base required for the design, controlling the entire process so that not only process industries can use their but also mechanical engineering industries. We began with mechanical design software. We had identified about 73 packages covering the entire gamut of mechanical engineering industry from power plant, boiler, process equipment, bulk material handling system, machine design and automobile parts, etc. Our package gives design parameters and automatic drafting instantly. It takes just 5 minutes to develop a design even for complex parts. The advantages are accurate design in a minimum time frame resulting in saving on the overhead costs besides quality improvement of the product. This led us to go in for marketing engineering based software. With the design engineezing taken care of, we concentrated on the process industry. 'Sci-Tech' is a complete mechanical design-engineering suite. We have incorporated Sci-Tech Systems, USA from December 1999. The solution has brought revolutionary changes over the conventional design processes. It is a comprehensive suite of 73 software solutions. It allows the user to design the most complex mAchines and machine parts literally within a few minutes, which otherwise takes days or even months. 'RCC Kit' is a complete solution for RCC design. It is the only civil engineering software in the world to provide wind and earthquake stress analysis of building bridges among its many other useful features. 'Watermantech' is a complete water and sewage management technology for municipal corporations. We are taking up with the World Bank and financial institutions for financial arrangements to install software at the civil bodies depending upon their financial conditions. It entails huge software for water management. 'Engineering desktop' is a unique drafting package with all the necessary engineering facilities. 'My business' is a ERP solution for small and medium business houses and 'My home' is a complete family management software for home affairs. Thanks. SANJAY SONAWANI