In any business the ability to streamline operations can often be the difference between success and failure. In the interactive gaming industry it can mean the difference between a booming site with loads and loads of players and a marginal one that struggles to stay afloat.
Thanks to a Malaysia-based software firm e-business operators from various industries have the ability to plug in as many extra features to their sites as they want. SmartTransact Sdn. Bhd., offers a wide array of services to Web site operators and has managed to leverage itself nicely in the Interactive gaming sector.
The Company
Established in April 1999, SmartTransact is a one-stop shop for e-commerce solutions. The group provides a complete set of software, infrastructure and services that enable clients/partners to run effective e-commerce operations.
SmartTransact was set up in Malaysia to take advantage of the country's labor requirements and the promises of the Multimedia Super Corridor (MSC) initiative by the Malaysian government.
In November 1999, the company obtained the coveted MSC status from the government. The status offers numerous benefits that include a tax-free haven and freedom from censorship on the Internet.
Since its inception, SmartTransact has become one of the fastest growing IT companies in Malaysia. With start-up capital of just 100,000 MYR (US$26,331) and a staff of five, the company expanded its worth to RM50 million as of early this year.
The brainchild of CEO Dr. Gunananthan, Smart Transact can proudly boast being one of those rare dot com companies to have raked in profits during its first year of operations.
For the financial year ended March 31, the projected turnover/transactions is M400 million with projected revenue at 4.5 million MYR (US$1.18 million) and projected profit at 1.5 million MYR (US$395,000).
The Products
SmartTransact offers a bevy of management tools designed to help Internet operators streamline their businesses.
The company's cornerstone product is its merchant manager module, which is actually part of a larger system, the SmartTransact Express.
The system's modular design enables Web site operators to choose administration tools based on how much power is required to manage the site. Features include:
- Site Manager helps set up the main page and customize it according to the operator's look and feel.
- Content Manager assists in the management of content on the site. It can insert, maintain and update all content in the form of text and graphics for the site. Content scheduling is also available.
- Forum Manager allows for the creation and management of as many forum discussions, voting, rating and opinion polls the site needs.
- Client Manager enables users to register to the site. Operators can then monitor and analyze their activities and transactions on the site. Using this information, operators can create more targeted content and encourage repeat visits.
- Market Place Manager enables operators to manage and monitor storefront activities, multi-currency transactions and referral activities.
- Recruitment Manager lets operators match up with recruiters and job seekers, like Jobstreet.com or MyStar Jobs.
- Advertisement Manager helps manage, schedule, and monitor advertisements.
- Accounting Manager is a back-office tool with full-featured accounting solutions to view, edit and update transactions, generate operation reports, profit and loss statements.
- Merchant Manager enables operators to accept online payments through credit cards as well as help manage and analyze the site’s online financial transactions.
- Admin Manager is a back-office tool through which multiple back-office users with different permission levels can manage and operate the site.
SmartTransact Express is offered in three packages, the Starter, Business and the soon-to-be released Enterprise package, costing 100 MYR (US$26.33) 400 MYR (US$105.33), and 2,000 MYR (US$526.64) in set-up fees respectively. The monthly fees are 40 MYR, 200 MYR and 2,000 MYR respectively.
The packages differ in the administration tools offered. For the Starter package, operators can utilize modules 1-4, whereas users of the Business package have all the modules except module 10 at their disposal.
Having major e-business solutions at its fingertips has enabled SmartTransact to target nearly every corner of the e-commerce universe. The group has always worked hand-in-hand with interactive gaming operators. It has built software that works well within the gaming sector and caters to the needs of the industry.
The Future
Dr Gunanathan has made no bones about intentions of floating his company on the stock market. He said the company is focused on its vision of becoming a powerhouse for transactions by providing a one-stop center for e-commerce.
But before any IPO, he said, the company must increase its growth significantly.
To seal its expansion, SmartTransact has entered into various agreements in the area of VC funding, partnerships, client contracts, purchase of subsidiaries and joint ventures.
The phenomenal growth of the company has already attracted several investors, including MSC Venture Corporation, which took a stake of 3 million MYR (US$790,000) in the company. Other investors, who have taken stakes totaling 2 million MYR, are Banyan Ventures, Lotus Asset
Management, Omar Merican and several individual investors.
More importantly, the company has entered into partnerships with IT giants Microsoft and HP in areas of software, technical expertise, co-marketing of products and co-promotional activities.
SmartTransact was singled out as an exceptional company to come out of the MSC project during the recent International Advisory Panel (IAP) meeting. It had attracted interests from various multinational companies, especially Microsoft, who awarded it Best Application Service Provider in Asia and South Pacific Basin for the year 2001.
The MSC-status company set up just over a year ago has secured contracts expected to be in excess of US$1 billion over the next five years. And with clients in countries like Ireland, the United States and Hong Kong, the company has achieved international