Send Word Now’s SWN Alert Service provides two-way on-demand alerting and response to ensure swift, efficient communication and coordination when time is of the essence. SWN Alert Service is designed to reach anyone, anywhere, anytime, with any device over any type of connection, including wired and wireless phones, email, pagers, SMS, MMS, VoIP, Skype, instant messaging, satellite phones, Blackberries and PDAs, including Treo, Palm, and PDAs running Windows Mobile.

DataArt partnered with Send Word Now to deliver a scalable and reliable service code which allows to send alert messages to Blackberry devices using PIN protocol, and to develop Blackberry client application for advanced alerting functionality. In addition, DataArt is working on the enhancement of existing applications to bring them to the next level in usability and functionality as well as to implement alert delivery through Instant Messaging (ICQ/AIM/MSN/Jabber/GTalk) and e-mail.

“In DataArt we found a firm that shows tech smarts and a good approach to creative problem solving, as well as some experience with world class companies as customers,” said Jeremy Sterns, Chief Technology Officer of Send Word Now. “Data Art showed a very good analysis of the project, and had a reasonable plan to deliver. DataArt has consistently offered good technologists with good analytical skills who are motivated and raise the right questions at the right time.”

“We’re excited to be awarded the development of this front-line technology by Send Word Now,” said Eugene Goland, President of DataArt. “DataArt brings to the table deep expertise in mobile applications, and we look forward to delivering on toughest client expectations.”

“DataArt Labs framework allows students to combine core education with practice. They receive a unique opportunity to participate in all stages of a project, from market research, to software development, to client communication, without interrupting their university studies,” said Mikhail Zavileysky, DataArt COO.

DataArt has been supporting academic initiatives in different universities for many years, one of which is the now well-known joint Econo-Physics program with St. Petersburg State University. The opening of the Kharkiv office in 2007, coupled with the dynamic company growth and a recent investment made the initiative a reality. Dean of the School of Mathematics and Mechanical Engineering of Kharkiv National University, Grigory Zholtkevich, and Dean of Faculty of Computer Engineering and Control of KHNURE, Vladimir Hahanov, head the project at their respective universities.

“Our key goal is to introduce innovative technologies and to implement the latest IT market trends in the university programs, so that we can rip the benefits of the best IT talent working for DataArt,” said Alexander Nikitenko, head of DataArt Kharkov office.

Over 500 guests gathered at the club on the first weekend in July, including representatives from leading global companies, such as Boyden, KPMG, International Paper, Trinity, URSA and Coca-Cola, as well as regional government and diplomatic missions.

DataArt executives are among the selected group of AmCham members traditionally invited to this annual event. The company has been an active member of the Chamber for several years, and continues to partner with the St. Petersburg chapter on various projects and initiatives. As always, DataArt contributed branded gifts for the events’ attendees.

Continental cuisine was catered by several five start hotels, including Grand Hotel Europe and Hotel Astoria, providing the guests with a real taste of America in St. Petersburg. Sports competitions and kid’s activities completed the celebrations, topped by a spectacular cake ceremony.

The industry's leading event focused on how the financial industry is using technology to drive productivity, comply with regulatory requirements, and adapt to converging markets, products and investors. DataArt presented its recent successes in capital markets technology, shared its best practices and methodologies for creating bespoke software solutions in the space and established new strategic partnerships.

Over 300 vendors and 7,000 attendees attended this year’s event.

Having secured a round of funding from a private equity group, DataArt updated analysts on its plans for strengthening the company’s market position as a high-end provider of custom software solutions for capital markets industry and expanding its U.S. and UK sales force. The minority stake investment will also be used to launch several new service areas, including online travel, mobile applications and renewable energy.

DataArt aims to solidify its standing as a “Best buy” for firms who seek providers based on the business outcomes as the primary success criteria. Analyst feedback confirmed that as a global consultant for mission critical and knowledge intensive systems, DataArt is well positioned to take advantage of a larger industry shift away from a traditional offshore IT staff augmentation model to application outsourcing and R&D driven by global resources.

The deal was lead by London-based Tower Gate Capital, known for its investments into high growth technology-centric businesses. CEO Michael C. Wright went on the due diligence trip to St. Petersburg and Voronezh R&D centers and was impressed with the established operation. "It was a definite investment opportunity that clearly fell within our investment banks' objectives and focus. The management team is exceedingly strong, with the business servicing an impressive client list notably in the financial and travel sector," Wright said. "We were happy to close off the investment round, and look forward to working with the management going forward."

TGC was joined by one of the top Russian hedge funds and by New York-based Third Millennium Russia Fund. John Connor, the fund’s manager and the author of the book, “OUT OF THE RED: Investment and Capitalism in Russia” was also an investor in Mail.ru, the largest Web portal in Eastern Europe with 50+ million users, originally developed by DataArt. "Third Millennium Russia Fund assesses DataArt to be a very promising play, giving it exposure to the Russian IT sector, which is dynamic and growing," Connor said. "Finding investments in the IT sector in Russia is not that easy, but Russians tend to do very high-end programming work, and DataArt has great access to intellectual talent."

“Raising money took away many of the barriers a company like this has for expansion," said Eugene Goland, President of DataArt. "There has been a limit to how fast we can grow, and we are going to scale up and invest in the brand reputation while expanding into other areas, including media and publishing, telecommunications services and online travel."

DataArt has been experiencing strong demand for its services, which include developing bespoke software applications for customers in knowledge-intensive industries, specifically in financial services including asset management and hedge fund administration. Among DataArt's clients are Standard & Poor's, BNP Paribas, HedgeSpeed Technology and Misys.

The third annual Global Outsourcing 100 list ranked several hundred companies from 19 countries which were judged based on their size and growth rate, achievement, skills and training of employees, certifications, management capabilities, and customer references. IAOP noted a tremendous growth in participants in this year program and the keen competition among an increased field of outsourcing service providers.

DataArt continuous inclusion into the Global Outsourcing Rising Star category speaks of the company’s excellent track record of providing its clients with expert IT services which range from complex systems for capital markets, to online travel booking engines to mobile telecom solutions. To better service its clients’ needs, DataArt has opened three new R&D locations in the last two years and introduced several advanced training programs, including those in quantitative engineering and financial technology.

“DataArt is in its second decade of business, and we’re proud to be noted by IAOP every year since the launch of its Global Sourcing 100 list,” said Eugene Goland, President of DataArt. “2007-2008 was a tremendous year of growth for us, both in terms of business and geographical expansion. We plan to announce more good news in the near future.” The full IAOP Global Sourcing 100 list is available at http://www.outsourcingprofessional.com/content/23/152/1197/

The distinguished panel, moderated by Phil Albinus of Waters magazine, focused on due diligence as a key factor in outsourcing, and came to an interesting conclusion: many capital markets firms don’t perform proper due diligence before engaging a technology vendor.

Vladimir Dubinin, head of High Frequency Trading at Deutsche Bank, noted that each firm first has to determine the kind of due diligence it wants to perform (technical, legal, human factor), and then pursue each depending on the degree of importance. He also mentioned that in choosing a vendor, two key factors play a crucial role: years in business, and the list of existing clients.

Dean Miller, Deputy Chairman at Orbian noted that IP risk is but one of the risk considerations that must be evaluated by financial institutions. He observed that in his experience it was secondary to the risk of fraud which is compounded with the involvement of third party consulting relationships.

Ravi Manchi, Principal at Westwater corporation, stated that due diligence is equally important for onsite engagements performed by internal or external resources and offshore outsourcing engagements: the same due diligence should be performed, and if the sufficient trust level is established, the relationship can be initiated.

Other subjects of discussion included questions of what constitutes truly proprietary information in today’s financial institution, multi-sourcing as a means to preserve competitive edge, and measuring access to information by in-house staff, local consultants and offshore outsourcers.

Eric Karpman, Vice President at BoNY Mellon Asset Management, suggested a two-tier approach: keeping strategically important business data in house and outsourcing technology components to an IT vendor.

The event was followed by a wine reception. The next panel is scheduled for November 2008.

Referencing its recent report, Aberdeen writes that from the end user’s perspective, the key benefits to outsourcing R&D functions lie in the opportunity to minimize time-to-market, reduce cost of development, enhance ability to focus on core R&D and access new professional resources. “DataArt’s solutions are designed to meet the needs of companies seeking R&D outsourcing services as its delivery infrastructure provides cost, time-zone and time-to-implement advantages,“ says the alert. “While in most companies domain experts are highly present in customer-facing positions, developers work primarily remotely. At DataArt the developers are the domain experts themselves, they bring detailed knowledge of platforms and expertise in tools, and are involved in all aspects of project scoping, customer facing and delivering allowing end-to-end development, and delivery capabilities.”

Aberdeen believes that “as a company with a high degree of expertise and specialization across several key verticals, DataArt gives extra benefits to end-users by the fact that both domain and functional knowledge are characteristics of its delivery staffers, precluding the delay of knowledge transfer that affects other firms.” Citing the company’s numerous industry awards, Aberdeen writes that “DataArt is being recognized for solid project execution, significant growth and the unique skill sets its staff brings to all parts of project development and delivery.”

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The Global Services 100, now in its fourth year, ranks vendors on effective operations, service offerings, client relationships and human capital, and takes into consideration the company’s size (revenue, employee strength, geographies covered), customers (customer base, testimonials and references, average contract size), skills (depth and breadth of offerings, delivery capability, quality initiatives, verticals covered) and other parameters (attrition, training). DataArt is named among top ten European service providers.

“We’ve been consistently ranked as one of the top IT providers,” said Michael Zaitsev, CEO of DataArt. “I’m proud of our team for delivering consistently high results, and grateful that we’re recognized by the industry for our efforts.” In 2007, DataArt was named among the top ten Emerging Global and Emerging European Service Providers.

“The Global Services 100 list has grown to be a highly credible listing of global IT services, as it helps service buyers leapfrog the request-for-information stage,” said Ed Nair, Editor of Global Services.

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