Friday, February 23, 2024

NUMA SOLUTION: Analytics Solutions Beyond Boundaries

Financial analytics solutions provider and IBM Gold Business Partner – Numa
Solution (Numa) – helps companies across various industries enhance their
financial analysis and planning, hence make informed business decisions. In 2022,
Numa is ready to take its solutions to the next level and penetrate new markets.
Its Director, Azhim Hadi Daud, reveals his strategies to make this vision a reality.

Numa’s solutions range from financial planning and budgeting, activity-based costing and financial consolidation, to hydrocarbon fiscal analytics and data management. The key to our success lies in our capabilities in analytics and risk management which has enabled us to develop niche products that meet the evolving demand of our clients and the market.

One of our biggest achievements was developing a software that help financial institutions project their expected credit loss (ECL) in line with the International Financial Reporting Standards 9 (IFRS9) requirements. The system automates end-to-end ECL computations, enabling credit providers to derive more accurate estimates while saving time and resources.

In addition, we received the Beacon Award at the 2018 IBM Global Conference for a risk management application we developed for a Malaysian bank. This recognition proved that our solutions are of world-class standard, further fuelling our plans to expand globally.

Eyeing Growth

According to market research and consulting firm MarketsandMarkets, the global financial analytics market is projected to reach US$11.4 billion by 2025.

The post-pandemic landscape will present new opportunities for NUMA as more companies are seeking to invest in cutting-edge analytical solutions to optimise their day-to-day processes. Therefore, expansion to new markets and product innovation will be our focus in 2022.

We recently signed a Memorandum of Agreement (MoU) with Gulf Business Machines (GBM) for the distribution of our software in five countries in the Gulf Region – the UAE, Qatar, Oman, Bahrain and Kuwait.

This will kick-start our entry into the Middle East. Beyond that, we have our eyes set on the ASEAN region, Australia, Japan, India and Europe, and creating strategic partnerships with players there to facilitate our expansion to these markets.

In terms of product innovation, we are looking into the development of new solutions for companies in the financial and nonfinancial sectors where the demand for financial analytics is on the rise. This involves benchmarking our products with those in the market, understanding customer requirements and tailoring solutions to their needs.

Furthermore, Numa aims to strengthen our relationship with existing clients to fuel revenue growth in the future. We will achieve this through continuous product improvements. For instance, introducing new features to our products to build trust and entice customers to seek out our after-sales services and other products.

Numa remains committed to human capital development. The driving force behind the company is our people and therefore, expanding our manpower and honing the capabilities of our existing talent will be key moving forward.”

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