PRAGUE, September 6, 2011 /PRNewswire/ -- Ness Technologies, Inc. (NASDAQ: NSTC, TASE: NSTC), a global provider of information technology solutions and services, announced today that it has signed a multi-million dollar contract with Raiffeisenbank in the Czech Republic for the delivery and implementation of an electronic document management system, based on EMC Documentum, which will be integrated in the bank's new information system. The project, which will take several months, will be implemented on the platform of several of the bank's EMC² services. "When finished, the system will be used routinely by more than 2,000 of our employees, including those who serve clients in our branches," said Jirí Švarc, Document Management System (DMS) Project Manager, Raiffeisenbank. "The new system will store client documents in digital form at a secure central depository. We will use it to process approximately 2 million new documents every year. The project is valued at several tens of millions of Czech crowns. An application for automatic document generation based on EMC² xPression technology will be the first to be implemented within this system." Among the project's main benefits is an automatic document generation system, using set parameters. It will generate a document, for example a contract, with clauses that exactly reflect the terms and conditions agreed between the client and the bank. This will significantly reduce the manual work involved in document preparation, leading to faster service for clients and standardized communication with clients. "The implementation team will comprise more than twenty of our top consultants specializing in DMS, with in-depth knowledge of EMC² products," said Mirko Kalous, Managing Director of Ness Czech. "The project implementation will use a wide range of EMC² products, starting from smart storage of encrypted digital documents and access management, through content generation systems, to solutions for viewing client documentation differentiated by which job the bank's employee is assigned to." When the project is completed, the system will store also details of the physical location of archived hard-copy documents, in addition to having a central content depository. The project's long-term goal is to encompass all document management functionality, including that currently provided by other applications.
Ness Technologies (Nasdaq:NSTC) hit a new 52-week high Tuesday as it is currently trading at $7.74, above its previous 52-week high of $7.73 with 1.2 million shares traded as of 2:30 p.m. ET. Average volume has been 418,100 shares over the past 30 days.
Ness Technologies (Nasdaq:NSTC) hit a new 52-week high Wednesday as it is currently trading at $7.72, above its previous 52-week high of $7.71 with 226,052 shares traded as of four p.m. ET. Average volume has been 828,000 shares over the past 30 days.
Ness Technologies (Nasdaq:NSTC) hit a new 52-week high Wednesday as it is currently trading at $7.64, above its previous 52-week high of $7.63 with 318,367 shares traded as of 11:37 a.m. ET. Average volume has been 626,800 shares over the past 30 days.
Shares of Ness Technologies (Nasdaq:NSTC) were gapping up Monday morning with an open price 13.8% higher than Friday's closing price. The stock closed at $6.68 yesterday and opened today's trading at $7.60.