Ontario – Toronto GTA – Markham
Corporation
www.baylaan.com/skedule_x.html
Ontario
Toronto GTA
Markham
Corporation
active
Baylaan Technologies, a pioneer in building integrated systems, uses the most advanced technology to deliver easy-to-use information management systems for governments and businesses.
Baylaan Technologies is a leading provider of software solutions to organizations seeking a competitive edge. Our approach delivers the most comprehensive suite of products and services
Country of Ownership: Canada
Year Established: 2008
Exporting: Yes
Primary Industry (NAICS): 541510 - Computer Systems Design and Related Services
Primary Business Activity: Manufacturer / Processor / Producer
Total Sales ($CDN): $500,000 to $999,999
Export Sales ($CDN): $1 to $99,999
Number of Employees: 4
Products:
Skedulex, Chqprint
Sector:
Key / Major Clients: Bank of Nova Scotia
Centennial College
Guyana High Commission to Canada
Consulate General of Guyana
Guyana Bank for Trade - Industry
Sheik Hassan Group of Companies
Success Stories: Banking Industry
The banking industry in Guyana consists of 8 financial institutions. In recent years, the industry has undergone several waves of modernization offering a variety of new services to its clients: debit and credit card options, ATM, internet and telephone banking, bill payment, etc. In 2006, the Bank of Guyana adopted the Canadian Payment Association`s Standard for cheques and other financial instruments.
Challenge
Cheques and other MICR encoded financial instruments used by the banking system were printed in Barbados, Trinidad and North America. This service met with a number of critical challenges.
•The transmission of information to the printing companies was done by fax or email and then re-keyed into a printing software, quite often, resulting in errors.
•The transmission of information and printed cheques proved to be quite costly.
•The delivery times for cheques were 2-8 weeks, depending on quantity and country of origin.
•Companies mitigated some of the above challenges by ordering several months` supply requiring upfront investment, storage and security.
Baylaan Solution
Baylaan developed an online CHQprint solution to manage the cheque printing task for the banks. Baylaan also engaged and trained a local printer to print financial instruments.
The Baylaan Solution achieved the following: 1.Improved accuracy: CHQprint eliminates most of the errors commonly made under the previous approach
2.Reduced costs: CHQprint single entry solution reduced the amount of time spent on order entry; reduces transportation and order costs.
3.Improved Efficiency: Cheque ordering is now a three step process which can now be done by the customer. Customers receive their cheques in less than one week.
4.Improve quality of service: CHQprint standardizes all the printed financial instruments to the CPA 006 standard.
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