Electronic Data Systems Corp has a signed a distribution agreement to target UK banking and insurance markets with local component reseller and distributor ComponentSource. ComponentSource will resell EDS’s financial business components package, an object library of reusable business processes routines such as amortization payment calculation, annuities, and interest rate adjustments.
Bill Wilkerson, EDS financial services division’s chief technology officer said the business components are as relevant to small companies which use simple but repetitive financial calculations in their business as for multinationals using a range of complex mathematics in their business processes. The use of business objects increases system quality and integrity, and reduces development costs, he said.
Both companies expect to derive significant revenue from their agreement, which will see Component Source selling individual components starting at $500 each, and rising to $4,000 for a complete suite. Adrian Robinson, managing director of ComponentSource, says that the company is growing at 15%-20% per month and that last month’s revenue was over $405,000.
