Source: Sapphire Group
Betbrokers, (AIM: BETB), the world's first independent betting brokerage, has signed up Sapphire Group to support its business management processes from St. Petersburg.
Following the recent completion of the successful implementation of BrokerBet2 - a front office trading platform and middle and back office support structure - Betbrokers has selected Sapphire Group to provide continuing support and development using its proven onshore offshore methodology.
The trading platform includes a number of position-keeping facilities which will allow brokers to constantly monitor client accounts and is anticipated to support the Company's plans for internet and mobile services, scheduled to be available in early 2008.
Due to compliance regulations, Betbrokers, based in Canary Wharf, required an effective management information system to support both the retail and wholesale sports betting sectors with brokerage, settlement, risk management, clearing house services as well data and analysis tools.
Sapphire Group responded to the brief by developing a business management solution based on a business model used by the financial markets, as Betbrokers also provides wholesale clients, including bookmakers, betting exchanges and corporates with a risk management service to allow them to confidentially square their books - by placing certain bets to lay off their risk or hedge against bets already taken.
Carl Whitehead, IT Director, Betbrokers, said that Sapphire Group offered a complete business management solution to meet all the requirements of the growing brokerage. He claimed that the company's Russian developers are higher quality, more motivated and significantly more cost effective than onshore only providers. The nine month implementation was managed by Sapphire's project team in Romford, while development and support stems from St. Petersburg.
The initial development work, carried out by five key Russian developers led by UK Projects' Manager Chris Gadsby, had three phases involving the implementation of a sophisticated office and web based .NET/Oracle solution to enable the placing of bets, matching back and laying bett bets with price comparisons across bookmakers and betting exchanges.
While Betbrokers is delighted with the outcome, they mitigated the risk of using outsourced Russian development by demanding guarantees and checking credentials of developers.
"We were impressed by the quality, professionalism and speed of delivery from Sapphire Group's St. Petersburg operations and reassured by their combination of a UK team on our doorstep with highly cost-effective support from Russia."
"Costs have already been reduced and quality boosted through working with Sapphire Group and we look forward to both these trends continuing and accelerating under the new arrangements."
Next BetBrokers will be looking into Sapphire Group's Matchlogon with FingerPIN, an authentication management solution that uses the world's first sequential biometric fingerprinting technology.