Silverlake Axis Strengths, Domain Expertise, and Key Differentiators
Silverlake Axis offers software solutions and services to organizations in banking and financial services, payments, retail, and logistics businesses.
Silverlake Axis Integrated Banking Solution enables banking transformation through information, operations, and technology innovations at the front office, middle office, and back-office operations.
Merimen, a wholly-owned subsidiary of the Company, has grown its ASEAN presence in line with the increased adoption of its Software-as-a-Service (SaaS) solutions for both claim management and policy administration.
Silverlake Axis offers digital economy propositions and enterprise solutions to its customers engaged in multiple ecosystems including Banking, Insurance, Government, Retail, Payment and Logistics. Over 40% of the top 20 largest banks in South East Asia run on Silverlake Axis’ Core Banking solutions.
Silverlake Axis perform Maintenance Services for the Silverlake Axis software solutions that we have implemented for customers.
For customers requiring third-party hardware and system software to run the Silverlake Axis Integrated Banking Solution (SIBS) in their core banking implementations, Silverlake Axis includes the sale of Software and Hardware Products as a bundled offering with software licensing and project implementation services.
Silverlake Axis Recent Developments
Merimen developed the TrueSight Interactive Video (TIV) solution in partnership with Cyber Village, which was launched in June 2019. The TIV solution has been adopted by the insurance claim ecosystems in multiple markets, namely Malaysia, Vietnam, Thailand, and Singapore. The underlying technology for TIV is the WebRTC protocol, featuring real-time, high-quality peer-to-peer communication using default browsers. This eliminates the need to download and install plugins or native applications.
In FY2020, Silverlake Axis launched the QR Agora Cloud to facilitate our PROFIT Retail Solution to meet Food and Beverage (F&B) industry requirements. Additionally, the Silverlake Axis e-commerce shopping portal aims to support online businesses by providing a responsive user-friendly front-end solution for a seamless shopping experience, coupled with a robust back-end solution to handle various e-commerce processing needs.
In June 2019, Silverlake Axis established a new wholly-owned subsidiary, Silvirture Limited. The principal activity of SVL is an investment holding company for the Group’s business expansion.
Earlier, In November 2018, Silverlake established another subsidiary, QR Retail Automation Vietnam Company Limited. The principal activities of QRV are to develop new business opportunities in the local market and to provide application management services and software maintenance support services to local customers.
In May 2017, Merimen launched its newest offering, TrueSight Analytics (“TrueSight”), to complement its solutions and ecosystem.
Merimen’s TrueSight encompasses a suite of analytic solutions to help insurers meet their growing analytics need and support their business success by providing the right data for making timely decisions.
Silverlake Axis Mergers and Acquisitions (M&A) Activities
In November 2018, Silverlake Axis acquired an 80% stake in XInfotech Group, a global provider of software solutions for the issuance and verification of digital identity documents and smart cards. The remaining 20% stake ware done when the acquisition was completed in January 2019.
Silverlake Axis Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Silverlake Axis applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Silverlake Axis and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Merimen Insurance Solution, AgoraCloud, Silverlake Axis Flagship, TransactzNow customers.
Silverlake Axis Overview
Ownership: - SGX : 5CP
Number of Employees: 2145
Functional Markets: Analytics and BI, Collaboration, Content Management, ERP Services and Operations Management, SCM, TRM,
Key Verticals: Automotive, Banking and Financial Services, Distribution, Federal Government, State and Local Government, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Retail, Transportation,
Silverlake Axis Key Enterprise and Cloud Applications
Merimen Insurance Solution, AgoraCloud, Silverlake Axis Flagship, TransactzNow
Silverlake Axis Revenues, $M:
| Type/Year | 2020 | 2021 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Silverlake Axis Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Silverlake Axis Enterprise Applications Revenues By Functional Markets, $M:
Silverlake Axis Enterprise Applications Revenues By Verticals, $M:
Silverlake Axis Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Silverlake Axis Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Silverlake Axis Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Silverlake Axis Customers
No. of Silverlake Axis Customers: 370
No. of Silverlake Axis Enterprise Applications Customers: 370
No. of Silverlake Axis Cloud Customers: x
No. of Silverlake Axis Cloud Subscribers: x
Silverlake Axis provides software solutions and services to the Banking, Insurance, Retail, Government, Payment and Logistics industries. We have over 380 enterprise customers and a market presence that spans 80 countries across the Asia Pacific, Middle East, Europe, Africa and Americas.
Among its customers are: United Bank Limited, SacomBank, Viet Capital Joint Stock Commercial Bank, Bank Muamalat, OCBC Bank, CIMB Group, Bank Islam Brunei Darussalam, PT Asuransi Harta, Motor Claims Management, AEON Malaysia and others.
Silverlake Axis offers innovative Digital Economy Propositions and Enterprise Solutions to its customers in Banking, Insurance, Retail, Payment and E-Commerce Ecosystems.
Over 40% of the top 20 largest banks in South-East Asia run Silverlake Axis’ Core Banking solution.
Silverlake Axis is the core system platform partner of choice for 3 of the 5 largest ASEAN super-regional financial institutions.
The Group’s solutions are delivering operational excellence and enabling business transformations at over 380 organisations.
Silverlake Axis has anchor customers in ASEAN, Australia, China, Japan, the Middle East, New Zealand and South Asia.
With its recent acquisition of Finzsoft Solutions, Silverlake Axis has expanded its digital economy offerings and geographic reach into the Australian and New Zealand markets.
In Merimen’s established markets of Malaysia, Indonesia and Singapore where they have more than 115 insurance companies using Merimen’s products, 19 out of 115 insurance companies have signed up new and additional Merimen SaaS products.
The acquisition of SunGard Ambit added more than 50 new customers.
Silverlake Axis Market Opportunities, M&A and Geo Expansions
In FY2020, the Group received financial assistance from the governments amounting to USD 703.901 in light of COVID-19 pandemic.
In August 2020, Merimen expanded its presence to East Asia and the Middle East. Merimen has established its offices in Tokyo, Japan as well as in Dubai, United Arab Emirates ("UAE) by incorporating the wholly-owned subsidiaries, Merimen Technologies Japan K.K. (“Merimen Japan”) and Merimen Technologies - FZE ("Merimen UAE").
In March 2020, Silverlake Axis unveiled that Merimen, a wholly-owned subsidiary of the Company, has expanded its insurance processing business in Vietnam and Thailand, and signed-up customers in Malaysia and Singapore for its analytics product suite and interactive video technologies (“Merimen TrueSight”).
Merimen secured new accounts with 2 of the top insurers in Vietnam. One of the insurers has launched its new ePolicy Marine Cargo product on Merimen’s platform, while both insurers chose Merimen for their eClaims Motor product and are in the process of implementation. This brings the Vietnam customer count to a total of 5.
During 2017 Cyber Village, the Silverlake Axis subsidiary has delivered digital capabilities to two insurance customers in Malaysia to enable them to market their products and services more effectively. Recently, Cyber Village was appointed by an insurance trade association to develop and deliver an innovative digital collaboration platform for life and takaful insurers in Malaysia.
Initially, the industry-wide platform will serve as an information gateway to consumers and this will be followed by a full-service life insurance and takaful aggregator portal for consumers to compare products and make purchases online.
Silverlake Axis Risks and Challenges
In early 2020, the Group as a market participant began to experience the effects of the COVID-19 pandemic and the economic slowdown as a result of the movement restrictions and the pressure that this placed on many industries. The Group’s key customers in Banking were deemed essential services and remained open throughout whilst the retail industry was badly affected by closures and by a large negative impact on demand. These events led to a challenging second half of the financial year and the momentum slowed significantly.
In FY2020, the Group recorded a 44% reduction in revenue from the banking and retail segment. The difficulty in closing large core banking deals amidst the pandemic and slowing economic conditions contributed to this decline.
With no large new projects in FY2019 or FY2020 (project revenue recognition usually spreads across more than one financial year), software project services revenue decreased 28%. With the business sentiment in the second half of FY2020, it was difficult to close large deals and the Group’s customers have taken a cautious stance to the conditions which have been evolving over the last six months.
Integrating recent acquisitions into its fold will be Silverlake Axis’ next challenge as it aims to become a consolidator in the fragmented ERP market for Asia Pacific companies.
Its migration to the Cloud remains a work in progress.
Silverlake Axis Ecosystem, Partners, Resellers and SI
Linx publicly traded on B3 since 2013, also became the first Brazilian software company publicly traded on the NYSE in 2019. The company have over 3500 employees spread among its headquarters in São Paulo, 16 branches by Brazil and 5 countries in America.
Linx is continuously seeking and entering into strategic partnerships that enable customers to advertise their portfolios and expand their sales channels. For example, over the course of 2019 and 2020, Linx entered into strategic partnerships with marketplaces such as Ebazar.com.br Ltda., which operates under the trade name Mercado Livre (April 1, 2020), Rappi Brasil Intermediação de Negócios Ltda. (January 13, 2020). In addition, entered into strategic partnerships with e-wallets, including PicPay Serviços S.A. (January 10, 2020).
Silverlake Axis Cloud Infrastructure Insights
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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