Wealth Management System Limited, the creator of Bonanza, was founded in 1995 by Mr. Somkiat Chinthammit (CEO) and his friend from Assumption school. Their goal was to develop cutting-edge financial software, which is later called BONANZA, since the profound knowledge from 6 years of experience at Citibank has granted Mr. Somkiat a crystal clear view of what exceptional financial software is. As a result, BONANZA has now enjoyed a 40% share of the asset management software market accounting for 600 Million Baht. The market is expected to grow to 2000 Million Baht in a few years due to the rising demand from asset management institutions.
Not only does WMSL develop BONANZA, but it also provides a risk management consulting service. Faced with tough competitors from international firms, WMSL managed to win 22 out of 26 auction projects. Such a huge success came from its in-depth knowledge provided to customers.
Wealth now has 30 customers from software services and 20 from consulting services. Some customers even use both services for total solutions. WMSL’s average revenue growth is 22%, and 70% of the revenue comes from BONANZA.
Thailand Business Week - June 2008 Page 69
Column: New Blood of Thailand Software House by Eakwasa Suksong