UTI Mutual Fund is managed by UTI Asset Management Company Private Limited, which was appointed by the UTI Trustee Company Private Limited. They have gone public, hence the company name has changed to UTI AMC Limited.
UTI AMC purchased Contentverse in December 2005 primarily for the UTI AMC board, which was for record keeping of board meetings taking place in their company. These documents (agenda, memorandums & subsequent minutes) were sacrosanct for them, as were all the major and minor decisions discussed through their Board of Directors. There was an application already in place which had its own drawbacks:
- Lack of user friendliness
- No support on the product (technical as well as after sales support)
- Folder hierarchy restriction
- Limited search options, which made retrieval cumbersome
- Proprietary database structure made it difficult to integrate with third party software
Security was their main concern as the documents were highly confidential, so much so that their IT Department had no access. The security aspect of Contentverse (128 bit encryption, providing rights across cabinets and folders) proved an ideal solution to this and quickly eliminated other competition. After successful demos and presentations, Contentverse was selected and UTI AMC implemented our software in the UTI AMC board department, replacing the application already in place.
Documents from the UTI AMC board were related to their meetings including agendas, memos, memorandums, proceeds and minutes. Based on the success in this department, Contentverse was also implemented in the HRD Department, mainly due to the recommendations of the board. Here the requirement was to store circulars and service sheets (even A3 sheets dating back to the 1960s), which had to be stored and underwent considerable wear and tear. Additionally, digitizing documents of AMC Accounts (housing loans) into Contentverse is currently in progress.