2018 is a year of development for Atende
The year of the relatively good market conditions was used in the Atende Group to invest in the development of new products and services. The Atende Group's financial...
The year of the relatively good market conditions was used in the Atende Group to invest in the development of new products and services. The Atende Group's financial performance in 2018 was slightly weaker than in the previous year, but the enormous scale of development efforts made at that time by Atende and the Group companies should bring tangible financial benefits already in 2019.0.1 MB Download0.18 MB Download
In 2018, consolidated sales revenue amounted to PLN 275,606 thousand, which represents a decrease by 5% as compared with the previous year, primarily due to the lower sale to the telecommunication and media sectors (decline by 20% y/y) and to the public sector (decline by 3% y/y). However, this does not change the fact that these sectors remain key for the Group and account for a total of 71% of its revenue. In 2018, sales to customers of the industry, trade and services sector increased by 15% and to the financial sector by 10% compared to the previous year. Ultimately, the net result of the Group decreased by 16% y/y to PLN 10,672 thousand.
At the individual level, the sales revenue of Atende decreased by 11% as compared to 2017 and amounted to PLN 208,243 thousand. However, due to the significant financial gains in 2018, the net result is much better than in 2017 (an increase of 41% y/y to the level of PLN 10,679 thousand).
- in 2018 we put emphasis on the development of innovative products based on, inter alia, artificial intelligence, blockchain technology, the IoT solutions and big data, thereby creating a strong basis for increasing revenue in 2019 and subsequent years. 2018 was another year in which we recorded a growing significance of subsidiaries and their products and services in the Atende Group – says Roman Szwed, President of the Management Board in Atende S.A.
In 2018, subsidiaries generated EBITDA of PLN 13.1 million which accounted for more than half (54%) of EBITDA generated by the entire Atende Group. The largest contributors to this result were two companies: Atende Software and Sputnik Software. Both companies produced a net profit of PLN 3.4 million each. Atende Software, which is the leader in Poland in the field of online distribution of multimedia content, increased its revenue from these services by as much as 21%! Sputnik Software, which develops software and provides services for the public sector, mainly for the local government administration, generated 11% increase in sales revenue.
- Our biggest achievements in 2018 include an increase in sales of subscription services, giving a comfort of predictability of revenues, which was observed out both in Atende and in the Capital Group companies. In subsequent years, we intend to continue to increase the share of sales of subscription services in the total Group income, mainly based on proprietary products and software – says Roman Szwed.
In 2018, the total margin on sales of subscription services increased by 9% y/y and amounted to PLN 41.9 million, thus covering 47% of fixed costs of the entire Group. In 2018, the Group both increased its sales of services offered to date and expanded their portfolio. In the past year, the Atende Group extended a range of subscription services by proprietary solutions based on the blockchain technology, offered and implemented by Atende, and services using big data technology, developed by the company Energy Data Lab in collaboration with Kantar Polska S.A. The increase in subscription sales is an important element of the entire Group’s strategy for subsequent years.
In 2018, the company of the Atende Group has made a significant financial and organizational effort in the field of development works, which should be the basis for growth in subsequent years. The Group implemented five projects co-financed by the aid funds. In addition, the company from the Atende Group have developed a number of innovative products, ranging from systems based on artificial intelligence, blockchain and big data technologies, through technologies necessary to implement the 5G technology, to products such as air quality measurement stations, cards blocking unwanted readings of proximity cards or smart gas and electricity meters. Some of the products went through the commercialisation process in 2018, the effect of which in the form of increased revenues should already be apparent in 2019.
- We are planning to continue our current practice of developing new, innovative products and services intended for the Polish market, but also targeted to foreign markets. We are counting on the year 2019 to be a breakthrough year in entering with our innovative products on global markets – announces Roman Szwed.
The Cooperative Bank in Toruń (BS) is implementing blockchain in the customer service system
The Cooperative Bank in Toruń is implementing a unique digital customer service system based on block-chain technology. This is the first local bank in Poland,...
The Cooperative Bank in Toruń is implementing a unique digital customer service system based on block-chain technology. This is the first local bank in Poland, which decided to use blockchain technology. The project, carried out in cooperation with Atende, is part of the philosophy of making modern forms of cus-tomer service generally available.0.11 MB Download0.26 MB Download
The customer service digital system is one of the key projects of the new Development strategy of BS Toruń for 2018-2020. The solutions implemented entail a radical change in the customer service approach. Owing to innovative IT tools the use of paper documentation will be limited. Customers will be remotely provided with a wide range of ser-vices and will sign documents via SMS codes. The application of Atende ChainRepo will enable the digitalisation of documents with biometric signature and their archiving. Both the customer and the Bank will have access to electron-ic documentation at any time, without needing to search for printouts in cabinets and files, without unnecessary stamps and initials.
We are introducing automatic digitisation of documents using blockchain technology as one of the key elements of our Strategy. We are trying to eliminate all nuisances so that the use of our services is even simpler. The system meets the requirements of a durable medium, which will enable us to dispense with unnecessary and cost-intensive work, says Grzegorz Flanz, Vice-President of the Management Board of BS Toruń.
Atende ChainRepo allows for archiving and the search and indexing of electronic documents, both by the bank and by customers. The tool is integrated with the service of a durable Atende ChainDoc medium, automatically recording documents in the blockchain network – one of the safest forms of data retention. The documents recorded in Chain-Doc do not go beyond the customer's environment and there is a mechanism exercising the right to forget under the GDPR.
The currently created electronic repository of documents shall be a panel available to the customer also after a possi-ble termination of the agreement with the bank. All documents dedicated to the customer will be made available to him/her, including the implementation of the “right to forget” functionality – explains Łukasz Kotlarz, Leader for the digitisation of BS Toruń.
Chaindoc is built on a confirmed, open code of the blockchain engine, ensuring the transparency of the solution and providing certainty about the extent of its operation. It is at the same time closed and private blockchain based on defined participants and the trusted computer nodes located in Poland – such as Atende and Exea data center in Toruń. Thanks to these features, the Atende solution meets the requirements of the Office of Competition and Con-sumer Protection (UOKiK), enabling documents to be supplied to final customers in electronic form.
Blockchain is a technology of the future. The Cooperative Bank in Toruń is the first cooperative bank in Poland, which has implemented the blockchain-based solution and we believe that other banks will soon follow. We are proud that we can be part of this project – comments Jacek Szczepański, Vice-President of the Management Board of Atende S.A. – The project is perfectly integrated with the Atende strategy for 208-2019 concerning the development of sales of own innovative services.
First e-referral in Poland issued thanks to Atende Medica
On Wednesday, 12 December just before 6 pm, on the P1 platform, there was a historic, first in Po-land, e-referral. The electronic document was issued by a medical...
On Wednesday, 12 December just before 6 pm, on the P1 platform, there was a historic, first in Po-land, e-referral. The electronic document was issued by a medical facility using Atende Medica soft-ware.0.12 MB Download0.35 MB Download
The P1 platform 1 allows for sending electronic referrals. On the evening of 12 December (at around 6 pm), one of the Warsaw’s health care centers, using the Medicus On-Line system developed my Atende Medica from the Atende Group, registered its first e-referral on the P1 platform. Thus, e-referrals moved from a pilot phase to the production phase.
As opposed to e-prescriptions, where only some software producers took part in the pilot and activation phases due to the imposed, small geographical areas, the e-referral pilot phase could be tested by any-body. However, Atende Medica is the first company to have sent an e-referral to P1 – says Tomasz Ju-dycki, Vice-President of the Management Board of Atende Medica.
The implementation of e-referrals will make it easier particularly for those patients who reserve their visits by phone or via the internet. So far, they have had to physically deliver a paper referral. At pre-sent, it is sufficient to make it available remotely to a medical facility. It will also make things easier for the facility itself, as it will receive full patient’s data in the e-referral, and the patient’s card will be reg-istered automatically, while the facility employees will not have to waste their time rewriting all the phone and address data in the system.
According to the Regulation of the Minister of Health dated 8 September 2015 on the general terms and conditions for the provision of healthcare, from 1 January 2019 onwards three documents – the hospital treatment information card, the hospital admission refusal card, and the specialist notice to the referring physician – will be issued only in electronic form. Soon, it will become obligatory to issue e-sick notes, as well as e-prescriptions and e-referrals. In two or three years, such documents will be issued only in electronic form.
A significant part of medical centers and doctors do not have adequate tools or IT facilities to meet the new challenges. Atende Medica is trying to help them, providing free-of-charge software enabling them to meet the new requirements for issuing electronic documentation.
Our cloudiMed solution requires just internet access and any search engine. Therefore, every doctor who has a smartphone may start using Atende Medica's software today – says Tomasz Juricki.
Link to available software: https://cloudimed.pl/
Atende S.A. is one of the leading IT companies in Poland, listed on the Warsaw Stock Exchange since 2012. It has been implementing technologically advanced IT projects for over 25 years. We specialise in providing IT infrastructure services, network integration, IT outsourcing, cloud computing and cyber security. As a Capital Group, Atende addresses its dedicated offer to telecommunications operators, public administration bodies, the medical sector, the energy sector and the multimedia industry.
Atende Co-authors First PIIT Block-chain Technology Report
On Monday, 10 December, the report titled “Block-chain in Poland. Opportunities and Applications”, drawn up by the Polish Chamber of IT and Telecommunications,...
On Monday, 10 December, the report titled “Block-chain in Poland. Opportunities and Applications”, drawn up by the Polish Chamber of IT and Telecommunications, in cooperation with Atende, was published. The report describes the existing business implementations of this technology in Poland, and it was created not by theoreticians, but by the block-chain practitioners. Starting today, you can download a free 90-page analysis from the official report site https://www.raportblockchain.pl/0.11 MB Download0.43 MB Download
The report is a comprehensive guide to the block-chain technology for the business, as well as a source of knowledge and inspiration for journalists and managers looking for innovative solutions for the modern business challenges. The publication shows the possibilities of using the block-chain technology under the Polish conditions, while the main part of the report is made up by descriptions of applications, analysed from the point of view of their business impact, which allow users to find new, interesting technology uses in any company.
The report was prepared by the Fintech Committee working at the Polish Chamber of IT and Telecommunications.
In our world, the discovery of the block-chain technology is as important as the discovery of a computer to make complicated calculations – says Marcin Chruściel, Chairman of the Fintech Committee at PIIT, and Vice-President of the Management Board responsible for the Consumer Market in Orange Finance - From that moment onwards, the banking services have flourished. Today, block-chain prepares for us another roller coaster ride into the future. Everything is about to change - from simple operations to global advanced clearing processes. In the Fintech Committee, we are determined to make sure that the technology is properly described, so that it moves from newspaper headlines and internet articles to a list of projects transforming many company areas. Where and how? We invite you to read what was done by those who understand the advantage of the new technology.
The Polish IT and Telecommunications Chamber executes its mission – co-creation of the foundations of Poland's digital development, taking many actions which are designed to ensure fair promotion of digital innovations – says Borys Stokalski, President of PIIT - One of those actions is this report prepared by the Chamber experts supervised by Marcin Chruściel, chairman of the Committee. I hope the report will provide you with a lot of inspiration to put the block chain technology into practice. After all, wise technology usage is the source of the innovation technological value.
One of the publication authors is Michał Legumina, Atende’s Innovation and Development Director, an architect of a unique solution based on the block chain technology, titled ChainDoc. Michał Leguimns was responsible for two pioneering commercial implementations of ChainDoc in Poland. In the publication, he helped describe the function performed by block-chain within the framework of a durable medium, specifying how the block chain solution revolutionises the traditional approach to communication with customers in terms of cost-effectiveness and business.
Awareness of durable carriers has been growing. All the companies want to gradually move away from paper. Instead of sending printed regulations (or copied on CDs) to their customers, they would prefer to transmit them in a convenient, digital manner. Sustainable carriers will be used in sectors with many customers, such as telecommunications, banking or insurance. New implementations are also observed in the other economy sectors. This trend will continue. In the near future, durable carriers will be standard in customer communications – says Michał Legumina.
In the study, we will find examples of applications that have been chosen in a cross-cutting manner in such a way that people operating in other sectors can find inspiring solutions for their business. The following business implementations have been described:
1. Permanent Medium
3. Supply planning and control
4. Electronic medical documentation of patients
5. Preventing theft of telephones
6. Counteracting factoring fraudsters
7. Decentralised distribution of digital content
8. Block-chain supported Robotic Process Automation (RPA)
9. Payments and interbank settlements using the Ripple network
Atende and Dimension Data Polska Place Only Bid in OST 112 Development Police Tender
The bid of Dimension Data Polska sp. z .o.o. (consortium leader) and Atende S.A. (consortium member) with the gross value of PLN 54.4 million was the only offer...
The bid of Dimension Data Polska sp. z .o.o. (consortium leader) and Atende S.A. (consortium member) with the gross value of PLN 54.4 million was the only offer placed on 29 November 2018 in a tender for the Police Headquarters regarding the modernization of and implementation of new solutions and e-services in the 112 Polish ICT Integrated System.0.11 MB Download0.25 MB Download
The Ordering Party’s gross budget amounted to PLN 55.7 million. The gross remuneration for Atende in the bid amounts to almost PLN 18 million, while the scope of works for the company includes the sys-tem, network and safety (project, implementation, post-work documentation, post-implementation workshops, and 60-month service).
The proposed technology is based on the specialised implementation competences of Atende in the following areas:
• data centre, SDN, and virtualisation
• mass storage and backup storage,
• network infrastructure,
New Atende's office in Koneser
Atende has transferred to the new premises in Warsaw, in Centrum Praskie Koneser. This is a modern complex of cultural and leisure facilities, and office and housing...
Atende has transferred to the new premises in Warsaw, in Centrum Praskie Koneser. This is a modern complex of cultural and leisure facilities, and office and housing facilities, located in the area of the former Wytwórnia Wódek (vodka distillery). Koneser, located in the heart of Praga, is a renewed centre of right-bank Warsaw.0.11 MB Download0.17 MB Download
Made of brick, the factory Koneser was built in 1897 r. It was one of the most technologically advanced industrial sites in Warsaw. Today, it has become a vibrant leisure centre and space for work for innovative companies, including the IT sector. Google Campus, made up of technological start-ups, and Polish Vodka Museum, may also be found in the complex.
Centrum Praskie Koneser combines history and tradition with modernity – the values perfectly matching the Atende profile. We have been developing top-class network solutions for 27 years. In recent years, the emphasis has been on the development of innovative software and IT services, says Iwona Bakuła, Vice-President of the Atende Management Board.
A unique community of people who want to combine work, leisure and development in one place has been gradually created in Koneser. Today, we welcome the employees of Atende and want to make sure that the inspiring atmosphere of Koneser becomes a permanent factor in their new office, says Magdalena Bartkiewicz-Podoba, CEO of Liebrecht & wooD Poland.
For several years, Atende has had its head office on the Praga side of the Vistula river. It was decided that it should stay there. The complex is located in the block of Ząbkowska, Markowska, Białostocka, and Nieporęcka streets, with the Koneser square in its central part. The new Atende address is Plac Konesera 10a.
I believe that the new place will inspire us to further develop, while our employees, clients and partners will feel great both in the new offices, and in the exceptional atmosphere of the entire site, adds president Bakuła.
Atende results: excellent Q3
Both in the 3rd quarter and during three quarters of 2018, the Atende Group performed significantly better than in the corresponding periods of the previous year....
Both in the 3rd quarter and during three quarters of 2018, the Atende Group performed significantly better than in the corresponding periods of the previous year. Compared to 2017, the sales to the public sector more than doubled. This great result was achieved mainly thanks to the dominating company - Atende.0.11 MB Download0.36 MB Download
In the 3rd quarter of 2018, the Atende Group earned sales revenue of PLN 78,114 thousand, which represents an increase by 44% y/y. Thanks to larger sales, a better gross profit was earned (PLN 21,271 thousand, 38% increase y/y). Despite the 10% (y/y) rise in the general management costs, resulting from the Group companies’ offer development, there was an improvement in operating result (profit of PLN 5,694 thousand, up by 267% y/y), EBITDA (profit of PLN 7,741 thousand, up by 151% y/y) and net profit (PLN 4,363 thousand, up by 358% y/y). Sales revenue earned by the Group during 3 quarters of 2018 was also significantly higher than in the previous year (PLN 192,774 thousand, up by 31% y/y). Cumulatively, in the period of three quarters of 2018, the operating profit stood at PLN 5,611 thousand compared to the loss of PLN 96 thou-sand in the previous year, EBITDA increased by 140% y/y and amounted to PLN 11,532 thousand, while net profit amount-ed to PLN 3,339 thousand, as compared to the loss of PLN 843 thousand in the previous year.
In sectoral terms, the biggest increase in sales took place in the public sector. Revenue in the three quarters of 2018 reached the level of PLN 82,852 thousand, up by 116% y/y. Largely, this is the result of Atende’s execution of projects for the defence sector and uniformed services. In addition, significant sales increases (both in Q3 and cumulatively in three quarters of 2018 - 25% and 40% y/y respectively) were achieved by Sputnik Software offering software for local govern-ment units.
Revenue from customers of the industry, trade and services sector increased by 41% y/y in the three quarters of 2018 (cu-mulatively by 21% y/y). This relates to projects implemented in the energy sector, including delivery of network equipment and services, as well as the implementation of security systems by Atende S.A., and activities related to smart energy grids implemented by Atende Software.
I’m really glad we achieved such great results in Q3. It was mainly due to the excellent performance of Atende S.A. I’m also delighted that the affiliates which had achieved relatively weaker financial results (contributing, however, to the consoli-dated result) were eager to execute their strategic goals consisting in implementing innovative products: AI elements (in the case of Atende Software) supporting content recognition in real time as regards the flagship product, i.e. Internet TV; Phoe-nix Systems implemented in the Kazakh market a smart meter, and a reading concentrator in the Russian market (both readers consistent with the proprietary technology of defining meters through software - the so-called Software Defined Meters); Ominchip ran a pilot sales of its proprietary air cleanliness meter (A2CC), and then conducted some pilot installa-tions of the system for managing and clearing electrical car charging. It is also worth mentioning that in Q3 Atende S.A carried out its first commercial block-chain technology implementations. The sum of these achievements is the result of many months of work, and it is likely to translate into noticeable financial results in the coming months, says Roman Szwed, President of the Management Board of Atende S.A.
In the 3rd quarter of 2018, the consolidated sales margin on subscription services amounted to PLN 9,906 thousand, which represents an increase by 11% y/y.
Atende S.A. is one of the leading IT companies in Poland, listed on the Warsaw Stock Exchange since 2012. It has been implementing technologically advanced IT projects for over 25 years. It specialises in providing high quality IT infrastruc-ture services, network integration, IT outsourcing, cloud computing and cyber security. As a Capital Group, Atende ad-dresses its dedicated offer to telecommunications operators, public administration bodies, the medical sector, the energy sector and the multimedia industry.
Results for H1: increase in gross profit by 18%, better sales in parent company and subsidiaries, and innovative projects
H1 saw the Atende Group generate consolidated income from sales at the level of PLN 114,660, i.e. 23% better than in the same period last year. Therefore, the Group...
H1 saw the Atende Group generate consolidated income from sales at the level of PLN 114,660, i.e. 23% better than in the same period last year. Therefore, the Group earned better (by 18%) gross profit (at the level of PLN 31,214 thousand), its EBITDA was higher by 121% y/y (PLN 3,791 PLN). The Group generated a relatively small net loss of PLN 1,024 thousand (as compared to PLN 1,795 thousand in 2017). Higher sales were reported by both subsidiaries (by 45% y/y) and the parent company, Atende (by 15% y/y).0.11 MB Download0.35 MB Download
The seasonality of our business is the reason why the first half of the year usually ends with weaker results. Therefore, in spite of a small loss in H1 2018 we anticipate good Group results for the whole year. Even today the rising contribution of our subsidiaries achieving good results and the portfolio of signed and potential contracts in the dominant company (to be executed in Q4) are the factors indicative of that - says Roman Szwed, President of the Management Board of Atende S.A.
Atende, the dominant company, achieved a better (by 28% y/y) gross result in sales. Our net profit of PLN 3,680 thousand was caused mainly by significant financial revenues (dividend payouts from the subsidiaries). Among subsidiaries, Sputnik Software, Atende Software and TrustIT had a positive impact on the results, while the impact of other companies was negative.
The telecommunications and media sector, which is a key market for the Group, accounted for the largest portion of the Atende Group’s sales in the 1st half of 2018. The increase in consolidated revenue on sales in the 1st half of 2018, as compared to the corresponding period of the previous year, was primarily due to the public sector, where revenue increased by PLN 19.4 million y/y (up to the level of PLN 19.4 million y/y). To a large extent, this increase was the result of Atende's projects for uni-formed services, as well as projects implemented for local government units by Sputnik Software. In turn, in the 1st half of 2018 Atende Medica implemented mainly projects won in 2017, co-financed from EU funds, for the computerization of hospitals and medical facilities, and recorded an increase in sales.
One of Atende Group’s strategic goals is a significant increase of the share of sales of innovative pro-priety software and services based on that software in the total revenues and margins of the Group. Therefore, the recent successes of the Group in this field are quite encouraging – adds Roman Szwed:
In July 2018, Atende completed one of the first commercial implementations of the so-called durable medium solutions based on the block-chain technology in Poland. The implementation was carried out for TCUW (Toruń Shared Services Center) which provides shared financial, accounting, payroll and tax services for nearly 80 organizational units of the Municipality of Toruń. ChainDoc, Atende's proprietary block-chain-based solution, supports TCUW's goal by authenticating documents submitted by TCUW electronically, which reduces the need to use paper or implement other cost-intensive solutions.
The last half of the year was important for innovative projects also in subsidiaries. Atende Software carried out for TVN S.A. a project called Player+ BOX, delivering software for a STB class customer de-vice (a set-top box). Phoenix Systems successfully completed the certification process for the smart gas meter developed for Apator Metrix, the largest manufacturer of gas meters in Poland and a leading one in Europe (with a view to selling the device in Italy). Energy Data Lab signed a three-year con-sortium agreement with Kantar Polska S.A. regarding
the joint creation and sale of a product called "TGI smart" used to monitor consumption of goods with regards to more than 300 product categories and 3500 different brands in Poland. Company 2 Cus-tomer Care acquired its first customers, including Lotos, for the proprietary eCars software used for the management of the recharging infrastructure for electric cars, and it plans further expansion in foreign markets. OmniChip is finalizing works on the commercialisation of the proprietary integrated circuit protecting against card theft. TrustIT increased - as compared to the previous year - its reve-nue (by 20%) from the provision of modern IT outsourcing services (of permanent nature).
Atende S.A. is one of the leading IT companies in Poland, listed on the Warsaw Stock Exchange since 2012. It has been implementing technologically advanced IT projects for over 25 years. We specialise in providing IT infrastructure services, network integration, IT outsourcing, cloud computing and cyber security. As a Capital Group, Atende ad-dresses its dedicated offer to telecommunications operators, public administration bodies, the medical sector, the energy sector and the financial industry.
Pioneering implementation of block-chain in the public sector
Atende has signed a contract related to one of the first Polish implementations of durable medium solutions based on the blockchain technology. The decision on the...
Atende has signed a contract related to one of the first Polish implementations of durable medium solutions based on the blockchain technology. The decision on the pioneering implementation of the innovative so-lution to authenticate transmitted documents transmitted was made by the Toruń Shared Services Centre (TCUW) – a local government organisational unit of the City of Toruń.0.09 MB Download0.2 MB Download
TCUW provides shared financial, accounting, payroll and tax services for nearly 80 organizational units of the Municipality of Toruń. The main objective of TCUW is to increase the operational efficiency and optimise the costs of servicing the units covered by the shared service and reporting to the City of Toruń. ChainDoc, Atende's proprietary block-chain-based solution, supports TCUW's goal by authenticating documents submitted by TCUW electronically, which reduces the need to use paper or implement other cost-intensive solutions.
Properly dedicated IT systems enabling electronic circulation of documents and their approval between served units and serving units are quite essential for the performance and efficiency of the Shared Services Centre, says Paweł Modrzyński, Director of TCUW.
ChainDoc was integrated with the ISOD platform (Internet Document Circulation System) – an existing solution previously created for TCUW, which aims to exchange electronic documents between TCUW and its clients. Financial and accounting documents, as well as payroll documents going through the system are recorded by ChainDoc with the use of the block-chain technology on a durable medium which makes it possible to secure any document containing an electronic signature - e.g. against modification by third parties.
The Atende's solution eliminates the necessity to transfer documents in paper form. Thanks to
ChainDoc, documents are time marked - and it is perfectly clear when they were put in the system, and they are undisputed in their form and content - due to their registration and verification – says Jacek Szczepański, Opera-tions Vice-President in Atende S.A.
Previously, in August 2018, Atende’s ChainDoc was used by ShareSpace, a Polish startup and online platform, to rent out service and co-working offices, in order to ensure security of the rental transactions between Busi-nessLink and Ricoh.
The ChainDoc solution has been designed so that it can be integrated with virtually any system. Apart from document circulation, it is used in CRM systems (recording the moments when the actual contact with the cus-tomer took place), ERP systems (recording scans of documents, contracts, etc.), technological manufacturing processes (recording the subsequent stages of the process), etc. ChainDoc is also a particularly valuable solu-tion for those entities that send documents to end customers on a durable medium (insurers, banks, telecom operators).
Currently, the block-chain technology is mainly associated mainly with crypto-currencies, which deprives it - to an extent - with reliability. However, the “chain of blocks" technology will soon be put to a series of applica-tions in virtually every industry dealing with information processing, for example financial institutions, insur-ance companies, telecommunications operators, or gas and energy providers.
For more information, please visit: https://atende.pl/en/product-offer/electronic-durable-medium
Poland’s first real estate transaction based on the block-chain technology provided by Atende
In August 2018, ShareSpace, a Polish startup providing innovative technological solutions to tenants in the scope of rapid access and management of the process of...
In August 2018, ShareSpace, a Polish startup providing innovative technological solutions to tenants in the scope of rapid access and management of the process of renting service and co-working offices all over Poland, managed to have a transaction carried out, using the block-chain technology based on an Atende’s solution.0.11 MB Download0.36 MB Download
Responding to the expectations of ShareSpace online platform users (freelancers, startups, small and medium-sized enter-prises, and corporations), the innovative block-chain solution was used to ensure the security of the rental transaction, the validity of commercial and legal terms and conditions, and the reduction of costs of intermediation and consulting. The access to, verification and validation of documents and commercial arrangements take place on the basis of a decentral-ised platform, which significantly reduces the time of negotiation and retains - at the same time - the security guarantees of the entire online process, even with the involvement of many actors.
The first transaction was possible thanks to the commitment of a pioneering working group. A detailed description of test scenarios and application test cases verifying the consistency of the block-chain based transaction with functional re-quirements were ensured by Atende S.A. (listed on the Warsaw Stock Exchange), a company which specialises in providing advanced IT solutions within the scope of IT infrastructure and innovative software.
- Block-chain in the process of executing rental agreements is of particular importance. Thanks to the attributes of invaria-bility of information saved in the block-chain, all parties to the transaction are confident about the defined arrangements. Such a method of recording is deemed to satisfy the requirements of the so-called durable medium. In addition, the Atende's solution presupposes the existence of the so-called trusted hubs that raise security of the transaction even more. Involved in the undertaking under analysis were the block-chain networks of both ShareSpace and Atende, as well as a trusted hub of Hogan Lovells, a law firm - comments Michał Legumina, Head of Innovations and Development in Atende S.A.
The Systemic Research Institute at the Polish Academy of Science, responsible for the development of science in Poland (dealing with, inter alia, research related to IT, mathematics, and econometrics), and a leading block-chain technology expert (professor Stefan Dziembowski from the IT Institute, Department of Mathematics, IT and Mechanics in the Warsaw University) supervised the transaction.
The international company Hogan Lovells was responsible for managing the legal basis of the transaction and making sure that the project was carried out in accordance with applicable laws. The international consultancy Cushman & Wakefield was engaged in the transaction with regards to the business and market analysis, making sure that the highest real estate rental standards were maintained.
One of the parties to the transaction was Business Link – the largest co-working space operator in Poland offering access to the business community of the startups and corporations. - For Business Link, professionalism and innovativeness are top priorities, so a block-chain contract was sort of natural to us. Thanks to the automation of the entire process, not only did we save time, but also enabled professionals to have easier access to our network of 17 unique spaces located in the largest cities in Poland – says Maciej Król, Growth Director in Business Link.
The tenant was a company called Ricoh. Thanks to the rental transaction on the platform, carried out by Ricoh in just 10 minutes (from search activation to the signing of the agreement), the company obtained access to the network of tenants of Business Link spaces in Wrocław and other Polish cities. Thanks to delivered tools, Ricoh, a leader of solutions supporting modern working places, was not only able to use the block-chain technology speeding up the signing of the contract, but was also provided with access to the Business Link community, which increases the potential sales market for our services and products - says Rafał Gutkowski, Office Services Director responsible for the transaction on the side of Ricoh Polska.
The use of the block-chain technology in the real estate market is quite unprecedented in Poland, while securing the integ-rity of commercial and legal terms sets out a precedent globally.