Århus-based Dynamicweb Software, which develops Content Management Systems (CMS), has entered agreements with two leading Greek banks, Alpha Bank and Piraeus Bank, to supply software for their websites. Alpha Bank is the second largest bank in Greece with a market value of DKK 74bn (USD 15.4bn), while Piraeus Bank has a market value of DKK 42bn (USD 8.7bn).
MD Christian Beer of Dynamicweb Software told Ugens Erhverv: "It has great importance to us to become established on the south European market where the potential is enormous compared to the Nordic region. With Greek banks, we are up among the heavyweights."
Dynamicweb Software has gained a foothold in southern Europe through distributors in Greece, Portugal and Spain. The distributors gain exclusivity to sell the CMS solution in their country, while Dynamicweb Software gains access to their networks.
"It is far more difficult to establish partnerships in the Mediterranean countries than in Denmark. In southern Europe, deals are made more with people you know, so it's a bit of a barrier to come from the Nordic region and offer a product that requires great confidence in operational reliability," says Christian Beer.
Dynamicweb Software has sold its solutions for investor relation websites in Japan and Europe, which was important for making the new deals. "Banks cannot accept errors and they focus a lot on reliability. Our new customers have looked at the fact that we already have 4,000 customers and have eliminated possible defects. Furthermore Danish software has a good reputation after the Navision* acquisition. Italians are good at design, Germans are good at cars and Danes are good at software," says Beer.
Dynamicweb Software supplies CMS solutions for websites, intranets, extranets, portals and eCommerce.
The company develops and markets Dynamicweb, a Microsoft .NET-based content management system. All products are sold through national and international distributor and reseller networks.
* Microsoft acquired the Danish software company Navision in 2002 for USD 1.76bn , the second most expensive acquisition in its history up to that time.