Namsys Inc. (TSXV:CTZ)Technology
Namsys Inc., earlier known as Cencotech Inc., is a software technology company that offers Software-as-a-Service (SaaS) solutions for efficient currency management and control systems. The financial technology firm is engaged in the designing, development and commercialization of software that facilitate secure cash processing, transportation and logistics services.
The Richmond-based company, through its cloud-backed SaaS platform – Cirreon – streamlines and provides fully integrated cash processing solutions, including:
• Smart safe monitoring
• Deposit tracking
• Cash-in-Transit (CIT) logistic operations
• Online change orders
The company helps clients to manage all types of cash processing and CIT operations in a single unified platform. In addition, Namsys provides a software – Currency Controller – that supports multiple cash vaults and minimizes administration costs. It facilitates a full suite of cash vault management and logistics solutions, including disaster recovery.
Currency Controller is equipped with multiple features and functions:
Complete functionality for customers, smart safes, branches and ATMs
Web self-service interface
Real-time PDF/ Excel reports, including automated email delivery
Help in counting and sorting equipment from manufacturers
Built-in billing system with customer billing profiles
The turnkey software products by the fintech corporation help clients to optimize their business operations and quarterly updates enable them to evolve further and deliver a better user experience. Namsys’s products are utilized by financial organizations, retail businesses, currency carriers, casino and mass transit operators, and numerous government agents. It also renders cash processing services in the merchant and banking industries.
Namsys charges software license fees for revenue growth. It also earns revenue from hosted services, professional services, maintenance and product support. A major portion of revenue comes from the U.S. market.
Namsys was initially incorporated in January 1997 as Cencotech Inc. according to the Alberta Business Corporations Act, and in October 1999, moved to Ontario. Later, in 2016, the company amalgamated with Namsys, its 100 per cent owned subsidiary and renamed itself Namsys Inc. Namsys is a publicly listed company on the TSX Venture Exchange, with its ordinary shares trading under the stock quote CTZ.
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