From correspondents in Maharashtra, India, 02:01 PM IST

Compulink Systems Ltd, an Internet protocol driven IT firm, Tuesday announced inking a contract with Hyderabad-based SKS Microfinance for developing its business applications.

In a statement issued to the Bombay Stock Exchange, Uday Kothari, chairman and chief technology officer of Compulink, said the company's prime focus would be to install 'our 'Whiz' framework wrapped on top of Microsoft's net platform to power the core system for SKS, which will benefit thousands in the rural areas of India by facilitating quicker decision-making'.

Compulink said the system would covers areas related to micro-credit, micro-insurance, health insurance and accounting systems, and would integrate the activities of SKS branches across India through a centralised web-based set of applications.

This would help SKS in reducing operational costs, provide accountability for funds, and generate real-time reports for management and decision-making, the statement said.

(Staff Writer, © IANS)