SUMMER INTERNSHIP PROGRAM 1

A PROJECT REPORT
ON

“CREATING DISRIBUTION CHANNEL OF A

FINANCIAL SOFTWARE”

SUBMITTED BY:
RAJGOURAV MITRA
PGPBM : PB 07148
SESSION: 2007 – 2009
PH: 9903595870
raj.g.mitra@gmail.com

UNDER THE GUIDANCE OF:

(A) FACULTY GUIDE: (B) COMPANY GUIDE:
ARINDAM BANERJEE HASAN WANGDE

Start date of Internship: 1st April, 2008

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End date of Internship: 28th September, 2008

Report Date:

ABSTRACT

It is a great privilege to work on a project in Iris Business services India Pvt limited during my summer
internship. It was a good learning experience to work on a project like this where there were ample chance
of learning.
The whole project I have done under the guidance of two respected persons. The
first one is my company guide Mr. Hasan Wangde, who is a gentleman. He is a kind of person who is
always ready to help anyone. And throughout the project he did guide me whenever I needed. So, a special
thanks to him for being so co-operative to me. The second person involved with me in this project is my
faculty guide Mr. Arindam Banerjee. He is a great motivator. And my special thanks to him for driving me
in the right direction throughout the project. He did guide me at all the steps whether it is answering the
queries of the clients, or, making a presentation to them. So, I am grateful to both my guide for being so
nice to me and always being supportive.
In the project, I have used my experience and learnings which I have gone through my training process.
We basically had to market the financial software of our company and create distribution channel for it.
But the fact that we were more on the field work it was a kind of on-job-training for me. Me with my two
college mates were given hometown for our training purpose as we were well accustomed with the area
and the type of market that prevails there.
These things I have included because I felt that in India the main obstacles in one’s is the lack of
awareness about the importance of financial Planning. So, I found these topics very relevant to the subject.
So, this is how I have tried to prepare this report with the support of some seniors and both my guides.
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Company Profile
IRIS has over twelve years of proven expertise in the financial information management space. The firm
owns and manages one of India's most comprehensive financial information databases, covering the
universe of publicly traded companies, mutual funds, markets reference data to a live news service on
Indian business, markets and the economy. Apart from content, it offer technology solutions to our
institutional clients for effective content management.

IRIS supports content requirements for institutional clients as well as retail clients both in the Indian and
global markets. The content solutions range from raw data provision, to newsletter creation and research
support. Its digitization division undertakes large volume digitization of financial content. Its financial
training division offers programs both to retail and institutional clients.

myiris.com, India`s leading personal finance destination, was launched in 1999 and is widely used by
retail investors with an interest in Indian markets. They have recently launched myiris plus, a first of its
kind desktop based application which allows users to aggregate and manage their financial statements, tax
filings and more from their desktops.

On the institutional side, their clients include banks, mutual funds, broking firms, information firms and
leading corporates. They expertise in the XBRL arena, the information standard for financial reporting,
has led to several prestigious contracts from regulators and associations, including from the Institute of
Chartered Accountants of India to build the taxonomy for India. Their clients include the BSE and NSE,
who have adopted Corpfiling, IRIS’ XBRL friendly common electronic filing solution to facilitate
company filings.

IRIS is entirely professionally owned and managed. With over 250 young and dynamic professionals
working 24 x 7 from a sprawling 20,000 sq ft office in the International Infotech Park, Vashi, Navi
Mumbai, IRIS seeks to engage customers both institutional and retail, to support their information needs.
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IRIS seeks to be a strategic provider of information and research solutions to global customers through
leading edge technology, people and processes. IRIS has over twelve years of proven expertise in the
financial information management space. The firm owns and manages one of India's most comprehensive
financial information databases, covering the universe of publicly traded companies, mutual funds,
markets reference data to a live news service on Indian business, markets and the economy.

On the institutional side, our clients include banks, mutual funds, broking firms, information firms and
leading corporates. Our expertise in the XBRL arena, the information standard for financial reporting, has
led to several prestigious contracts from regulators and associations, including from the Institute of
Chartered Accountants of India to build the taxonomy for India. Our clients include the BSE and NSE,
who have adopted Corpfiling, IRIS' XBRL friendly common electronic filing solution to facilitate
company filings.

What's new at IRIS?????

IRIS Appoints Liv Watson to Board of Directors

MUMBAI, India and NEW YORK, Oct. 14 -- IRIS, a global leader in business and financial information
products, data feeds and
XBRL-enabled technology solutions announced today that it has appointed Liv Watson to the IRIS Board
of Directors to lead the company's global business development and direct marketing and sales of its
proprietary products and services.

"Liv Watson is an important member of our leadership team and will be crucial to the global roll-out of
our innovative products," said S. Swaminathan, CEO of IRIS. "Liv's experience as a founding member of
the XBRL initiative as well as her extensive network of relationships with the world's stock exchanges,
securities regulators and government agencies will be central to her efforts to strategically deploy our
XBRL solutions. With more countries adopting XBRL, companies and auditors will be looking for reliable
XBRL tagging solutions, and regulators will be seeking seamless XBRL filing solutions - Liv will lead
IRIS' efforts to meet those needs."

In addition to her duties with IRIS, Ms. Watson serves as chair of the XBRL International Jurisdiction
Development Sub-Committee and as an at-large representative on the XBRL International Steering
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Committee. Prior to joining IRIS, she served as Vice President of Global Strategies at EDGAR Online,
Inc.

Liv Watson is one of the founding members of XBRL and has been instrumental during the past ten years
in the creation of the XBRL International framework for the financial and business reporting supply chain,
and has presented to a wide range of audiences ranging from international standards bodies to Fortune 500
about its benefits, potential applications, and broad adoption of XBRL.

"IRIS has a comprehensive range of XBRL products and services that meet the various business reporting
needs of a global marketplace," said Liv Watson, Member, IRIS Board of Directors. "Not only do we offer
out-of-the-box solutions, we have the talent and knowledge to work with clients to design custom, scalable
XBRL solutions for any number of needs, from regulatory filings platforms to benchmarking databases to
tagging applications. As XBRL continues its momentum towards adoption by all major capital markets,
IRIS is well-positioned to expand its market share in the Middle East, Europe, Asia, Africa and North
America."

IRIS building the XBRL Bank Reporting System for the Reserve Bank of India

IRIS has one of the world's largest XBRL management teams and offers a suite of XBRL products and
services which have been leveraged by several clients, including the Bombay Stock Exchange; the
National Stock Exchange (India's two leading exchanges), the Reserve Bank of India and the Institute of
Chartered Accountants of India. IRIS has also worked extensively on the US GAAP XBRL taxonomy and
has been providing XBRL custom designed services for financial service firms. IRIS owns and manages
the largest XBRL repository of instance documents from historical annual reports of listed Indian
companies.

IRIS building the XBRL Bank Reporting System for the Reserve Bank of India IRIS has won the contract
to build a bank reporting system for the Reserve Bank of India (RBI). The system will enable banks to
report in XBRL format (also known as XBRL instance documents), run validations, store and enable
rendering data in several formats for various departments of RBI.

XBRL is the new global standard for financial information exchange, which is being adopted across
countries for internal and external reporting.

XBRL is being adopted by the banking industry in several countries, Europe having all its banks report in
XBRL format. RBI has decided to go ahead with adopting the XBRL standard for banks reporting to RBI
in India. The XBRL standard will enable banks to submit data in a standard manner, and allow various
departments of banks to analyse this data modelled into different reports, adhoc and pre-defined.

With this project in hand, IRIS has established itself as a pioneer of the XBRL movement in India. IRIS is
also building the XBRL taxonomy for the country, mandated by ICAI (Institute of Chartered Accountants
 SUMMER INTERNSHIP PROGRAM 6

of India), and has built the electronic filing platform, XBRL compliant, for the two biggest stock
exchanges in India (The Bombay Stock Exchange, The National Stock Exchange).

IRIS awarded prestigious contract to build the XBRL taxonomy for the country
IRIS is building India's XBRL taxonomy for Indian GAAP. It has been awarded the contract by ICAI
(Institute of Chartered Accountants of India), the governing body for accounting. XBRL is the new global
standard for financial information exchange, which is being adopted across countries for internal and
external reporting.

The Indian XBRL taxonomy will store all the Indian GAAP rules in electronic documents that can be
processed by any software. This taxonomy will be used by companies to report in XBRL format.
Taxonomy for India will be its first major step towards XBRL based reporting.

The data in XBRL format links to the business and accounting rules in the taxonomy. Hence any kind of
data in XBRL format is consistent and conforms to the rules and regulations. Any inconsistency is quickly
and automatically thrown up by systems.

XBRL also enables analysing and comparison of data more quickly, efficiently and reliably, hence shifting
the analyst focus to analysis, decision-making rather than data collation and preparation.

IRIS has recognised the benefits of XBRL, and is building a huge repository of corporate data in XBRL
format. IRIS has also built tools and services to capture, validate and consume XBRL information. The
electronic reporting platform (www.corpfiling.co.in ) has been built by IRIS is XML enabled and XBRL
compliant.
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Product and Services

 XBLR Services

XBRL (eXtensible Business Reporting Language) is a fast evolving standard being adopted across
the globe for information interchange. IRIS being the owner of one of India's largest financial
information databases is a major player in bringing XBRL and its benefits to the country.

IRIS has its own suite of tools (FinX, iFile) catering to the entire information supply chain. In
addition to this we provide consulting services, outsourced services in converting information into
XBRL format. We will soon be launching XBRL Data Services, our being the first database in the
country in XBRL format.

• Ifile
Stock Exchanges across the world are increasingly turning to state-of-the-art technology
solutions to provide superior service to stakeholders and also to meet stricter regulatory
needs. One area where there is great scope for improving existing practices is in the area of
company filings, where price sensitive and compliance intensive information is currently
captured and disseminated in ways that have not kept pace with global developments.

• FinX

From creation to consumption, the FinX suite is a comprehensive

set of tools used for definition, generation & consumption of XBRL documents. It enables
the users to define taxonomy, create XBRL instance documents & allows rendering of the
XBRL instance documents in multiple formats.

Fin-X Taxonomy Generator

This tool allows you build taxonomies ground up and also open/edit/modify and extend any
public or private taxonomy. This intuitive desktop based tool is easy to setup & helps you
can get started in minutes. It's a great tool for creators of taxonomy.

Fin-X Tagger
This versatile tool features extraction & tagging of any word, excel or html document to
any XBRL taxonomy & generate XBRL instance documents. The tagger takes care of all
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validations based on link bases. The input to this tool can be both structured and
unstructured document file and converting it into XBRL instance documents. Apart from
GAAP, one can also customize this tool & build in custom validation rules. The tagger has
an impressive array of features including self learning pattern & tagging algorithms. This
tool is specially built for highly unstructured data.

• Iservices

IServices: Solutions for data conversion and end user applications. Our iServices suite of
web services tools allows consumers to receive the information into their applications
directly, in the manner they want. As an example, loan officers of banks can receive
information in their credit analysis templates; equity research analysts can receive it in their
DCF models and so on.
The availability of tools like iServices has serious implication for the successful
implementation of Basel II norms. Data is rendered truly interactive, and it is possible to
serve a market of one, profitably.

 Training & E-learning

The term training refers to the acquisition of knowledge, skills, and competencies as a result of the
teaching of vocational or practical skills and knowledge that relate to specific useful competencies.

Training has specific goals of improving one's capability and performance. In an age where talent
retention is as important as consistent performance and quality outputs, training is an essential tool.

It helps keep pace with the changing needs of the business world.

We help you find that combination of theory and practice that will best fit your business to forge
ahead. Our blend of training will be tailored to suit your needs.

Whether it is a paradigm change that you need or a reworking of elements already present but not
fully exploited in your company, our solution will be soldered to the reality of your needs.

We are a need-driven outfit and are responsive to our clients'

• Open Programs
Workshops , seminars and conferences, provide a highly interactive and collaborative
setting where people can combine forces to identify, exchange, plan and elaborate emerging
ideas, high-quality research, cutting-edge practices and other efforts.

• FINANCE FOR NON- FINANCIAL PROFESSIONALS

• BUSINESS FINANCE
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• PERSONAL FINANCE
• SUPPLY CHAIN MANAGEMENT
• EFFECTIVE LEADERSHIP SKILLS

• In-house Training
Our expertise in the financial domain makes us the ideal vendors for partnering for your in
house programs

Basic product training

• Equities
• Life Insurance
• Debt
• Mutual funds
• Commodities
• Derivatives

Regulatory Exams

• NCSM Exams
• AMFI Training

Advance product training

• HNI Client Handling

• Personal Financial Planning
• Selling Skills for Financial Products

Soft Skills for Financial domain

• Business Etiquettes
• Induction Training programs
• Negotiation Skills
• International Cultural and Social protocols
• Customer Care Management
• Leadership Management & Time management Skills

Customised Courses
 SUMMER INTERNSHIP PROGRAM 10

• Valuations
• Fundamental Analysis
• Mathematics of investing
• financial know- hows in retail
• Financial for Shop -floor manager

 Content
We strive to provide our clients with the highest level of content services and have been doing so
with a project management team that successfully combines our strong processes and technology-
driven systems to satisfy the most specialized of corporate content demands.

Our content department has unmatched expertise in the entire gamut of content-related skills,
ranging from conceptualization through writing, editing, proofreading and indexing, that go into
meeting the content demands of corporates and the business world at large.

• Newsletter
Indian Economy Watch: This weekly newsletter helps subscribers stay on top of Indian
economic developments. Apart from providing key macro economic variables, the
newsletter helps readers cotton onto trends early.

Indian Policy Watch: This is a weekly newsletter focussing on policy announcements of the
week, in addition to providing an analysis of the more important ones.

• Business Database
Our databases are comprehensive. The information captured in an atomized manner from
original sources, permits their delivery in a customer defined format and user preferred
frequency. Products are spun out of the databases leveraging on our technology strengths
and financial domain knowledge. We run a news service covering the equity markets and
mutual funds, a team of analysts complement with their insightful writing which the market
has come to value.

Click on the name of the database to learn more.

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Database Description
Corporate Information Universe of listed Indian companies.
Covers all listed Indian companies, appropriately tagged and indexed.
Market Reference data
We cover the 2 main stock exchanges, BSE and NSE.
Mutual Funds Universe of Indian mutual funds
Time series information covering economic and social indicators on
Economy and Industries
India and the States. Plus sector wise, industry information
Legislations, bills, notifications to investment guidelines, policy
Policy
pipeline
News and analysis News, views and analysis on equities, mutual funds and more.

• Publishing
We undertake contract publishing for specialized and corporate needs. Our ability to
understand the requirements of corporates for fulfilling the information needs of carefully
defined audiences enables us to offer complete publishing and printing solutions, ranging
from conceptualization to editorial, design, printing, distribution, and advertisement sales.

One of our major publications is the Sensex, the Bombay Stock Exchange’s premier bi-
monthly publication which goes out to over 15000 people, comprising of the who's who of
the business and financial community - the CXO layer in corporates, all players in the
financial services industry, regulators, academics and opinion makers, media, foreign fund-
managers and associations, and the government (including ministers and bureaucrats at the
Centre and the State). The publication has recently completed a one year run and has set an
unparalleled benchmark among custom business publications.

 Business Solutions
We endeavour to provide solutions for a dynamic environment from business and technology
perspective that will ultimately bring our client’s business strategy to life and drive the business
towards greater success. Our approach focuses on new methods of business combining IT solution
while also leveraging and maximizing an organization's current assets.

In the past, we have helped many businesses achieve better, faster, more effective and efficient
results through our business solutions. Talk to us and we will work with you to establish solutions
suitable for your particular needs and maximize your business potential to the full.

• Epassbook
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ePassbook is the institutional version of myirisPlus. In addition to the features that have
been outlined for myirisPlus, ePassbook is tailormade to import transactions from the
financial institution. The institution also gets prominent branding in ePassbook. Institutions
can also drive targeted ads to their customers, thereby increasing customer involvement.

• Digitizing Services
IRIS offers large volume digitizing services, from scanning physical documents, converting
through OCR to PDF, HTML or MS Word format, and quality check to ensure 99%
accuracy. In addition, we also have proprietary software to add further value to the
digitized content, including converting data into XML and XBRL instance documents. As
one of India’s leading financial information providers, we have also digitized over 20,000
annual reports and offer a digital annual report service.

Key Features

• 99% accuracy
• Quick turnaround time
• Conversion to PDF, MS Word, HTML as well as client desired formats
• Value added solutions to create databases, or XML / XBRL documents using the
digitized data
• Productivity of over 10,000 pages per day

• Independent Research

We offer customized research and research support services. These include company
reports, industry studies, due diligence reports, trade research and market research. The
scope of the assignments is defined by the clients, and teams of analysts and data associates
work to meet client requirements. Research teams can be dedicated or shared, depending on
the types and duration of the engagement.

Our analysts are trained in business and financial analysis, and we provide staff to support
firms that seek to outsource research support activities. Analysts play diverse roles in the
area of research support, based on client requirements - financial model maintenance,
background reports and studies on firms and industries, transcripts of earnings calls,
preparation of presentations. In providing research support services, our analysts work
either as dedicated resources for clients, or on assignment basis.

 Personal Finance
 SUMMER INTERNSHIP PROGRAM 13

We are a one-stop shop for all your personal finance and money matters.

Using a combination of quality content and fine technical research, we provide the best of
information on many kinds of financial products, from credit cards and personal loans, through to
insurance, mutual funds, pensions, and savings.

Additionally, we provide premium personal finance planning tools, which allow you to track and
evaluate your financial statements and investments, in turn giving you the best feedback on your
financial health.

Talk to us and we'll point you in the right direction to get your money working for you.

• Myiris Plus

Myiris Plus, a desktop based application is a easy to use Personal Finance organizer which
allows you to consolidate different financial statements, track investments, view reports,
and look at different financial investment options.

Consolidation
Consolidates a large range of financial accounts right from banks, credit cards to small
saving accounts. Helps take better financial decisions with single view of the financial
universe.

Portfolio
Tracks, researches and helps analyze the equity and mutual fund portfolios. Live price
updates, charts, latest news, watchlist, stock scroller and many more features that help
manage investment portfolios.

Reports
Customized reports on Income & Expenditure, Networth, Capital gains, Portfolio, Budget,
Cash Movements and Equity & Mutual fund dividend history which assist in taking better
informed financial decisions.

Tax
Simplifies tax filing by selecting the correct ITR form and auto populating the necessary
fields with data already captured by the application. The application prints the ITR form or
generates an XML file for online filling.
 SUMMER INTERNSHIP PROGRAM 14

• My Iris

Myiris.com is India's preferred personal finance destination

where people research stocks and mutual funds before
transacting in them with an intermediary of their choice.
The portal offers live news and stock quotes, company
fundamentals data, mutual funds data, along with a suite of
tools for comparisons and analysis. In addition, the site also
provides up-to-date information on IPOs, Analyst Meets
and Corporate Results.

There's a lot more for a serious investor. The site provides

detailed sector reports, analysis of results, charting tools
and other important pointers on the stock markets like
active stocks.

For beginners to the world of investments, basic walk-

throughs and FAQs are available on the site. A research
tutorial for any company can be created on-the-fly,
incorporating latest information, and presented in an easy-
to-read manner for lay users.

Add myiris.com to your list of favourite portals, and keep

track of India on a continuous basis.

Myiris.com is a good platform to reach out to the investor

community. To explore how to make it work for you, write
to d.rangarajan@irisindia.net
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Our Differentiators

Flexible and highly responsive

With a team size of 260 and growing, we are highly flexible and responsive to client requirements. We
have developed many firsts in the Indian markets, including Corpfiling, the Common Electronic Filing
Platform for firms listed on the BSE and NSE; the first XBRL based corporate database, and the first of its
kind desktop application that facilitates account aggregation, tax planning and more

Thorough understanding of information management

Information management involves an approach of integrity and rigor to information, an ability to identify
and map processes for managing different types of information sets, use of technology from the stage of
data capture through to structuring, analysis, processing and delivery. We have honed these skills over the
years, and our ability to manage information has been used by clients in the financial market space, as
well as in manufacturing, retail and other industries.

Effective use of technology

IRIS’ proprietary and highly flexible content management solution allows us to capture, manage and
consume data in multiple formats, build customized validation rules and present content in multiple
formats. We have built a number of adapters to handle specific information sets, and our effective use of
smart technology, combined with skilled people resources, provides a significant advantage to our
customers.
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CLIENTS

American Express
Asit C. Mehta
Bank of Baroda
Credit Analysis & Research
Chescor Holdings, UK
Citibank, N.A.
Confederation of Indian Industry
Cholamandalam Investment & Finance
DSP Merrill Lynch
FEI Investments, Zurich
Fitch India
Government of Maharashtra
Gandhi Securities
HDFC Bank
HDFC Mutual Fund
HDFC Securities
HSBC
ICICI Bank
IL&FS Investsmart
Jasubhai Media
Jim Penning & Associates, Luxembourg
J M Mutual Fund
Khandwala Securities
Kotak Securities
MIDC, Government of Maharashtra
Mangal Keshav Securities
Morgan Stanley
Murugappa Group
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NMMC, Maharashtra
Networth Stock Broking
Prudential ICICI
SMIFS
Standard Chartered Bank
Sun F&C AMC
TAIB Securities
Tata Motors
TIFAC, Government of India

Founders of IRIS

Swaminathan is the Chief Executive and Founder of IRIS. An economist trained at Yale University, USA,
he served briefly as a Consultant to the World Bank in Washington DC before returning to India to first
co-found a software company. He then went on to pursue a career in the media, serving in senior positions
with India's leading financial daily, The Economic Times and later with the country's leading magazine,
Business India. He founded IRIS in 1994. Apart from his passion for information, Swami is also
passionate about cricket, and was closely involved in organizing the World Cup cricket tournaments
before founding IRIS. Swami is also the Chairman of Bharatiya Vidya Bhavan’s New Bombay chapter.

K Balachandran (Bala), a co-founder of IRIS, heads the information and research delivery operations at
IRIS. He was a Group Leader and Senior Analyst at CRISIL after a stint as a business economist with Tata
Economic Consultancy Services. He rated more than forty companies while at CRISIL. He led several
company and industry research assignments at IRIS and played a crucial role in building the research
delivery capabilities of IRIS. Bala also spearheads the XBRL initiative at IRIS, and is also a Director on
XBRL India. Bala is also the CFO of the firm. Bala is a Chemical Engineer, and an MBA from the Indian
Institute of Management, Bangalore.

Deepta Rangarajan, also a co-founder of IRIS, heads HR and also supports operations at IRIS. She plays
a key role in the conceptualization and design of almost all of IRIS' information products and services,
including the content management system and Myiris.com. Before IRIS, she worked with American
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Express Bank, and CRISIL (India’s first credit rating agency). Deepta is also a Chemical Engineer from
the Indian Institute of Technology, Delhi, and an MBA from the Indian Institute of Management,
Ahmedabad.

MYIRIS PLUS- THE FINANCIAL SOFTWARE

Myiris Plus, a desktop based application is a easy to use Personal Finance organizer which allows you to
consolidate different financial statements, track investments, view reports, and look at different financial
investment options.

Consolidation
Consolidates a large range of financial accounts right from banks, credit cards to small saving accounts.
Helps take better financial decisions with single view of the financial universe.

Portfolio
Tracks, researches and helps analyze the equity and mutual fund portfolios. Live price updates, charts,
latest news, watchlist, stock scroller and many more features that help manage investment portfolios.

Reports
Customized reports on Income & Expenditure, Networth, Capital gains, Portfolio, Budget, Cash
Movements and Equity & Mutual fund dividend history which assist in taking better informed financial
decisions.

Tax
Simplifies tax filing by selecting the correct ITR form and auto populating the necessary fields with data
 SUMMER INTERNSHIP PROGRAM 19

already captured by the application. The application prints the ITR form or generates an XML file for
online filling.

INTRODUCTION

Myiris.com is India’s most comprehensive personal finance portal for information on stock markets,
Companies, mutual funds, economy, broker research and much more. In addition, Myiris.com offers
multiple tracking and analysis tools for investors, such as the portfolio tracker, risk analyser and research
tutorial.

Myiris.com now brings to you myiris plus, an innovative software tool that promises to immensely
simplify the process of maintaining our financial records and filing your taxes. Detailed information and
analysis is now available at a mouse-click as myiris plus can record every single transaction (bank, credit
card, mutual fund or equity related) over a period of time, and aggregate it in one single view.

We can see a break-up of our income, investments and expenditure whenever we wish.
A person can also generate his/her Income Tax Return form on his/her desktop, ready for submission at the
Income Tax office. Myiris plus has detailed contextual help which appears on one side of the screen as we
are using the software. In addition, this user-guide will see us through the entire process of creating our
profile, updating our bank, credit card, mutual fund, equity and other investment records and finally
computing our tax and creating our Income Tax Return form.
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PROJECT TITLE

“CREATING DISRIBUTION CHANNEL OF A

FINANCIAL SOFTWARE”
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DESCRIPTION

 Nature of work:
As the title of the project gives an idea about type of work i have to do throughout the summer training
is creating distributors in the given territory. The product was totally new in the market and there was a
lack of awareness about the product between the consumers. The name of the product is “Myiris Plus”.
It is a personal finance software for retail investors or you can say for every person living in this era of
technology and lack of time. The software maintains one’s all financial accounts in one screen. It
analyses all types of financial accounts and generates reports according to the provided data. It helps in
making you financially secure tries to give an overview of one’s entire finance. It also helps in
planning your finances better.
The work I had to do is to create distribution channel for the company. But the fact that as I was more
on the field so it was a kind of on-job-training for me. Me with my two college mates were given
hometown (Jamshedpur) for our training purpose as we were well accustomed with the area and the
type of market that prevails there. I used to call up the financial advisors present in the area and fix
appointment. There after I used to go to his place or office as there very few financial advisors have
offices of their own and give them a complete demonstration of the product. And then if he/she liked
the product then I proceed further in closing the deal. And thereafter comes the documentation
formalities.
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At first I have to sell at least two copies of the software to the F.A to make him an authorised
distributor there. There was another option also as that a person can be a channel partner of the
company or a franchisee where he can be a sole distributor and then he can create his channel there
under his behalf. But there can be only one franchisee or channel partner in one city. And there can be
numerous distributors in one city. Here a channel partner can work as a middle man between the
company and the distributors.
So my job was to create Distributors and if possible then Channel partners.

 Goals and Objectives:

The main objectives of this project are:

I. To analyse how many people are aware of financial software.

II. To create consumer awareness and provide knowledge about how financial software’s can help
them in maintaining their financial data and in planning.
III. To understand the financial software market.

Scope of the project:

The scope of this project can be broadly classified into two categories:
I. Product wise scope
There are two main products under Financial Software.
a. Personal finance software.
b. Commercial finance software.

II. Geographical area wise scope

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The area covered by me during these six months of project was the entire Jharkhand as well as
Bhubaneshwar and Kolkata. The major areas in Jharkhand were (Jamshedpur, Ranchi, Bokaro,
Dhanbad, Etc)

METHODOLOGY
Research methodology is a systematic and intensive study directed towards a more complete knowledge
of the subject studied. Its purpose is to find answer to question through the application of the scientific
method.
The method or entire procedure involves carrying our research for specific purpose, research is thus and
make for its advancement. The purpose of research is to discover answer to question through application
of scientific procedures. Research always starts with a questions or a problem.

Method of data collection:

The data was mainly collected through primary sources like Questionnaire and Interview. Apart from
primary sources some of the data were also collected through secondary sources like Brochures, Ensure
(magazine of Iris Business Services India Private Limited ) and Internet.

Sampling used:
Non-Probability sampling
♦ Judgmental sampling
♦ Convenience sampling
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Judgmental sampling- in this process, sampling is done on the judgement of the researcher. The inclusion
and exclusion of the sampling units is based on the judgement of the researcher.

Convenience sampling- in this method, sample is selected according the convenience of the investigator.
In convenience sampling method, for the selection of the sample no scientific planning is done. In
convenience sampling the selection is unsystematic, careless and accidental.

DATA ANALYSIS
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Accomplishments
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Analysis Of The Project Result

 Analysis of my performance:

The overall experience was very good as working under such a good brand is always helpful. As
product has a very niche market so convincing people was a bit tough at first but later on as the
days passed I got experienced and with the help of my boss ended up in doing a good business.
The sales target that was given to me was 30 copies of the software in minimum or 16 distributors
that I have to achieve within six months of my training. And I achieved more than the target and
ended up in selling 60 copies of the software and eventually made 3 distributors and 1 channel
partner. And this was the first time in the history of the company any person had made a channel
partner and sold the copies in a bulk of 50. This was later appreciated by the M.D of the company
Mr. Swaminathan and Product head Mr. Hassan Wangade.

 Three Primary Strengths

• Resilience
• Team Player
•

 What I did well & areas i would like to develope

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What I did well was getting appointment from the people as it was the first step of my job and it is
the toughest one. But somehow I always made people to give me an appointment. And then it
becomes easy for me to persuade them to buy the product. And one more thing I was good at and
that is pitching the sales pitch.

The area I would like to develop within me is my communication skills. I need to be more fluent in
English, and i need to be more presentable while talking to customers. These are the few areas
where I need to develop.

CONCLUSIONS
In this project I had to contact the clients to know about the Consumer Awareness of Personal financial
software of Iris Business Services India Pvt Ltd. The survey was conducted through a questionnaire in
Jamshedpur region and it had 17 odd questions which helped me to come to a conclusion. After the survey
I found that many people were aware of Personal finance software but they were mostly using free sites
like moneyconctrol.com or valueresearchonline.com. The market is undoubtly dominated by these free
websites where people get there required reports. The higher middle class people were interested and were
targeted for these software as they are computer literate and they are prone to new technology. Company
was mostly targeting salaried people as these people work in office in front of a desktop or laptop and they
get very less time for maintaining their personal finance. But the company should come out with some
plans which were exclusively meant for business class. The product which Iris has is generally for urban
population and it’s not meant for rural population. People are not aware of finance software. The finance
software market is very huge, only around 10% of the market has been explored and 90% is yet to be
explored. So the company has great potential in future to reach to the top.
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RECOMENDATIONS
1) Company should try to concentrate on commercial software for the financial advisors by
bringing some products exclusively for them.
2) Company should try to create some awareness about Financial Planning.
3) Low income people should also be targeted.
4) Company should try to market their product in rural areas also as people are not aware
about it and has not been touched yet.
5) Company should try to create satisfaction among consumers
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BIBLIOGRAPHY

1) www.myiris.com
2) www.m3.myiris.com
3) www.irisindia.net
4) www.google.com
5) Brochures
6) Questionnaire
7) Research methodology by C.R. Kothari
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ANNEXTURE

1) Name –
2) Address –

3) Age –
4) Occupation –  Student  Service  Business
 Profession  Housewife  Others

5) Income (per annum) –

a) Below 1,00,000 
b) 1,00,001-1,50,000 
c) 1,50,001-2,50,000 
d) 2,50,001-4,00,000 
e) Above 4,00,000 

6) No. Of members in the family –

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7) Have you heard about Myiris Plus?

Yes –  No – 

IF YES

8) From where you have heard about Myiris Plus?

a) Friends 
b) Newspapers/Advertisement 
c) Financial Advisors 
d) Any other source –

9) Do you know Iris Business Services offers Myiris Plus?

Yes –  No – 

10) Do you have any Financial Software?

Yes –  No – 

11) If yes then Software of which company?

a) Iris Business Services 
b) Easy life 
c) Adit Microsys Pvt ltd 
d) Any other –

12) The software you have use is Desktop based or Internet based?

13) Since when you are using this Software?

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14) Are you aware of AMFI?

Yes –  No – 

15) Are you satisfied with the software you have?

a) Highly Satisfied 
b) Satisfied 
c) Not so Satisfied 
d) Highly Dissatisfied 

16) Have you taken the software for financial planning or for maintaining financial accounts?

Date: - Signature of the respondent