Dorado Names Ravi Balwada Senior Vice President of SaaS OperationsDorado Names Ravi Balwada Senior Vice President of SaaS Operations
Industry veteran led On Demand operations teams at Oracle, SumTotal
San Mateo, California – (May 19, 2010) —Dorado Corporation, a leading provider of collaborative cloud computing applications and architecture to the financial services industry, announced today that Ravi Balwada has joined its management team as senior vice president of worldwide software-as-a-service (SaaS) operations.
In this newly created position, Balwada will be responsible for all aspects of Dorado's cloud computing-based mortgage origination operations, overseeing the expanding functionality of the company’s core LOS service offering and an increasing number of complex third party integrations.
An expert in developing and managing sophisticated SaaS implementations, Balwada brings nearly two decades of technology management experience to Dorado. Most recently, he served as chief information officer (CIO) and vice president of On Demand Operations at SumTotal Systems, where he helped set strategic direction for the managed services and SaaS related initiatives of the company. Prior to SumTotal, Balwada managed global operations for Oracle On Demand. At Oracle, he spearheaded the commercial development and transformation of On Demand operations into an adaptive, scalable and highly optimized operating platform, serving enterprise applications on-demand and as a service.
Before Oracle, Balwada was a vice president at The Carlyle Group's technology venture capital fund, where he focused on investing in early stage technology companies in Greater China, India and Korea. Prior to that, he led the systems operations group at Amazon.com, where he helped develop that company's industry-leading technology architecture and operational infrastructure in support of high volume online commerce.
"Ravi's extensive and successful track record in the management of enterprise-level SaaS systems, and in the operational aspects of mission critical managed services will be an invaluable asset to Dorado," said Dain Ehring, chief executive officer at Dorado. "We are dedicated to continuing to provide our customers with the most robust mission-critical SaaS solutions available, and Ravi's expertise will help us continue to exceed expectations. His knowledge and experience will also provide a value-added dimension to the team as we expand both the depth of Dorado's SaaS and PaaS [platform-as-a-service solutions], and the breadth of our cloud-based offerings for consumer lending."
The new position is an organic outcome of the growing volume of transactions running over Dorado's cloud computing-based loan origination system (LOS) service, an increasing number of development partnerships, and the company's expansion into new business areas for the transparent and seamless delivery of electronic loan information to servicers, investors and other constituents.
Balwada holds a bachelor of engineering degree from Birla Institute of Technology, one of the top science and technology schools in India.
About Dorado Corporation
Dorado Corporation is a leading provider of collaborative cloud computing applications and architecture to the financial services industry. The company offers fully automated on-demand solutions for managing and tracking complex network integrations and data-intensive transactions for financial institutions. Dorado's marquee ChannelMaster™ mortgage loan origination system and PriceMaster™ pricing engine, enable financial institutions to run and centrally monitor the consumer lending process from lead generation through post-close. Along with the benefits of cloud computing applications—increased functionality and dependability with minimal capital costs, flexible configurations, rapid deployment and agile performance—Dorado's customers also gain competitive advantage via production workflow enhancements, better control over the product mix and built-in compliance. The company's pay-for-performance model also provides a more predictably priced alternative to single-point solutions, closed systems and internal development. Dorado was named a "Hot Banking Technology Company to Watch" by Forrester Research in 2009, and has been a Top 50 Mortgage Technology Provider since 2005. Dorado's customers include tier-one mortgage lenders, leading regional banks and growing financial institutions in the U.S. and Canada.