Signs News Outsourcing Deals in Australia
The company, which already has a strong presence in Australia, with 200 people in Chennai servicing over 30 Australian customers, has recently signed two new outsourcing deals in Australia and is targeting to grow its Australian business by 50% this year.
SBS has signed a deal with a Sydney based company to undertake mortgage processing work from India. In a separate deal with a Melbourne based research firm, the company will undertake high end equity research back office work. SBS has also bagged deals with several new pension fund administrators and accountants across Australia.
To double Australia Business
These deals are significant in that they are expected to double the company’s Australian business in the coming years.
Sundaram Business Services provides back office services for administrators of Self Managed Superannuation Funds (SMSF) as well as book keeping and portfolio management back office services.
Expansion into New Verticals
While the focus is on helping these existing customers grow through greater efficiencies and a wider product offering, SBS is targeting new verticals. Over the last year, the company has expanded its offering in the Australian BPO market to services such as mortgage processing, equity research, and data capture services for financial planners.
Commenting on the Australia Expansion, Rajesh Venkat, CEO, SBS said, “We plan to consolidate and strengthen our dominant position in SMSF vertical, while at the same time focus on growing and establishing a strong presence in our newly launched services like mortgage processing, portfolio management, equity research and virtual CFO services.”
Faster Turnaround time for Customers
SBS’s offshore services have helped Australian customers improve their turnaround times. The company’s rigorous metrics have ensured that the customers have visibility on what is working well and what is not, enabling better decision making within their own business.
On prospects for SBS in the Australian market, Rajesh Venkat said, “Australia is a market that emphasizes a “Walk the Talk” philosophy. While it takes a longer time to build confidence with customers and to grow in this market, we believe it is stable for those with a long term perspective. We are confident that the credibility we have established with our strong reference-able client base over the last 8 years and the on–the-ground marketing support we are creating in Australia will help us achieve a healthy growth.”