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Manappuram Finance signs IT deal with IBM

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CIOL Bureau
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BANGALORE, INDIA: IBM on Thursday announced that Manappuram Finance, a credit-rated gold loan company, has engaged IBM in a 10 year multi-million dollar deal to transform its IT systems in support of its growth plan.

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The IT services deal will also ensure Manappuram delivers superior customer service in a highly commoditized market, said a press release.

IBM will build and manage the entire IT infrastructure for Manappuram and deliver application transformation benefits through the implementation of leading business solutions in the areas of Finance, Human Resource Management, Business Intelligence Collaboration tools and Document Management.

Manappuram Finance made the strategic decision to strengthen its IT system to speed up their go-to-market time, enhance productivity, and increase efficiency resulting in competitive advantage. V.P Nandakumar, chairman, Manappuram Group of Companies, said, “We intend to keep growing rapidly and this engagement with IBM will bring in the required technology skills and industry expertise we need to meet the demands of hyper growth and quicker disbursal of the gold loan. We are confident IBM’s understanding of our requirements and strong delivery capabilities will ensure we get the support we need to realize our growth plans.”

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IBM’s relationship with Manappuram started in 2009 when the company engaged IBM for an IT strategy project to support their rapid growth plans. IBM helped Manappuram identify and address gaps in their business processes and IT systems, risks (and how to mitigate them), areas for operational efficiency and business process transformation.

IBM also prioritized and recommended a roadmap to build a strong technology platform, architecture and landscape to drive the business growth of the company. Manappuram decided to partner with IBM, over other service providers, based on IBM’s proven track record in creating a robust IT environment essential for long-term business objectives.

“IBM will deploy technologies, processes and best practices to enable Manappuram Finance to focus on its core business and offer a superior customer experience,” said Sriram Rajan, VP - South, IBM India/South Asia.

“We strongly believe that by partnering with IBM for its IT needs, Manappuram will be better positioned to respond to the changing market and customer demands,” he added.