SBS acquires BPO firm PMC

CHENNAI, INDIA: Sundaram Business Services Ltd., (SBS) the BPO arm of Sundaram Finance Ltd, has announced the acquisition of the major stake of Chennai based BPO Company Professional Management Consultants (PMC).

PMC specializes in the banking and financial services employing over 800 workers in Chennai.

SBS focuses on non-voice back office support services, which mainly deals with high end accounting services, credit processing, deposit processing, employee administration and insurance related services.

Briefing the media about the acquisition, T T Srinivasaraghavan, managing director, Sundaram Finance Ltd, said "by the acquisition of PMC our strength has been doubled and expected to grow by 30 percent in the coming years."

"Here now onwards Company will be having 35 clients adding up another 6 client to the list. In house Service would be 15 percent rest would be of external. Where as PMC will remain as legal entity" he added.

"Our pace of growth is bit slowly in this sector, because we are not going aggressively into US market, which happens to be the largest. Primarily company is focusing on domestic market as well as looking at Middle East" he informed.

"SBS has based its platform on servicing the big domestic outsourcing market and its service offering has a strong grounding on 'do what you know best' philosophy. This marriage combines SBS' strong presence in Insurance and Accounting outsourcing with PMC's capabilities in the Banking and FS outsourcing space, specifically in credit card and retail loan processing, thus making the combined entity one of the strongest BPO players in the domestic market, specializing in the BFSI space," said S. V. Krishnamurthy, president and chief executive officer, PMC.