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SunGard upbeat on Indian market

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CIOL Bureau
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MUMBAI, INDIA: For SunGard, the global software and IT services firm, said its strategic move to ramp up India operations last year has really worked out well. The move has helped the firm to add some 25-30 new clients across verticals taking up its tally to around 45.

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“We have successfully acquired some 25-30 clients in last one and a half year out of the total 45 customers in India. We saw a good amount of traction across verticals for our solutions for banking, financial services, insurance, wealth management, power and stock trading and others,” said Atul Sareen, SunGard managing director — India.

Though SunGard has been in India since 1993, the firm strategically expanded its operations in June last year with Sareen taking charge as managing director of sales for financial systems business. Also, new sales and business development teams were added in India.

According to Sareen, the company faces competition in the Indian market; however it is very diverse and not direct. “We see a cross board competition in vertical specific areas but with our range of solutions we have performed well and over came the competition,” he added.

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Oracle, Financial Technologies, Triple Point Technology and few software companies closely compete against SunGard in the financial space. Apart from financial sector, the Pennsylvanian headquartered firm provides technology services and software processing solutions for higher education, public sector, infrastructure and availability services.

Out of 5000 staffs employed in SunGard Global Services globally, 3000 are based in India. The Global Services is operated across 30 locations, while its 60 percent workforce is based in India that shares around 15 percent of the company’s services business.

According to Mack Gill, SunGard Global Services’ president, while the developed markets such as the US and Europe remained flatter during the slowdown, the emerging markets such as India didn’t see much of the impact and grew steadily.

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For the second quarter ended June 30, 2010, the company posted USD 1.30 billion revenue with a 5 percent slide year-over-year and its income from operations stood at USD 126 million.

“Since we provide services and solutions across verticals, it helps us to diffuse any kind of major financial crisis. However, India remains very significant to our business and Bangalore has the largest headcount for Global Services,” said Gill.

Further, Akila Krishnakumar, SunGard’s Chief Operating Officer (COO) & Country head — India, pointed that business here has grew around 50 percent in the last couple of years and expect it continue in next year too.

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