Sundaram Infotech Solutions, the IT subsidiary of Chennai-based Sundaram Finance Ltd, has announced the launch of its financial management solution, SmartLend Lite, to be offered as a software-as-a-service (SaaS) product for non-banking financial companies (NBFCs).
The solution, built on the Microsoft Dynamics NAV platform to integrate with MS Office and other Windows-based applications, would be offered to NBFCs for rental through monthly subscription based on the number of users.
It would cater to small and medium NBFCs that prefer a pay-per-use model for implementing a financial management solution, said Malli J Sivakumar, CEO, Sundaram Infotech.
"We believe that the lack of high initial investment into our software solution will be an attractive proposition for NBFCs. The SaaS-based offering will provide these NBFCs with software support to equip them with the capability to handle loans, hire purchase and lease and deposits," said Sivakumar.