i-flex to brand services under PrimeSourcing

It may be the premier software products company from India, but for i-flex Solutions, services is still the preferred route to cross-sell its products and win a majority of its key customers that account for 48% of its overall revenues.

And with the huge opportunity that the services sector promises, i-flex is looking at branding its services practice under the 'PrimeSourcing' business division.

V Shankar, executive VP & Head (PrimeSourcing) of i-flex Solutions said: "Services is a strong and powerful business division accounting for 48% of our revenues, close to the 52% that products account for...The services division is growing at 45% year-on-year (YoY) and hence we are now looking at branding this business to achieve success akin to what we have in the products space."

Focusing on the banking, financial services and insurance (BFSI) vertical, i-flex PrimeSourcing is differentiating itself by offering in-depth domain expertise in corporate banking, investment banking, retail banking, private and insurance banking within BFSI.

With 150 customers spread across Europe, US and Asia, Shankar shared the strategy as, "Working with tier I and tier II banks and running recruitment campaigns with brand and domain specific advertisements."

Domain specialists comprise 20% of the firm's 3,700 member workforce. With centres in Mumbai, Chennai, Hyderabad, Pune and Bangalore, i-flex has announced plans of developing a 10,000 people centre in Bangalore, a campus in Pune, which currently has 500 people and a centre in Chennai for 1,400 people. "We are growing at 1,000 people YoY," Shankar said.

The company also plans to setup development centre for its services in Eastern Europe in 2007. "The centre will begin operations with a 100 people," said Shankar adding that the location for the same was still to be finalised.