SunTec Business eyes 150% turnover growth

SunTec Business Solutions Pvt Ltd (SBS), a Thiruvanathapuram-based information technology company, hopes to post a 150 per cent rise in turnover this fiscal.

SunTec, with an annual turnover of Rs 13.50 crore, specialises in convergent transaction billing solutions.

SunTec, apart from its research and development centre at Technopark, Thiruvanathapuram, has offices in the US (Virginia), UK, Germany and Singapore.

The company hopes to meet the turnover target through a strategy centred on the financial services industry in Europe and Asia-Pacific region. It will also focus on the telecom industry in the US, Asia-Pacific region and Europe.

SunTec chief executive officer K Nandakumar told Business Standard that the strategies to achieve the growth target include "consolidating our position in Europe with a crux to develop a strong sales and marketing base" in addition to customer support infrastructure.

"Moreover, our marketing and sales teams are increasing their global reach both directly as well as through partnerships with foreign allies. We are also working towards the strengthening of our product and services portfolio as part of a brand building effort," he added.

With the deregulation of the financial and telecom sectors, there seems to be immense scope for solutions providers in the areas of customer care and billing.

This offers tremendous growth opportunities, especially in the backdrop of convergence and its varied facets, Nandakumar said.

Claiming that SunTec was the first solutions provider in the banking sector to come up with a product for transaction-based pricing at the micro level, he said in the telecom sector, too, SunTec is one of the first companies to have understood the importance of a cost-effective support system for managing interconnect operations.

Pointing out that more than 80 per cent of the Indian telecom network owned by the Bharat Sanchar Nigam currently runs on SunTec billing solution, Nandakumar said, "Over 14 major customers in Europe with diverse business requirements use SunTec TBMS (transaction business management system) solution. The company has already bagged a couple of major installations of its interconnect billing product, TBMS-IAA (transaction business management system - inter admin account) in the Asia-Pacific region."

He said SunTec will start planning for an initial public offer from the end of this financial year.

Schroder Capital Partners, a venture capitalist and a global leader in asset management with $166 billion under management and 41 offices worldwide, has already invested $4 million in SunTec to boost its operations.