Sundaram BPO buys Chennai firm

Sundaram Business Services, the BPO arm of Sundaram Finance, has picked up a majority stake in Professional Management Consultants Ltd.

Chennai-based Professional Management is a BPO company that specialises in banking and financial services. It has 800 employees in its Chennai facility.

T.T. Srinivasaraghavan, managing director of Sundaram Finance, said, “In Professional Management, we saw both a business and a cultural fit and this acquisition considerably strengthens Sundaram Business’s ability to offer services across the entire spectrum of banking and financial services,” he said.

S. V. Krishnamurthy, president and CEO of Professional Management, said, “This marriage combines Sundaram Business’s strong presence in insurance and accounting with our capabilities in the banking and financial services outsourcing segment, especially in credit card and retail loan processing. This makes the combined entity one of the strongest BPO players in the domestic market.”

Headcount rise

The acquisition doubles Sundaram Business’s headcount to 1,600. The company also plans to add 25,000sq ft to its Chennai facility. The company also has a presence in Mumbai and Gurgaon.

P.S. Raghavan, executive director and head of the company, said, “We are beginning to see a lot of traction in the BPO market. Over the last six months, we have almost doubled our BPO headcount. Professional Management’s strong customer and employee base provides the right thrust as we enter the next phase of growth.”

Sundaram Business also offers services such as accounts payable and payroll outsourcing. In the payroll division, it has over 8,000 employees. In the accounts payable segment, it handles over 1 lakh transactions annually.

Customer base

The company has over 20 customers. With the stake buy, the company will be able to expand its customer base in India. It is also keen to target the overseas market, including Australia.