Sundaram Business Services bags multi-year deal from Australia firms

CHENNAI: Sundaram Business Services, the BPO subsidiary of non-banking finance company, Sundaram Finance has received a three year deal from two accounting firms in Australia.

"Sundaram Business Services has bagged three year BPO (business process outsourcing) deals from two Melbourne- headquartered firms relating to back office Pension Fund Administration services to be delivered out of Chennai facilities", the city-based company said in a statement.

"Both these several decades old accounting firms have a strong presence across Australia", the statement said without disclosing the name of the Australian companies.

Sundaram Business Services from its offshore BPO facilities in Chennai and Mumbai, offers back office services in Pension fund administration, accounting, lending and portfolio management as well as hospitality, it said.

"We expect two more such deals in the near future in the Pension Fund Administration space. Our plan is to hire 100 people with an accounting background within the next quarter for our back office operations for the Australian customers", Sundaram Business Services, CEO, Rajesh Venkat said.

In addition to these two multi-year deals, Sundaram Business Services also bagged two more deals for back office services in the portfolio management and unit registry space, both from Australian firms, the statement added.

The Australian market contributes to over 50 per cent of Sundaram Business Services' overall BPO business and the company expects to double its business from Australia in the next three years, the statement said.