Synechron ranks 3rd amongst fastest growing software services companies in the IT segment for the financial year 2005-06-records 137% year-on-year growth rate
Pune, Thursday, 23rd August, 2006:
Synechron, a US-based software solutions and services provider, has emerged as the 3rd fastest growing Software Solutions provider, amongst the top 200 IT providers, as per the annual Dataquest survey for the year 2005-06.
The company has registered a phenomenal 137% revenue growth rate in the financial year 2005-06 over its performance in 2004-05.
Since its inception in September 2001, Synechron has undergone swift evolution in terms of revenue, manpower and delivery capacity, and today it is highly reputed for the turnkey services it provides to the global Fortune 1000 companies in the Mortgage Banking, Capital Markets, Insurance and Internet Media & Technology sectors. The company has rapidly expanded its global presence, and is currently operational at nine locations spread across the US, UK and India. Having recently inaugurated a 1000-seat development centre in Kharadi, Pune, Synechron is now well on its way to tremendous advancement in all the areas.
One of the key factors contributing towards Synechron's success story is its ability to not just acquire new clients, but also to address the dynamic and evolving needs of its existing clients. The company aligns to long-term client goals by offering a unique Strategic Development Center (SDC) partnership model wherein it leverages its offshore presence and global onsite/offshore delivery capabilities, to function as a seamless "extended arm" of its clients. Clients' technology and processes are strategically and operationally replicated in the SDC set-up, which has state-of-the-art technology infrastructure and a dedicated, professionally managed full-time resource team, all operated by Synechron.
The SDC Program is based on a dedicated 'managed' center delivery model, offering enhanced benefits via an efficiently run, fully operational set-up right from day one, with administrative and management support of a well established organization at the offshore location. As emerging trends show a marked shift in the offshoring pattern, the US based IT companies are now looking to set up dedicated 'managed centers' to overcome challenges like prohibitive capital investment costs, start-up & localization demands, and administrative hassles. Such a business model enables Synechron's clients to optimally manage all employee related issues, including talent management, retention, development of a long term intellectual capital base, and to ensure a paradigm of sustainable quality & productivity. This SDC Program has received an excellent response from clients, with the immediate inauguration of SDCs for US industry leaders like Asurion, an Insurance Services major, 24/7 Real Media, a pioneering US based interactive marketing & technology solutions provider, and three others in the pipeline.
Over the last year, Synechron has also made significant inroads into the Business Processing aspects of the Mortgage Banking and Insurance domains via inception of its high-end Knowledge Process Outsourcing services. The KPO offering is a strategic value addition for Synechron's clients, as it allows them to avail a bouquet of services that seamlessly deliver both technology development & business process expertise under the same aegis. Synechron's KPO division has been built upon a solid foundation of turnkey domain knowledge and business-technology services that the company has provided to major players in the areas of Mortgage Banking and Insurance.
With cost pressures mounting in the industry, Synechron has been able to deliver value-added services to reputed financial majors in the US, by transitioning not just their back-end processes and the routine, automated tasks of typical assembly line BPOs, but also one-of-a-kind, domain-specific, complex processes to its offshore center, thereby delivering more strategic, customized services and significant cost-efficiencies, ensuring a higher ROI to clients.
Siddharth Madhusudan for corporate communications
Pune, Thursday, 23rd August, 2006:
Synechron, a US-based software solutions and services provider, has emerged as the 3rd fastest growing Software Solutions provider, amongst the top 200 IT providers, as per the annual Dataquest survey for the year 2005-06.
The company has registered a phenomenal 137% revenue growth rate in the financial year 2005-06 over its performance in 2004-05.
Since its inception in September 2001, Synechron has undergone swift evolution in terms of revenue, manpower and delivery capacity, and today it is highly reputed for the turnkey services it provides to the global Fortune 1000 companies in the Mortgage Banking, Capital Markets, Insurance and Internet Media & Technology sectors. The company has rapidly expanded its global presence, and is currently operational at nine locations spread across the US, UK and India. Having recently inaugurated a 1000-seat development centre in Kharadi, Pune, Synechron is now well on its way to tremendous advancement in all the areas.
One of the key factors contributing towards Synechron's success story is its ability to not just acquire new clients, but also to address the dynamic and evolving needs of its existing clients. The company aligns to long-term client goals by offering a unique Strategic Development Center (SDC) partnership model wherein it leverages its offshore presence and global onsite/offshore delivery capabilities, to function as a seamless "extended arm" of its clients. Clients' technology and processes are strategically and operationally replicated in the SDC set-up, which has state-of-the-art technology infrastructure and a dedicated, professionally managed full-time resource team, all operated by Synechron.
The SDC Program is based on a dedicated 'managed' center delivery model, offering enhanced benefits via an efficiently run, fully operational set-up right from day one, with administrative and management support of a well established organization at the offshore location. As emerging trends show a marked shift in the offshoring pattern, the US based IT companies are now looking to set up dedicated 'managed centers' to overcome challenges like prohibitive capital investment costs, start-up & localization demands, and administrative hassles. Such a business model enables Synechron's clients to optimally manage all employee related issues, including talent management, retention, development of a long term intellectual capital base, and to ensure a paradigm of sustainable quality & productivity. This SDC Program has received an excellent response from clients, with the immediate inauguration of SDCs for US industry leaders like Asurion, an Insurance Services major, 24/7 Real Media, a pioneering US based interactive marketing & technology solutions provider, and three others in the pipeline.
Over the last year, Synechron has also made significant inroads into the Business Processing aspects of the Mortgage Banking and Insurance domains via inception of its high-end Knowledge Process Outsourcing services. The KPO offering is a strategic value addition for Synechron's clients, as it allows them to avail a bouquet of services that seamlessly deliver both technology development & business process expertise under the same aegis. Synechron's KPO division has been built upon a solid foundation of turnkey domain knowledge and business-technology services that the company has provided to major players in the areas of Mortgage Banking and Insurance.
With cost pressures mounting in the industry, Synechron has been able to deliver value-added services to reputed financial majors in the US, by transitioning not just their back-end processes and the routine, automated tasks of typical assembly line BPOs, but also one-of-a-kind, domain-specific, complex processes to its offshore center, thereby delivering more strategic, customized services and significant cost-efficiencies, ensuring a higher ROI to clients.
About Synechron
Synechron is a Global IT Solutions & Services provider with a niche focus on the BFSI (Banking and Financial Services) space with headquarters in New Jersey, global offices in the US, and a state-of-the-art Development Center based in Pune, India. Synechron provides a range of IT solutions with a domain focus in Capital Markets, Insurance, Mortgage Banking and Internet Media & Technology. Services include development, customization, integration, maintenance, support, migration, automation, QA Services and KPO services. For more information visit www.synechron.com.
Siddharth Madhusudan for corporate communications
