Business News

Sundaram to expand activities

SMSF offshore administration provider Sundaram Business Services (SBS) is looking to build upon its presence in the Australian market by supplying more client offerings.

In conjunction with establishing new services, the process outsourcing firm is also aiming to increase its existing client base of around 50 in the domestic market by seven to eight new clients over the coming year.

The two initiatives are expected to double the revenue of SBS from the Australian market across the next three years.

The announcement of its future plans comes as the company celebrates a decade of operation in this country.

“SBS has established a strong presence in Australia over the last 10 years. Australia continues to be a growth market for SBS,” SBS chief executive Rajesh Venkat said.

“Their focus will be to help existing customers grow through greater efficiencies and a wider product offering. Simultaneously, SBS will be looking to deepen its presence in new verticals.

“The SMSF segment in Australia makes up the largest proportion of superannuation assets and is growing at a healthy pace of close to 10 per cent year on year. SBS, which is the largest offshore service provider in this segment, is looking to strengthen its presence in this space.

“We are constantly upgrading our expertise. Aside from business process outsourcing services, we now provide process improvement consulting services to our clients.”

Pension fund accounting, and finance and accounting are two specific areas in which SBS will increase its market presence in Australia.

SBS was one of the first organisations to offer business process outsourcing services in this market.

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