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Sankar Radhakrishnan

Thiruvananthapuram, Feb. 2 SunTec Business Solutions, which develops relationship-based billing and pricing software solutions for several sectors, is enhancing its offering in the utilities and insurance segments.

The company is venturing into data management solutions for utility companies that use wireless meters, Mr K. Nanda Kumar, President and CEO, SunTec Business Solutions, told Business Line. Utility companies are now switching to wireless meters and this requires new billing and pricing systems, which is where SunTec comes in, he pointed out.

The company is in the process of launching a pilot project in this area with a company in India. SunTec already has a product for wireless-meter data management, he added.

Similarly, the company is expanding its presence in the insurance sector with a risk-based pricing solution. SunTec is in discussions with some insurance companies on implementing this solution, he said. While pricing and billing solutions for the retail sector are on the company’s radar, it is not planning an immediate entry into this segment, he added.

Over the next three-six months, the company plans to raise some additional funding, said Mr Nanda Kumar. This funding is likely to be in the region of $15 million. An IPO, while being considered, is not likely over the next two years, he added.

With a development centre in Thiruvananthapuram and a centre in Bangalore, the company is looking at the possibility of one more software development centre in another location, he said. However, no location has been identified for this, he added.

There is growing interest in the company’s products for the banking, financial services, insurance and communications sectors. Therefore, the emphasis over the next few months is on winning a large number of clients. SunTec expects to announce several client wins very soon, he added.

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