MMFSL, after a through analysis of various software vendors, chose Sundaram SmartLend to develop an integrated lending solution that could completely handle its lending operations and still be scalable in order to meet its growth rate and volumes.
Overview
Country: India
Industry: Financial Services
Corporate Brief
Mahindra & Mahindra Financial Services Limited (MMFSL) is one of the largest asset financing companies in India with a turnover of over INR.1609 crores [over USD 320 million approximately].
Mahindra Financial is a part of the Billion Dollar Mahindra & Mahindra Group of Companies.
MMFSL is based in Mumbai, India and conducts its business operations from over 190 branches in India. The annual growth rate in the year 2004-2005 was approximately 38%.
Existing Problems
MMFSL initially managed its business operations with a Fox-Pro based system. Initially some of the problems it faced with its existing applications were as follows
- Inconsistency in data
- Inability to scale up to business volumes
- Inability to respond to the changes in the business scenarios
- Lack of support for technology and application software and
- Disparate application systems.
Requirements
MMFSL required an integrated lending solution that could completely handle its lending operations and still be scalable in order to meet its growth rate and volumes.
Solution
MMFSL, after a through analysis of various software vendors, chose Sundaram SmartLend.
At Sundaram, we automated the following business operations after the installation of SmartLend
- Application Processing & Credit Appraisal
- Lease Creation and Initiation
- Delivery Order Processing (Provisional Confirmation and LPO)
- Disbursements
- Trade Advance Management
- Debt Collections
- Collections Management
- Agreement Maintenance
- Customer Servicing
- Agreement Closure
- Agreement Accounting
- MIS and
- Statutory Reporting
For More Information
For more information about Sundaram Infotech’s Enterprise Solutions products and services, call +91-44-28604066, or visit www.sundaraminfotech.in
Contact Information
901-906, Raheja Towers
177, Anna Salai,
Chennai – 600002
India
http://www.sundaraminfotech.in
E-mail: info@sundaraminfotech.in
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