Chennai, India
June 20, 2011

Sundaram Infotech Solutions Limited, the IT subsidiary of Chennai- based Sundaram Finance Ltd, has announced the launch of its small business financial management solution, SmartLend Lite, to be offered as a Software –as –a –service (SaaS) product for non-banking financial companies(NBFCs)

The solution built on the Microsoft Dynamics NAV Platform to integrate with MS Office and other Window-based application, would be offered to NBFCs for rental through monthly subscription based on the number of users.

It would cater to small and medium NBFCs that prefer a pay-per-use model for implementing a financial management solution, said Malli J Sivakumar, CEo, Sundaram Infotech.

"We believe that the lack of high initial investment into our software solution will be an attractive proposition for NBFCs. The SaaS-based offering will provide these NBFCs with software support to euip them with the capability to handle loans, hire purchase and lease and deposits", Said Sivakumar.

Cloud lately has been the talk of the town. Sundaram Infotech with its rich experience in serving the NBFCs through its Smartlend Line of products now takes its lending software solution on cloud. Sundaram Infotech has been a major player in South India and through such aggressive marketing activities intends to enhance the company’s brand value and gain prime exposure to Financial services portfolio in other parts of India as well.

According to Forrester research, the global cloud computing market will grow from a $40.7 billion in 2011 to $241 billion in 2020. With this launch of Lending solution as Software–as-a-service, Sundaram Infotech looks forward to strengthen its position in the market as one of the leading providers of business solutions on cloud.