Providing software solutions since 1976
Providing software solutions since 1976
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SAS eyes risk mgmt for growth - March 15, 2003 The $1.1 billion provider of business intelligence (BI) solutions, SAS plans to focus on the telecom, pharma and retail segments in India. The company will also look to broaden its service offerings by providing risk and financial management solutions to customers in India. Mr Gourish Hosangady, CEO and managing director, SAS India, said spending in the financial services space is expected to increase in the risk management category. This would happen because banks globally have to comply with the Basel II regulations. Basel II norms are intended to improve the safety of the financial system by aligning capital adequacy assessment more closely with the underlying risks in the banking industry. Companies are also using financial management solutions to keep in line with increasingly stringent disclosure norms. Several acts such as the Sarbanes Oxley Act of 2002, passed in the US enterprise to enable companies to substantial potential for the firm. The cellular subscriber base in India is expected to touch 10 million users by year-end and is likely to expand four-fold by 2006. He also said spending by financial services sector is expected to increase, with firms dedicating around 10 % of their budget to IT requirements. Mr Hosangady said companies operating in these fast-growing segments are likely to require solutions to mange churn, marketing campaigns, and also provide enhanced levels of customer service and risk management. According to a Nasscom market intelligence report on BI, this market is expected to reach $12 billion in 2006 representing CAGR of 43%. |
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