Allsec deal with Compucredit
Allsec Technologies Ltd (ISO 9001-2000 certified), one of Chennai’s earliest contact centre and BPO service providers, has signed a strategic relationship with Compucredit Corporation, a publicly traded (NASDAQ: CCRT) multi-billion, IT-driven provider and direct marketer of branded (VISA & Mastercard) credit cards headquartered in Atlanta, Georgia, US.
Allsec Technologies delivers high-quality services to international customers. Today, Allsec is 1,200 employee-strong and growing and delivers several unique processes to a marquee set of clients.
The founder promoters, Adi Saravanan and Ramamoorthi Jagadish, lead a team of professionals with diverse backgrounds and domain skills providing BPO services to global markets with special focus on processes and quality. Customer acquisition and retention have been key to Allsec’s growth over the years.
Adi Saravanan, president, Allsec
Technologies, said Compucredit is a large issuer of credit cards in the US and specialises in the underserved sector. They also have a great track record in acquiring and managing portfolios successfully.
Saravanan further mentioned that “Compucredit is one of Allsec’s earliest clients (from early 2001) and our relationship has now matured into a strategic partnership. This is the result of the sustained quality delivery that Allsec had rendered and proves the theory that quality is the ultimate differentiator and once a provider is able to deliver consistent quality there is no problem in acquiring and retaining clients”.
On CCRT’s existing processes, he said, “We employ more than 500 people today and this is growing.” This relationship, which is strengthened by the agreement, is expected to bring in minimum revenue to Allsec in excess of $ 30 million (Rs 130 crore) in the next three years.
K K Srinivasan, chief credit officer of Compucredit, adds, “We have had a great relationship since 2001 with Allsec who have been delivering high-quality services and we chose them for this partnership after a thorough search. CCRT and Allsec have worked together to create a unique platform to manage consumer
loan portfolios. For the first time, we are able to bring together analytics, telemarketing, portfolio management, customer service and collections to create an integrated approach to managing a customer through the complete credit lifecycle.”
Srinivasan added that such an approach “will not only utilise the resources efficiently but also maximise the value of the portfolio that is being managed. This is a unique offering in the US market and the initial response from clients has been very promising and indicative of a tremendous market potential.”
He also said the combined offering has never been done before and he sees a huge opportunity for any client with a large retail credit portfolio to immensely benefit from this unique offering.
Jagadish Ramamoorthi, CEO, Allsec
Technologies, said apart from direct revenue, this venture will also bring in the ability for CCRT and Allsec to jointly offer a range of services to the financial services market primarily in the US and in the UK, a unique service offering to manage portfolios leveraging on the portfolio management expertise of
Compucredit.
He added, “CCRT’s expertise in analysis and management of the client portfolios combined with Allsec’s strengths in delivering contact centre services and back office processes and at cost-effective pricing will provide a unique service offering which till now has never been done.”
Ramamoorthi also added that this provides a platform for Allsec to provide value-added services in the collections
business, which is huge, niche and untapped in a big way till now only because of the lack of domain skills in the portfolio management business. Allsec, he said, will be the first company to offer such highly value-added offering in the collections area from India.
