Hyderabad - November 21, 2011 - Mahindra Satyam, a leading
global consulting and IT services provider, today announced
that it has won EMC 2012 Partner Innovation Award for its
outstanding Industry Solution for Financial Services -
ProFinA. This award recognizes excellence and
innovation in a select group of partners who develop
solutions based on EMC offerings for the Financial Services
industry (Banking, Insurance, Investment Banking & Capital
Markets) that help customers drive business and operational
efficiencies, manage compliance issues, and enhance customer
centricity. Mahindra Satyam was presented this award at
the EMC Partner Conference at Momentum Berlin on October 31,
2011.
ProFinA is Mahindra Satyam's innovative solution to
manage the multitude of complexities involved in Project
Finance Approvals.
Project finance is the preferred financing method for
large-scale, high-value projects for various infrastructure
(Oil & Gas, Ports, Airports, Power, Telecommunication) and
non-infrastructure (Engineering, Textiles, Tourism &
Hospitality, etc) projects. The Project Finance market is
growing at a rapid pace. But there are very few software
solutions which address the entire process of project finance
from end-to-end.
ProFinA is a next generation comprehensive Project
Finance approval solution that manages all aspects of Project
Finance from enquiry to disbursement. It combines document
management, workflow management and real time project
monitoring - all on a single unified platform.
ProFinA is powered by EMC Documentum xCP which is a
leader in the Case Management category of software
product.
"EMC is pleased to recognize Mahindra Satyam for its
innovation and excellence in developing an end-to-end
solution based on EMC Documentum xCP. The ProFinA (Project
Finance Approval) solution combines case management and
capture technologies from EMC with Mahindra Satyam's domain
expertise in banking to deliver a solution that can reduce
turnaround times for approval processes by 60%."
said Chris McLaughlin, Vice President, Worldwide Channel
Sales & Alliances, Information Intelligence Group, EMC.
"Mahindra Satyam has developed a new solution for
managing the project assessment approval, disbursement and
monitoring process of large Infrastructure projects
which are on the rise globally, particularly in
ASEAN, APAC markets, including India. We found EMC
Documentum xCP to be a suitable product to develop ProFinA,
to cater to needs of a complex function which is intense on
document management, workflow, case management, and
communication and reporting. Our expertise in the
Banking & Financial Services domain combined with our
technology expertise in leveraging the functionalities of
Documentum xCP has resulted in a unique service offering. We
thank EMC for this award under the category "Most Innovative
Solution in Financial Services segment." said
Sriram Krishnan, Senior Vice President, Content & Process
Management, Mahindra Satyam.
With unique differentiating features like centralized
repository, best of breed security quick deployment,
ProFinA addresses the Project Finance process from
funding enquiry, Project Finance Request creation, Internal
Project Finance Consultation through Financial Modeling &
Risk Assessment, Sanctions & Signoff. The large Project
Finance software solution market is sure to see the positive
impact of ProFinA, a one stop solution delivering
results in all business areas.
About Mahindra Satyam
Mahindra Satyam is a leading global business and information
technology services company that leverages deep industry and
functional expertise, leading technology practices, and an
advanced, global delivery model to help clients transform
their highest-value business processes and improve their
business performance.
The company's professionals excel in enterprise
solutions, supply chain management, client relationship
management, business intelligence, business process quality,
engineering and product lifecycle management, and
infrastructure services, among other key capabilities.
Mahindra Satyam is part of the $12.5 billion Mahindra Group,
a global federation of companies and one of the top 10
business houses based in India. The Group's interests span
automotive products, aviation, components, farm equipment,
financial services, hospitality, information technology,
logistics, real estate and retail.
Mahindra Satyam development and delivery centers in the US,
Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China,
Malaysia, Singapore, and Australia serve numerous clients,
including many Fortune 500 organizations.
For more information, see www.mahindrasatyam.com
For clarifications, write to us at: MediaRelations@mahindrasatyam.com
Safe Harbor
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. The forward-looking statements contained
herein are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
reflected in the forward-looking statements. Mahindra Satyam
undertakes no duty to update any forward-looking statements.