SapphireIMS is betting big on smaller banks

by Sohini Bagchi    May 22, 2013

shafi ahamed

Smaller banks are often faced with challenges related to cost and resource. At the same time, they are expected to compete with the robust infrastructure of their larger counterparts, so as to attract and retain customers. In such a scenario, they look for smaller vendors, who can customize their products to suit their business requirement while at the same time, offer them similar functionalities at a much lower cost. One such vendor, SapphireIMS, a provider of end-to-end IT Service Management solutions to small and mid-sized companies is strengthening its focus on the BFSI segment, especially on the smaller players in the banking industry.

In an exclusive interaction with CXOtoday, Shafi Ahamed, CEO & Co-founder, SapphireIMS informed that in the coming months, the company will come up with innovative Infrastructure management solutions that can be used in a distributed IT environment, such as in banking. These solutions will address the challenges of low bandwidth connections to remote offices and result into timely software updates.“Infrastructure management tools have great relevance to the banking sector to ensure smooth business operations. As a result, banks are increasingly going in for trusted vendors for managing assets against utilization and compliance,” said Ahamed.

According to Ahamed, the company’s ITIL v 3.1 certified SapphireIMS product incorporates service desk, asset lifecycle management, business services monitoring and IT Services Automation and the company is planning to upgrade its features. “The new and existing features can help BFSI customers in ensuring predictable service operations, seamless asset management and monitoring of critical business services.” For example, the company has recently added security features in its SapphireIMS banking portfolio that can monitor compliance to organization security policies.

Very recently, the company has also launched SapphireIMS Asset Management suite that can help banks and other enterprises orchestrate their day-to-day operational activities associated with assets, dynamic inventory collection and centralized management of these asset.

Speaking about the geographically distributed nature of the sector and the challenges of low bandwidth connectivity, Ahamed stated that automated IT operational tasks like patch management may become a challenge and this is one area the company is working on diligently.

The company is also venturing into ATM management in the next one year and is looking to acquire a number of banking customers – both in India and overseas market - to manage their business IT service operations. “Recently we acquired our first customer in Philippines which is a mid-size bank to mitigate depreciation and maximize ROI of assets,” said Ahamed.He further informed that the company is also launching its cloud offering to cater to the needs of SMEs in the banking sector in the next few weeks and expects to garner over 50 per cent of its revenues from the banking segment in the next one year.