Silverline Technologies outlines turnaround strategy

Mumbai, May 23 (UNI) IT major Silverline Technologies will focus strongly on the Business Process Outsourcing (BPO) and IT consulting areas of business through a mix of organic and M&A activities, as a part of its turnaround strategy enunciated by its Chairman Ravi Subramanian.

Informing the Bombay Stock Exchange (BSE) about his company's turnaround strategy, Mr Subramanian said that Silverline Technologies will scout for strategic partnership opportunities worldwide while aiming for quality leadership at all levels.

A key focus area for the company will be negotiating strategic relationships in IT software development and maintenance and product lifecycle management solutions as well as on the customer care and service management and education segments. In customer care and service management, the scope of business will cover help desk, network management, security and applications support.

Another prime business focus segment will constitute Business Process Outsourcing (BPO) in the areas of finance and accounting, legal, HR, engineering and architecture, knowledge management, animation and media and entertainment, the company informed the BSE.

The company will also clear all outstanding issues with its stakeholders, said Mr Subramanian, while pointing out that the company will strive to increase both shareholder value as well as transparency in its functioning.

''We will also concentrate on businesses driven by vertical markets and led by proven leadership in the areas of IT and Business Process Outsourcing,'' Mr Subramanian averred.

Revealing that the company undertook a series of studies prior to outlining the turnaround strategy, he said that the opinion of some of its previous customers, employees and shareholders were also taken into account while finalising the strategy. A professional and scientific study to come up with a series of parameters was also undertaken, he added.

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