Birlasoft launches ADVISIOR+ for wealth managers

New Delhi, Aug 30 (UNI) Reinforcing its expretise and position in the banking, financial services and insurance (BFSI) domain, the IT arm of C K Birla Group, Birlasoft Ltd today launched a wealth management software for the Asia-Pacific market, including India.

Named Birlasoft Advisior+, the product targets investment advising agencies, independent financial advisors, private bankers and financial institutions/brokerage houses offering investment advice.

By using Advisior+, wealth managers can profile there customers to find out their risk profile, perform a wide range of protfolio analytics, make portfolio recomendations and generate attractive proposals.

Birlasoft aims to generate revenue by both direct and indirect means, that is licence selling and cross selling in the form of allied activities like interface developments.

''With Birlasoft Advisior+, company aims at the reveue to the tune of 1-2 million dollars by license selling and 5 million dollars from indirect selling globally in the first year,'' company's Senior Vice-President, Financial Services Group, N K Subramaniyam told reporters here.

The new product has been priced at 5,000-10,000 dollars per wealth manager license in India.

It will officially be launched at the 16th Private Banker International Wealth Conference in Singapore on September 13-14, 2006, he said.

Birlasoft Advisor+ will be positioned in the Indian, Asia Pacific and US markets, he added.

A team of business analysts and technical experts took nearly 18 months to develop Microsoft Advisor+, which the company claims is first of its kind to provide advisory services, which the existing softwares in the market have left untouched.

Mr Subramaniyam said wealth management concept is catching up in the developing countries because of their booming economies, high disposable income, product innovations and the global exposures and integration.

Birlasoft, which acquired the assets of Sydney-based Fusion Technology Group and IP rights of Portfolio Insight early this year, would strive to create as many IPs as possible either by internl development or acquisition, Mr Subramaniyam disclosed.

Looking at saturation in the developed nations, Birlasoft is focusing on 'Benelux' market (Belgium, the Netherlands and Luxembourg), and Germany for business expansion.

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