HCL, SIDBI to provide IT solutions to SMEs

New Delhi, May 9 (UNI) Software service provider HCL Technologies today said it has entered into an agreement with SIDBI to implement an integrated enterprise-wide IT solution for delivering increased efficiency in its business operations and reduce response time to SME customers in credit delivery.

''The project would benefit the SME clients in extending faster credit delivery, status of loan application, self service for loan account tracking through internet, online invoice discounting,'' Small Industries Development Bank of India (SIDBI) Executive Director V Chandrasekaran said.

HCL will do extensive business process re-engineering before the implementation phase.

The project will be implemented over a period of 15 months and the company will support the solution at SIDBI for a period of five years thereafter.

Apart from the main focus of total credit automation for faster credit delivery management by implementation of core banking solution, the bank will also achieve web-based total integrated systems, including Business Intelligence (BI) /MIS, electronic workflow, document management and e-commerce, said R K Srivastava, Chief General Manager, IT, SIDBI.

UNI