IBSFINtech plans to set up units in Singapore and Dubai

Setting its eyes on expandingits base in the Finance Technological solutions sector, IBSFINtech, which develops corporate treasury management solutions, intends to have units in Singapore and Dubai.
Talking to PTI at the inauguration of its new office here, IBSFINtech CEO C M Grover said, "We are also expecting to generate foreign exchange revenue for the company this year. We plan to have our presence in Singapore and Dubai.
"Our main aim is to expand globally and the first step is to have our set-up in the Middle-East and South-East Asia," he added.
Talking about the challenges, Grover said there were many core banking companies but hardly 30 of them across the globe offered treasury management solutions.

Of the 30companies, 15 may be defunct. It is a domain- centric company,which cannot be developed easily, he added.
The IBSFINtech CEO explained that it took four years to developthe product even as enhancement was still on.

Shortly, thecompany is coming up with a cloud-based solution in a SASmodel for the small and medium enterprises segment.
"As of today SMEs are deprived. Our target is to empower them," Grover said.
Future Group, Snapdeal, Indofi, Mahindra and Mahindra, Maruti Suzuki and JSD run their treasury on IBSFINtech treasury software.
Regarding Goods and Service Tax, which has created certain confusion among the business community, Grover was firm that the software doesn't conflict with GST.

"It (GST) is in sync with our software because the product is developed in-house. We could accommodate the GST related strings in the software," he added.