IBM has announced that Manappuram Finance, India’s first listed and highest credit rated gold loan company, has engaged IBM in a 10 year multi-million dollar deal to transform its IT systems in support of its aggressive growth plan. The IT services deal will also ensure Manappuram delivers superior customer service in a highly commoditized market.

IBM will build and manage the entire IT infrastructure for Manappuram Finance and deliver application transformation benefits through the implementation of leading business solutions in the areas of Finance, Human Resource Management, Business Intelligence Collaboration tools and Document Management.

With over 2300 branches across India, Manappuram Finance is a leading player in the realm of gold loans. Manappuram Finance has seen significant growth in the last few years and the company wants to continue this rapid expansion. To support this aggressive growth plan, Manappuram Finance made the strategic decision to strengthen the company’s IT system to speed up their go-to-market time, enhance productivity, and increase efficiency resulting in competitive advantage.  

IBM’s relationship with Manappuram started in 2009 when the company engaged IBM for an IT strategy project to support their rapid growth plans. IBM helped Manappuram identify and address gaps in their business processes and IT systems, risks (and how to mitigate them), areas for operational efficiency and business process transformation. IBM also prioritized and recommended a roadmap to build a strong technology platform, architecture and landscape to drive the business growth of the company.

Manappuram decided to partner with IBM, over other service providers, based on IBM’s proven track record in creating a robust IT environment essential for long-term business objectives.