Sundar Garg: An Expert Bfsi Automation Leader Leveraging Rich Experience To Outsize Businesses Challenges | CEOInsights Vendor
Sundar Garg: An Expert Bfsi Automation Leader Leveraging Rich Experience To Outsize Businesses Challenges

Sundar Garg: An Expert Bfsi Automation Leader Leveraging Rich Experience To Outsize Businesses Challenges

Sundar Garg,President & CEO

Sundar Garg

President & CEO

There’s no doubt about businesses hitting the iceberg, scuffling to adapt to the new extraordinary brought down by the pandemic, however it’s also charismatic to witness the BFSI sector adapting to the crisis assuming the Big Data Revolution, integrating AI, ML, IoT into the financial services. Opting for a service oriented approach with the inclusion of data analytics, the industry has made significant strides in optimizing revenue potential and using it towards process automation, risk management, fraud prevention, resource utilization, customer retention and acquisition. According to the recent reports by Businesswire, the global BFSI contact center analytics market size is expected to reach USD 842.5 million by 2028, registering at a CAGR of 16.3 percent from 2021-2028. Grabbing onto this opportunity, Sysarc Infomatix, is one of those remarkable leaders who have been contributing to the increase in this graph.

The company is headed by industry stalwart Sundar Garg (President & CEO) and in an exclusive interview with CEO INSIGHTS, he talks in detail about the company and its operations.

Tell us about your journey with SysArc Infomatix entailing the benchmarks you have helped it achieve over the years? What is the vision and mission instilled for the company?
The journey started in 1997. I was the first employee of the company, privileged to lead it into a 400 strong workforce today, earning customers around the globe, most notably in India and the US.

Call it fad, most IT entrepreneurs back then ventured into IT services. My vision was a bit different. I wanted to build a software solutions company to serve a yet to choose vertical that will be par excellence and occupy a dominant, leadership position. We explored to identify lines of business that thrive in both economic upturn & downturn, and that has perennial future. Among the businesses identified, we selected one that was run manually, but that can benefit from automation. We chose the LENDING function to build our software for. Looking back at the two decades of journey, our dedicated management staff can rest on the laurels as we stood by our mission to be the best software solutions provider in our chosen field.

Tell us about some of the major decisions you have made for the welfare of the company amidst undesirable scenarios.
Welfare of the company is measured in terms of right market positioning, relevance of our products & services for a secured future, liquidity to meet our financial commitments, healthy return for the investors and sustained growth. As
a first step, we made an executive decision to stay focused in the niche market, and so were able to meet our goal of being a well known company in the industry for its reputation for offering world class products & services. As the welfare of a company is intertwined with the goodwill it earns, we have grown with it over the last two decades exhibiting excellent work ethics, business integrity, discharging of financial & non financial obligations on time and without compromise.

Although a few investors came along to invest funds in the company, we assessed that the risks out weighed the benefits. We took a conscious decision to run the company with funds generated from operations. It has paid us rich dividends in terms of keeping the company to its core principle of not straying out to serving the lending automation market.

Today, digitization has overhauled the entire global system, and Indians can also be witnessed embracing this golden treasure at a lightning speed.

How would you describe SysArc Infomatix as an organization and list the technology trends & innovations built within its solutions.
Innovation has been the key to our success. We understood from early on that innovation requires substantial budget allocation for R&D, skills to choose correct leading edge technologies that can yield maximum business benefits for our customers,a mindset to accept intermediate innovation failures to ultimately reach the desired goals, and patience during gestation periods. A quick look at the past will reveal that SysArc has been the forerunner in the invention space.

We have been the pioneers in bringing innovative products to the market be it voice based systems, handheld devices connectivity, straight through processing or digitization. We were the first vendor to introduce BPR workflow systems and Document Management System as part of loan application processing.

Describe the kind of culture you have built and how are you balancing your workforce's needs under the principles the company stands for?
Goal Congruence between an employee's personal/family objectives and the organization goals has been the hallmark of the company's character. We strike harmony between the actions of individuals to achieve personal goals to help the achievement of organizational goals. Our compensation structure, the promotion policy that is devoid of any bias or favouritism regardless of the employee background define the character of the company. A glaring practice is our steadfast determination to operate from within the city limits(as against
going outskirts to save costs)to afford quicker access of employees to their kin, when needed.

We develop a sense of belonging. Mutual loyalty is generally the order of our work environment.

What is the future role you have imagined your self shouldering and what are the plans set for accomplishment?
As the CEO, I am cognizant of the fact that succession planning is inevitable & healthy for a growing organization. We nurture and grow backup personnel for every executive position and that applies for the CEO position too. Our management is a blend of youth & experienced, technical & non technical, and inhouse developed & external acquisition personnel. While we savour leadership skills gained from running the company from within, we are also careful to balance the talent with personnel coming from the industry, to avoid inbreeding. We have a rock solid succession planning protocol in place, that any loss in the management team including me will not negatively impact the company. The three guiding principles that determine the qualification of the board level executives are performance, demonstrable leadership qualities, and loyalty to the company. The company has been really fortunate to house talented managers with the traits.

Lending business has seen tremendous changes in the recent years and so the automated solutions should stay attuned to keep pace with the business dynamics. The next leader who will take over from me will be a visionary, who is adaptive and nimble. As the chairman of the Board, which I intend to take up upon vacating the CEO office, I will guide the new leader, where necessary.

What is the message you would like to convey to individuals entering the fintech space?
Today, digitization has overhauled the entire global system, and Indians can also be witnessed embracing this golden treasure at a lightning speed. It is heart warming to see young entrepreneurs entering the fintech space. The creative brilliance and fresh ideas coming out their shops will help businesses immensely. Hence, my message would be Fintech solutions are only a vehicle to solve business problems. Stay focused on the business you want to help, align your fintech strategies to address the business issues; they can be cost control issues, lack of management control, inaccurate information, inability to respond quicker to business opportunities and the like. Your solutions can sizzle, or something that has never been thought of, but it may not see the light of the day if it cannot solve a defined set of businesschallenges. Keep your ears to the ground.

Sundar Garg, President & CEO, SysArc Infomatix
A dynamic personality renowned for his humble contribution and incredible ideas in BFSI sector for business growth & development.

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