Nexus, the largest Independent Financial Advisor (IFA) in the Middle East, will deploy a comprehensive new “IFA Administration System” developed by leading IT services company Birlasoft. The system will be one of the most advanced ever deployed in the insurance services sector.
With an estimated overall 2007 IT investment of USD 3.5 million, the developed IFA System will build upon Nexus’s recent infrastructure enhancements and provide the Group with a comprehensive approach to capture global financial data and supplying it directly to Nexus clients.
The implemented system will also offer one of the most sophisticated customer relationship management tools available in the region.
To support Nexus’ plans for regional and global growth, the system has the capacity and licensing provision to extend to 3,000 “seats” or users.
“This investment underlines the seriousness of our intent to provide the highest possible level of customer support in our industry sector. The Nexus IFA Administration System will provide us with one of the most advanced mechanisms for ensuring customer satisfaction available today” said Mahmoud Nodjoumi, owner and CEO of Nexus.
“We are delighted to work with Birlasoft, which has demonstrated its international expertise through some of the world’s most advanced implementations, and feel confident that they will provide us with the highest possible level of service and support as we continue to grow our business,” he added.
The implementation is among the largest Birlasoft has developed in the Middle East region, and marks the start of the group’s expansion into the area.
Built on the Oracle 11i E-Business suite, the System provides Nexus client representatives with real-time data on clients’ records and existing policies, news on new financial products available on the global market and is capable of conducting needs analysis for clients in multiple currencies and multiple languages.
The technical system is among the most advanced ever-deployed by an IFA, and positions Nexus well for its planned ongoing global growth.
For Birlasoft, working with Nexus provides the group with a major customer reference as it enters the Middle East market.
Kamal Mansharamani, CEO, Birlasoft, explains: “As a company, Birlasoft has strong plans in place to extend our presence in the Middle East throughout 2007, and the advanced nature of the system implemented at Nexus demonstrates the strength of our professional services.”
Under Mansharamani’s leadership, Birlasoft’s off-shore team has grown extensively from 200 people to 4,000 in six years. Already established in the US, Europe and Asia Pacific, the group intends to increase its Middle East presence by fourth quarter 2007.
“Nexus and Birlasoft are natural partners: we both aim for a leadership position in our respective markets, and we prioritise customer satisfaction as our highest goal,” concluded Mansharamani.
Launched in September 2006, Nexus is the largest IFA brokerage in the region employing more than 250 professional and independent advisors. It has offices in Dubai, Abu Dhabi and Bahrain, with plans to expand across the region and ultimately internationally.
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