At Tricom India, the year 2009-10 was largely a year of consolidation
and integration of businesses, operations and manpower. At Tricom, our
commitment to enhance customer satisfaction by consistently providing
services that reflect quality, reliability, speed, versatility,
confidentiality and adaptability remains strong and continues to drive
all our efforts.
The consolidated turnover of the Company increased by 6% to Rs 9021
lakhs during the 12 months ended March 31, 2010 as compared to Rs 8526
lakhs in the previous fiscal. Net Profit After Tax was Rs 1470 lakhs
for the year under review, a marginal increase of 4% over the previous
Operating in niche business segments has always been your
Company’s focus and strength. Healthcare outsourcing represents one
such growing business segment.
Healthcare spending in the U.S. is fast expanding and represents a
compelling opportunity for the outsourcing industry. Spiralling
healthcare costs coupled with the increasing regulatory requirements
are expected to result in increased administrative costs and this in
turn will result in pressures to contain costs. It is estimated that
the widespread adoption of electronic health record systems in North
America and Europe will result in significant e-health record spending
in these regions.
At Tricom, our healthcare outsourcing solutions provide business
processing support and services in the areas of Medical Billing and
Claim Processing to healthcare providers and insurance carriers. Our
solutions encompass a comprehensive suite of platform- enabled
back-office services that span the healthcare revenue cycle workflow
commencing from patient admission and charge capture to claims
processing and receivables management.
The solutions developed by Tricom are focused on increasing the
operating margins and cash flow generation of healthcare clients by
deploying most efficient business processes, tried and tested
proprietary re-engineering metho- dologies and technology enabled
Having acquired Tricom Infotech Solutions Ltd. (formerly Godrej Global
Solutions Ltd.), a well known name in the Healthcare Outsourcing
Industry and formerly a subsidiary of Godrej Industries Ltd., we have
utilized our strong domain knowledge, cutting edge expertise in
Information Technology Enabled Services (ITeS), best prac- tices in
software development and application delivery to develop precise
solutions to execute the new, large healthcare order acquired during
With a total order size of USD 10 million spanning over five years,
this healthcare order is the single largest one in the history of
Earlier, looking at the large potential in the healthcare business
segment, the Company had appointed senior level marketing personnel.
The additional marketing thrust has helped give a new growth momentum
to the healthcare business. We expect revenue of USD 3 million to
materialize this year (2010-11) from the healthcare business alone. We
have set up an exclusive, modern facility in Mumbai for the execution
of this order.
OTHER BUSINESS DEVELOPMENTS
During the year 2009-10, we secured a new order worth USD 2 million in
the Title Plant business. The business by virtue of the utility it
offers, continues to grow. Title Insurance protects lenders or,
borrowers against losses arising from problems or defects with the
ownership or, legal title of a property
In the e-Publishing business segment, the number of newspapers we are
increased by 25%. Our e-publishing services continue to offer cost
effectiveness, quick turnaround, and state-of-the-art electronic data
conversion, ranging from simple to high complexity jobs.
These orders are an endorsement of the consistent quality and timely
delivery of services, rendered by Tricom.
It is our endeavour to achieve customers’ delight and consistently
surpass their expectations.
We have built this edifice called Tricom on principles of integrity,
transparency, fairness while always pursuing excellence. These values
continue to guide us and form the bedrock of our businesses. As we
combine domain expertise, process skills and technology to deliver
world-class process outsourcing solutions, we aspire to ensure that the
same job is done syste- matically, swiftly and in a more cost-effective
manner. And it is people as much as technology that plays an important
role in achieving the desired organizational goals. As we integrated
businesses, it provided us the right opportunity to re-emphasis this
focus and on
communicating our core mission and values through well-integrated HR
With strong business fundamentals in place, we are confident that the
year 2010-11 will be a year of continued growth and progress.
The domestic BPO market is expected to grow at 25% in 2010 to touch USD
1.2 billion (around Rs 5400 crore) by 2011, according to a study by
Gartner. The Indian economy is already on the high growth trajectory
with robust domestic consumption and rising investment.
I take this opportunity to express my sincere appreciation to our
employees for their commitment and hard work during the year. I also
place on record our gratitude to all stakeholders and our esteemed
bankers who have supported our growth plans.
Thank you for your time and continued support.