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ALLSEC Technologies

BSE: 532633|NSE: ALLSEC|ISIN: INE835G01018|SECTOR: Computers - Software Medium & Small
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Chairman's Speech (ALLSEC Technologies) Year : Mar '05
Dear shareholders,
 Greetings
 
 I am excited to present to you the Annual report for the financial year
 2004-05.
 
 When in year 2000, we set up a modest 100 seat capacity to cater to the
 contact center needs of the US markets, we set our own processes,
 systems and training methodologies tuned to deliver from India. We had
 no comparable benchmarks of performance, as the industry was nascent.
 The last five years was all about rapid growth in the BPO sector and to
 settle in this sector with profit motive was a great challenge. We
 overcame this challenge by expanding capacities at the appropriate
 times and acquired clientele and domain expertise over this period. We
 have strived hard to build a robust and efficient delivery model from
 India and are proud to be operating a capacity of 1700 seats and over
 3000 employees soon.
 
 Allsec has been steadily growing for the last 5 years; we have always
 grown with constant focus on quality and performance. Our clients have
 always been happy with our service delivery and we have spared no
 effort in making sure that quality is never compromised. In turn, our
 clients have been continuously rewarding us with more jobs, which has
 helped us grow steadily. Our strategy has been to grow in different
 verticals leveraging the relationship of an anchor client since
 inception and today have multi-vertical client engagements; we
 certainly have come a long way. US has been our main market till now
 and we strongly believe we now have laid foundations to set our
 footprints in three distinctive geographies - the Americas, United
 Kingdom and the Australian comment. This will go a long way in
 optimizing the utilization of the capacity and also mitigating external
 risks associated with a single geography.
 
 Today, Allsec boasts of a clientele that is truly diversified in terms
 of verticals and all of them are leaders in their respective segments -
 a Leading Credit Card issuer for whom life cycle management became a
 reality: a Student Loan Consolidation Company for whom `END 2 END
 support became a plausible business model; an American ISP for whom
 customer relationship management emerged as a strong business
 proposition, thanks to Allsecs integrated multiple support touch
 points: a Fortune 50 Client,whose quality assurance model became a
 measurable, manageable and improvable statistical business process; a
 global consulting firm whose payroll pressure points were firmly dealt
 with resulting in an effortless HR management practice; not to mention
 a commercial enterprise for whom risk management and loss mitigation
 through collections management became a realizable business option; and
 numerous others for whom managing the non-core activities became a
 pleasant business surprise due to their association with Allsec.
 
 We have maintained strong growth in revenues and profitability during
 FY 2005. In FY 2005, our total revenues crossed Rs. 500 million mark
 along side improvements in operating metrics. During the year under
 review, your Companys revenue has recorded a growth rate of 230% to
 Rs.575.52 million (12 months year ended March 31, 2005) from Rs. 249.41
 million (15 months period ended March 31, 2004). The better utilization
 of assets coupled with a higher realization has yielded a post tax
 profit of Rs. 118.62 million as against a loss of Rs.164.98 million for
 the previous period. The consistent growth in terms of size and revenue
 indicates that we have successfully transitioned from a small entity to
 a mid size pure play voice BPO company. Given our growth plans, I am
 sure that we will hit the next level shortly.
 
 The next year will see us utilizing the 1000 sealer, which is now being
 built, and I am confident that before end 2005 the new center will be
 fully functional and the full benefit of the expansion will be realized
 in the financial year 2007. I am confident it will house the next
 series of global clients who will entrust their business processes to
 us.
 
 We set out with our goal to build a robust, India centric BPO company
 with a global reach and deliver diversified service offerings that will
 stand the test of time and varying business challenges. We recognize
 that we are certainly on the right path and that continuous value
 addition to all stakeholders is the only way we will be able to achieve
 our objectives. I am sure that there are significant opportunities for
 additional growth with our existing clients by expanding the existing
 relationships and increasing the depth and breadth of the services that
 we currently provide to them. This would also pave the way for us to
 acquire new Fortune clients and bring them to our fold.
 
 It has been a very enjoyable journey for all of us at Allsec and while
 our history is inspiring, our future is even more promising. All our
 achievements have been made possible by our people: Our employees; Our
 clients and Our shareholders. I would like to thank every one of them
 for bringing us this far.
 
                                                              Thank you.
                                                             A Saravanan
 Chennai - 42
 Dated: June 13, 2005.
 
 Our Business Philosophy
 
 OUR MISSION:
 
 To deliver focused response management solutions using:
 
 LI Cutting-edge Technology Platforms
 
 LJ Innovative, Structured and Secure Business Processes a Skilled,
 Trained and Dedicated Manpower
 
 To bring about customer delight, reward employees and improve
 shareholders wealth.
 
 OUR GOALS:
 
 a Build a robust, India-centric BPO Company with global reach and
 diversified service offerings that will stand the test of time and
 varying business challenges.
 
 Continuously enhance shareholder wealth by achieving improved
 earnings and sustained growth. 1-1 Maintain high standards of
 corporate governance, management and workplace practices.
 
 OUR QUALITY POLICY:
 
 We will continuously benchmark and deliver quality customer centric
 solutions which exceed client expectations resulting in end customer
 delight.
Source : Dion Global Solutions Limited
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