NTrust Infotech to expand business in Europe

IT services and business process outsourcing company NTrust Infotech Pvt Ltd is expanding its business in the European market in addition to its existing presence in the US, a top company official said here Thursday.

"We started to build our expertise for the European market two years ago. Countries like Germany have started permitting real estate investment trusts, thereby throwing up an opportunity for players like us in Europe," Srikanth Ramachandran, CEO and president of the company, told IANS.

NTrust Infotech specialises in providing simple abstracts of lease deed documents for lease management and real estate management companies in the US and Europe. This helps clients of these companies to meet lease obligations like paying rent or tax on time.

According to Ramachandran, outsourcing prospects are good in Britain, Italy, Ireland and Russia.

Agreeing that the rupee rising against the US dollar is impacting the company''s revenue and profits, he said: "Many of our US clients have operations in Europe and hence, we are going there."

He said the company has built expertise in 14 European languages.

"Currently we have eight customers in Europe. In couple of years, the region would contribute around 12 million euro to our top line (revenue)," Ramachandran added.

Lease abstraction work in Europe is more complex than in the US, he said.

"In the US, the cash flow from lease rental is easily predictable. In Europe, there are different calendars and the payment terms also vary. Some are monthly and some are weekly. Similarly, the rent escalation clause and tax laws differ between countries," he said.

He pointed out that Europe offers better returns as companies there look at the service provider''s capability rather than only the cost factor.

With its business growing in new geographies, NTrust Infotech will be doubling its headcount to 600 in the next 12-18 months.

"We look out for people who are good in English and have an analytical mind," said R. Janakiraman, chief operating officer of the company.

"Lease deed abstraction is not a call-centre job. It requires people with knowledge and analytical ability. For such people, there are more paying jobs (in the US) than the $20 per hour lease abstraction work," said Ramachandran.

The work would cost around $45,000 a year in the US, whereas the same work could be done in India for $12,000-15,000.

(IANS)

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