Information technology services firm Mphasis has partnered with business process management (BPM) company Camunda to gain a stronger digital foothold for existing clients while growing its presence in global markets in the financial services sector, the company said in a statement.
Under the collaboration, Mphasis will increase value-added services with Camunda’s cloud and BPM technology to enhance on-boarding services for new clients, increase revenue and upgrade bottom-line operations with partner tools and frameworks, it said.
Berlin-based Camunda is an open-source workflow and decision automation platform, with tools for creating workflow and decision models. The company's operating models in production allow users to execute workflow tasks assigned to appropriate recipients.
“This partnership with Camunda provides businesses the nimbleness to address customer needs faster with hyper-personalisation of customer experiences,” said Dinesh Venugopal, president-direct and digital, Mphasis.
Bengaluru-based Mphasis said the partnership will also help it with a faster time-to-market apart from providing high-value services to customers in the insurance and banking sectors.
"It underscores our commitment to assist enterprise clients to quickly deliver better products and service experiences while optimising costs and simplifying critical multi-cloud operations strategy," Venugopal added.
According to the Mphasis, the partnership fits the company's customer demands for microservice-based workflow and decision management platforms at a lower price point, as well as the ability for greater flexibility of integrating with modern user interfaces.
“Mphasis offer next generation services across the IT sector in both traditional and emerging technologies, which will further enable our customers’ digital transformation capabilities,” said Jakob Freund, co-founder and chief executive officer at Camunda.
In the last week of May, Mphasis had partnered blockchain firm Bitfury for the digitization of financial services related to international trade.
Mphasis had reported a 12% rise in consolidated net profit for the January-March quarter to Rs 266 crore from Rs 238 crore a year earlier. Quarterly revenue grew by 16% to Rs 2,025 crore from Rs 1,745 crore, the mid-sized IT firm said.
Last month, the IT firm had roped in Tech Mahindra’s Ravi Vasantraj to head its global business process services, including the digital risk portfolio.