The Hindu Business Line : Congruent closes second US deal

Close on the heels of buying out a California-based software firm, Congruent Solutions has closed its second deal with a firm in New Mexico. It would sign three or four more deals within the next four months, its Co-Founder and President, Mr Bala J. Raman, told Business Line.

The company is engaged in providing offshore `Benefits Administration' service to third-party administrators (TPAs), thereby giving TPAs an opportunity to reduce administration cost, increase profitability and handle time-sensitive seasonal requirements, such as filing returns.

According to Mr Raman, this offshore methodology guaranteed 100 per cent processing accuracy and on-time completion of processing work.

"We believe that India is capable of developing high-end software products for the domestic as well as US markets," he said. Congruent operates in verticals such as retirement plans and e-learning.

Stating that Congruent was the only Indian company currently to undergo the 401 K certification process for its retirement plans process, he said the retirement market involved four participants - insurance companies, TPAs, customer organisation and employees of customer organisation. "The IT adoption in this space is very high. Two years ago, we considered taking over the back-end process of the TPAs, because there were not many affordable solutions in the market. "

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