SunTec Business Solutions is a global leader in Pricing, Product Innovation and Customer Engagement SunTec Business Solutions, help their clients increase the lifetime value of their customer relationships through real-time customer engagement orchestration and contextual product innovation. With deployments in over 40+ countries, SunTec is a trusted partner to some of the world’s leading banks and digital and communication service providers. Headquartered in India, it has offices in the USA, UK, Germany, UAE and Singapore.
SunTec’s flagship product Xelerate helps achieve customer-centric pricing. Leading global banks have leveraged Xelerate to drive enterprise revenue through leveraging the power of their ecosystems.
My internship role at SunTec Business Solutions primarily involves understanding the niche industry in which this organization operates, understanding how the company's product functions and can help its clients in the Banking, Telecom, Travel Industry to achieve sustainable growth, working on various assignments including identifying key prospects for establishing strategic alliance, conducting primary and secondary research to understand the future prospects of digitization in the Banking Industry, engaging with prospective alliance partners. It comprised of the following tasks:
- Thorough and in depth research thereby helping the organization in identifying and selecting a key consulting partner to form a strategic alliance
- Identified business opportunities by creating a pipeline of prospects and evaluating their position in the industry; researching and analyzing the leads
- Performing in-depth client, industry, market and economy research
- Conducting an in depth competitor analysis so as to determine the right set of organizations to form an alliance with
- Researching and understanding the various due diligence and consulting projects done in this space by prospective alliance partners
- Creating a database for prospective leads from regions including APJ, EMEA, LATM, US for all the leading consulting firms globally
- Action oriented insights to deliver tangible results
An alliance is a relationship among independent businesses with corresponding goals, established for a specific purpose and often for reducing costs and improving customer service. The collaboration is usually managed by a team with members from each business and held together by one agreement giving an equal share of risk and opportunity to each business
The following are the five basic types:
1. Sales alliance-an agreement to sell products or services that complement one another
2. solution-specific-an agreement to develop and sell a particular business solution together
3. geographic-specific-an agreement to market products and services in a particular geographic area together
4. Investment-an agreement to combine funds for shared investment
5. Joint venture-an agreement to share control, profit, and loss in a particular economic undertaking
Among the varied opportunities I had received, I got to work on various financial models that are built to value an entity. While working on the said assignment I understood the interface of many research portals.
I worked under the Vice President of SunTec Business Solutions Pvt. Ltd. , who has been a constant support during my internship days. I was always given a chance to understand the workings of the company with different clients, and how the whole process of interaction with the clients worked.