Singapore: Polaris Software Lab Ltd (), one of the largest banking, financial services and insurance (BFSI) technology companies in India, has announced the launch of its first business continuity centre (BCC) as part of its ongoing global growth strategy.

Information security and continuity of services is a business-wide priority for Polaris, and the company’s Singapore-based BCC will ensure the continuity of services and solutions across various customer engagements throughout the world, in the case of any eventualities.

In the wake of the recent socio-economic developments, there is an increasing dependence on critical data systems and services offered to various clients from remote offshore locations, making business continuity processes globally significant.

The Polaris BCC takes into account the entire spectrum of risk, ensuring the continued availability, reliability and recoverability of resources. In taking a comprehensive and integrated view of the requirement for information security, and in creating a balanced approach between technology, processes and people, the company implements robust assurance and risk assessment activities for its clients worldwide.

With its well-defined policies, processes and the necessary infrastructure in place, Polaris will ensure uninterrupted services to all its clients, in the eventuality of non-availability of necessary infrastructure. The launch of the BCC here in Singapore enhances Polaris’ global prospects, especially in the wake of the heightened need for more stringent and detailed business continuity processes, and simultaneously ensures that the organisation is continuously available to customers and other stakeholders.

Polaris’ development centres will be connected to the Singapore Business Continuity Centre through a dedicated private link. This circuit will be exclusively used for replicating data to the server installed at the Singapore centre. Polaris’ key clients will be inter-linked to the BCC. Using such links, Polaris’ clients will have direct access to the latest data available with the BCC.

The backup data that the company will preserve for its global clients will remain unscratched and will not be recycled in any form for as many years as specified by the client, thus constituting part of Polaris’ worldwide information security and business continuity policy. Similarly, Polaris’ Indian development centres will back up data for Polaris’ clients in the Singapore region.

Economic Development Board (EDB) assistant managing director Tan Chek Ming, speaking on the Polaris–Singapore relationship, says: "Recognising India’s growing importance in the global IT industry, EDB started a programme in early 2000 to encourage Indian IT companies to set up in Singapore under the Partner@Singapore initiative. This initiative capitalises on Singapore’s pro-business environment, excellent infrastructure and the presence of more than 6,000 international companies from diverse industries.

"Of these, more than 3,600 have regional responsibilities. All these factors have made Singapore an ideal meeting place for companies from all over the world to come together, to interact and collaborate on technologies and business opportunities. With the launch of Polaris'' Business Continuity Centre in Singapore, I am happy that Polaris has gone beyond the expectations of our Partner@Singapore initiative.

"This is Polaris’ first such centre outside India and represents an important milestone in its operations here. Eventually occupying a space of 6,500 square feet, the 150-seat BCC is a key component in Polaris’ global growth strategy. It will constitute part of Polaris’ worldwide information security and business continuity policy, and ensure the continuity of uninterrupted services and solutions for its clients.

"The facility here will also include a software development centre to service regional clients in Asia-Pacific and Middle East. The move to locate the centre here reflects Singapore’s stable and secure environment. Combined with its excellent telecommunications infrastructure, Singapore is an ideal location to site such a centre. I am pleased that Singapore is able to play such a key role in Polaris’ global strategy."

Indian High Commissioner to Singapore Prabhat P Shukla welcomes Polaris’ move to open its first overseas development centre in Singapore, which will serve as the company’s operational base for the Southeast Asian region. "The IT industry has contributed substantially to India’s economic growth and it is a matter of pride that corporates from India are redefining technology parameters across the world. India and Singapore are bound by a strong synergy and a common vision to become leading electronic hubs globally.

"Companies like Polaris are examples of the blossoming partnership of the two nations. We encourage Polaris to continue absorbing newer technologies and enhancing their business methodologies."

Underlining the company’s commitment to the South Asian region and to Singapore in particular, Polaris Software Lab chairman and managing director and CEO Arun Jain says: "We have aggressively embarked onto the next orbit of our growth and are growing into a one-stop ‘Solutions Supermarket’ for the global BFSI community. The launch of this BCC here in Singapore is of strategic relevance to our Asia-Pacific plans, and we are looking to significantly grow our business in this region, which is known to be one of the best business environments in Asia.

"Business continuity initiatives are a primary factor on our international growth agenda and we are now ready with a blue print for global implementation. We are happy to commence this strategy with this launch here in Singapore, and are looking to play a role in making the 21st century the ‘Century of Asia.’ We would also like to express our gratitude to EDB, ministry of manpower, Monetary Authority of Singapore and Infocomm Development Authority of Singapore for their continued support to our business operations."

Polaris is confident that its BCC will play a pivotal role in the company’s Southeast Asian focus, as it had defined the region as ‘prospective’ to its strategic growth plans. Polaris had established a subsidiary in Singapore in February 1997 and the launch of this BCC further strengthens the company’s presence in this region.

The company is looking to capitalise on its highly acclaimed processes and quality standards to make the BCC an ideal destination for banks, corporates and MNCs based in Singapore and the neighbouring regions. Polaris already enjoys premium relationships with major BFSI players like Citibank, UBS Warburg, Shinsei Group, Commerzbank, NEC and the American Insurance Group. The company plans to utilise the vast natural technology skill base that resides in Singapore by hiring from within the region itself.