Date:16/03/2007 URL: http://www.thehindubusinessline.com/2007/03/16/stories/2007031601760700.htm

Back Control Solutions enters Indian market

K.R. Srivats

Keen to become single solution for internal audit, compliance services

New Delhi March 15 Control Solutions International, an internal audit and compliance services firm, has entered the Indian market to tap the growing opportunities for providing internal audit and compliance services to Indian companies.

As more Indian companies move their footprints abroad and review their corporate governance processes and control environment, Control Solutions sees scope for providing internal audit, compliance and risk management services to these companies.

"We want to be single solution for internal audit services to domestic Indian companies," Mr Simon Dealy, Managing Partner of Control Solutions International told Business Line, when asked about his India strategy.

With Clause 49 coming into place, Mr Dealy said that Control Solutions wants to offer its services to domestic non-multinational companies.

"The MNCs are the easiest target for us to go after because they have to go through compliance effort already. But we are keen on domestic companies. As Indian economy develops and becomes more sophisticated, more domestic companies would require our solutions in their compliance efforts,'' he said.

Expanding footprint

Mr Akshay Bhalla, who will head Control Solutions India, said that he expected Control Solutions India to work with atleast 15 of the top 50 listed companies in the country over the next two and half years.

"Over the next 12-18 months, you will also see us starting offices in other cities and expanding our footprint," Mr Bhalla said.

"Our practice will slowly expand to the main financial districts. We are now only in Delhi," Mr Bhalla said.

Control Solutions India also sees huge opportunities in information security management services, IT services, business recovery and disaster management besides helping Indian companies to handle issues like corporate identity theft.

On solutions for corporate identity theft, Mr Dealy pointed out that the complexity of the Indian environment was only going to increase and that the demand from market was only going to grow. "You look at the number of call centres and the infrastructure that they are setting up. They got to protect sensitive client information,'' he said.