BMC Software Inc. 's ( BMC ) Control-M Workload Automation suite has recently tasted success at the Indian life insurance company, ICICI Prudential. The BMC solution was picked up by the insurance carrier in the hope of its offering optimal services at rational costs. Financial details of the deal were not disclosed.
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, one of the foremost financial service companies in India and Prudential plc, one of the leading international financial services groups headquartered in the United Kingdom. The company follows a batch cycle process for its business operations. Hence, smooth running of the system while managing huge workloads is the prerequisite for its success.
BMC Software's workload automation suite offers a range of capabilities required to manage traditional job scheduling, batch service management and workload automation. It is now taking care of ICICI Prudential's 'on-time' batch cycle operations, reportedly cutting the insurance firm's workload processing time by up to 15%. Moreover, the solution has facilitated the efficient management of critical scheduling processes, thereby eliminating chances of errors by the IT staff.
The synchronization of workload and greater flexibility in the work environment reduces the total cost of ownership significantly. This feature also prompted German financial services company Dresdner-Cetelem Kreditbank GmbH to opt for the Control M solution, last month.
We feel that BMC Software's products are gaining popularity because they are increasing IT efficiency within eco systems of companies, thus pushing down their costs. The offered facilities go hand in hand with today's IT needs, thereby aiding demand growth.
BMC Software's international footprint is significant. Moreover, management is focused on opportunities to expand its operations in international locations that offer highly talented resources as a way to optimize global competitiveness.
Strengthening IT ties with India (the company operates in India through its solutions partner, Vyom Labs) indicates that BMC Software is quite active in this market. India is a fast growing economy and its IT-reliance is well known. We believe that a focus on India could be substantially beneficial for BMC, driving its revenue.
But at the same time, we believe that capturing market share from its rival International Business Machines Corp. ( IBM ), a key player in India, will be tough.
BMC Software holds a Zacks #3 Rank, implying a short-term Hold rating.