SunTec CEO K Nandakumar received the coveted award at the Asia Red Herring 100 Conference held at Shanghai recently. Top executives from 200 companies, which were selected from about 1,500 contenders, had gathered at the event to showcase their innovative technologies and winning strategies before a selected audience of specialists in the trade. Subsequently, the Red Herring jury evaluated the nominations for qualitative and quantitative criteria, such as technology innovation, quality of management, execution of strategy and integration into the companys ecosystem, and named SunTec among the top 100 companies in Asia-Pacific region. SunTec is now a strong contender for Red Herring Global 100.
Presenting the award, the CEO of Red Herring Alex Vieux said, It has been a difficult year for most companies across the globe; yet Red Herring received a very impressive list of nominations from Asia-Pacific. Companies, which believe in constant innovation and consistent strategy, and invest in people and technology, could withstand these difficult times, and SunTec is one of them.
Throughout these years, SunTec has built an impressive client base, competing with giants in the transaction pricing and billing space. They will certainly outgrow the marketplace and become a formidable force in the future, he added.
Accepting the award, K Nanda Kumar, CEO of SunTec said, It is an honor to be selected as a Red Herring 100 winner. Relationship-based Pricing (RBP) is among the most innovative technologies that have dawned on the Banking and Financial Services Industry in the last decade. RBP was pioneered by SunTec way back in 1999, and has been defining the BFSI market across the globe. The award comes as an endorsement of our efforts in innovation. Today our solution transcends industry barriers and redefines the transaction pricing and billing space across various verticals, including telecom, utilities, ports, retail, hospitality, leasing and logistics.
For the last 10 years, Red Herring's editorial team has been diligently surveying entrepreneurship around the globe. Technology industry executives, investors, and observers have regarded the Red Herring 100 lists as an invaluable instrument to discover and advocate the promising companies that will lead innovation. Past award winners include Google, Yahoo!, Skype, Netscape, Salesforce.com, and YouTube.