Security and Intelligence Services (India) Ltd. expects its evolution from a provider of security services into a solutions-focused business will help it consolidate a larger market share, according to its Group Managing Director Rituraj Sinha.
“We see an evolution towards providing solutions as a trigger for consolidating market share,” Sinha told BloombergQuint in an interview, adding that SIS only has a 4 percent market share compared with a 20 percent share that its peers in the U.S., U.K., and Australia enjoy. “The difference is largely due to (their ability) to provide (full-fledged) solutions and (enforce) labour reforms that trigger consolidation of market share.”
“Solution is the next stage of evolution. It essentially means the use of a significantly higher degree of technology, hardware as well as software for problem-solving,” he said. “This will reduce the manpower intensity while not compromising the solution or the effectiveness of the outcome.”
SIS has been on a journey to migrate from a manpower supply business to a services business and ultimately a solutions-based business for the last four to five years, Sinha said, adding that that's the path they will continue to tread on. “Our ‘Man-Tech' proposition is a step in that direction, where we are looking to bundle not just the security service personnel but also CCTV cameras, video analytics, control dashboards and design software for customers which can help them solve their problems.”
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