Mon, 04 Aug 2008
Reza V. Maspaitella owns the first integrated outsourcing company in Indonesia with a focus on banking, finance and insurance. Now, it's his obsession to go global.

The 18th floor of his Kuningan office is packed. The walls are brightly decorated and cubicles are full of employees busy receiving telephone calls. This is the Jakarta contact center for PT Valdo International, an outsourcing company for banks and insurance companies owned by Reza V. Maspaitella.

“These are the telemarketing activities for our clients especially Bank Danamon and American Express,” Reza, the president director of PT Valdo International, tells GlobeAsia.

With 3,000 staff, Reza turned over $35 million last year. His outsourcing company won contracts from the Who's Who of Indonesian and multi-national banking and insurance: Bank Mandiri, BCA, BRI, Manulife, Adira Financial, Citigroup, HSBC, Bank Niaga, ABN-Amro, Nokia and Maxis Telecom.

Reza bases his success on the courage to make decisions and take risks.

As a budding entrepreneur he took his first big risk leaving a high profile job as Standard Chartered Bank country business head eight years ago to set up an outsourcing company - at the time an untried venture in Indonesia.

His company is the first integrated outsourcing company in Indonesia, offering services ranging from human resources, administration systems, contact centers and information technology.

Valdo is fundamentally different than Sigma or Multipolar which specialize in information technology. Reza's company provides services
such as managed application processing, contact centers, collection management services, electronic document management services, payment management services, technology outsourcing, facility management & network communications, and human resources outsourcing.

The human resources services include recruitment, training and development, payroll management and human resource administration.

Reza has just launched a new service called V-Paynet, short for Valdo Payment Networking. Like an automatic teller machine (ATM) service, V-Paynet can be used to extend vehicle registration, transfer payments on credit instalments or as a credit card and money transfer service.

V-Paynet will be available in shopping centers such as Carrefour, Giant and Hypermarket.

“We focus on banking, multi finance and insurance but we are expanding to other sectors such as telecommunications and information,” says the Webster University, St Louis, Minnesota graduate.

Valdo is also developing a mobile payment function as a means of payment using cellular telephone technology.

Reza’s obsession is going global. Last April, he signed a joint-venture agreement with Brandt International, a Singapore-based outsourcing company which specializes in customer service/relationship management and has a customer bases in Singapore, Malaysia, Indonesia and the Philippines.

Valdo International will hold a 60% stake with the remaining 40% owned by Brandt.

“The main goal of the joint venture is to make Valdo International a global and regional contact center company such as the ones in the United States, Europe and Australia," says Reza, who recently acquired a Philippine company, WinSource Solution Inc., for $7.9 million.

Valdo has also signed a new contract with an Australian home-shopping company that will be managed through the ValdoBrandt contact centre in Manila. He also has new contracts with a telecommunications company in Singapore and a bank in the United States, but declined to mention the companies by name, saying it would be inappropriate at this stage of negotiations.

According to GlobeAsia sources, the value of the two contracts is more than $30 million.

Munirah Looi of Brandt International says his company is happy tying up with Valdo, which has a strong base and reputation not only in Jakarta but throughout the region. She is convinced that the combination of the two strong brands will bring synergy to Indonesia and the region.

“The strategic aim is to make Indonesia a hub for the outsourcing industry of the future. We have competent people to support this
industry," she says.

Reza says the total value of the outsourcing industry is currently worth $247 billion and two years from now it could increase to $450 billion.

“The world does not know Indonesia as a leading provider of outsourcing services and that Indonesia has done this since early 2000," he says.

Most outsourcing firms are based in India, China, Singapore, the Philippines and Malaysia. Of the total world outsourcing business valued at $247 billion, India has 11.2%, China 4.2%, the Philippines 1.2% and Malaysia, 1%. Now, South American countries such as Argentina, Brazil, Ecuador, Puerto Rico, Chile and Mexico are entering the market.

Reza says his dream is to make Valdo the premier choice for outsourcing in Asia. He wants Valdo to provide world class services for global corporations. “My goal is to make Valdo the preferred choice and in the year 2010 be a major player getting at least 1% of the world market.

We're the pioneers of Indonesia entering world markets,” he adds.

Reza also plans to float Valdo on the stock market so employees will one day be able to get stock options. “The principle of this company is growing together with its employees and stakeholders,” he says.

Professional factor

There were many obstacles when Reza first started Valdo. Not many Indonesian companies accepted the concept of outsourcing, so he focused on foreign companies which were more open to the new service. With a record of success, he then turned to national companies.

“The education process (with national companies) took two years due to different corporate cultures and leadership and whether the companies were open to modern management,” Reza says.

Reza says his professional background as business head at Standard Chartered, GE Capital and Citibank helped him develop Valdo. "Networking plays an important role n any business but you always have to back it up
with strong expertise."



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