Sundaram Business Services, the BPO arm of Sundaram Finance Ltd [Get Quote], plans to hire over 200 people this year.

The expansion has been necessitated by new account wins as well as growth in existing customers, domestic and international, a company release said.

SBS, which currently has over 450 employees in a 30,000-sq ft BPO facility in Chennai and has subsidiary facilities in Mumbai and Delhi, are looking for qualified accountants and management graduates.

"We are seeing a lot of traction in the domestic market, especially in the insurance vertical. We have strong domain expertise in the insurance back office operations which appeals to both established and new generation companies and our plan is to expand in this space in addition to the accounting and payroll services," SBS executive director and head P S Raghavan said in the release.

The company is targeting the overseas BPO market, the release said.

SBS' ongoing offshore outsourcing engagement includes a multi-year outsourcing agreement with Total Super, a self-managed superannuation fund administration firm in Australia and an accounting firm in the UK.

"Australia has a huge number of SMSF's. Over the last two years, we have partnered with leading super-fund  administrator in Australia and currently service over 1,000 funds -- a number which we expect to double in the next 12 months," Harsha Viji, vice president, SBS said.

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