Saksoft Limited to strengthen its operations globally

Saksoft (NSE: SAKSOFT.NS, BSE: 590051.BO), a global software services company focusing on the BFSI segment, today declared its annual results 2008 ? 2009. The company also shared its plans to increase focus on markets across geographies such as US, UK, Europe, India and A-PAC. Saksoft has acquired 7 new clients in last two quarters and expects to double its revenue and headcount in next three year.

Saksoft specializes in providing technology solutions in Information Management (IM), Web Development and Business Application Testing and has development centers in Noida, Chennai and Manchester (UK). In Chennai, Saksoft has moved into a new office at SP Infocity, a 20,000 sq ft facility located at Perungudi.

Experts believe that investment in technology is the best bet for Banking and Financial Institutions to survive the present downturn, unscathed. Capitalizing on its strong presence and age-old client relationships in this segment, Saksoft has remodeled and enhanced its business strategies to continue its upward growth. Besides acquiring new business, Saksoft is also consciously strengthening relationships with its key clients by offering them a spectrum of new services.

With the introduction of services like data warehouse testing, Saksoft has extended its portfolio in the Information Management space; while in the web development domain it is focusing on new areas like cloud computing, open source migration and portal development.

Speaking on the occasion Mr. Aditya Krishna, Founder & Managing Director, Saksoft Group said, ?Saksoft has seen substantial growth year-on-year and even in times of global slowdown. Having established our niche in the BFSI sector, we are now extending our unique services to the growing telecom segment. Our strategy to diversify into new verticals coupled with increased focus across geographies will fuel Saksoft?s growth in the future. During the last quarter, we increased our headcount by 10% and we now plan to double it in next three years.?

In an attempt to bridge the gap between employable talent and the large chunk of engineering graduates, Saksoft has started an academy to train graduates in niche technologies that empower and make them industry ready.

Highlighting on the future plans of the company, Mr. N K Subramaniyam, Executive Director, Operations and Technology, Saksoft Limited said, ?Saksoft has bagged seven new clients recently. Currently about 80% of our revenue comes from the US and Europe, while the rest of the 20% is shared between India and the Asia pacific markets. We are keenly looking at expanding and strengthening our business through partnerships and alliances in various geographies, thereby increasing our revenue by two folds in next three years.?

Saksoft recently launched an Advanced Deduplication Solution designed specifically to suit the requirements of high customer data intensive sectors such as banks, insurance, telecom, credit bureaus and airlines.
In today?s world, Information is the most valuable asset and organizations and hence a robust and reliable serving infrastructure becomes a necessity. A recent Gartner report states that the business intelligence (BI) sector has defied the recession to show revenue growth of almost 22% despite flagging IT budgets. Saksoft whose core competencies lie in this domain is all set to tap the opportunities in the road ahead.

About Saksoft:
Saksoft (NSE: SAKSOFT.NS, BSE: 590051.BO) is global software services company with focus on banking and financial services segment. Saksoft specializes in providing technology solutions for business problems based on three key competencies: Information Management, Web development and Business Application testing. An Information Management specialist Saksoft?s fully owned subsidiary Acuma is rated among the top 3 Information Management companies in UK. The services of Saksoft include Business Intelligence Applications, Data Warehousing, Data Integration, Application Migration and Solution frameworks that address specific business requirements to its customers. They help businesses identify their pain points and provide solutions that are a combination of domain knowledge and expertise, which helps them improve processes, maximize profitability and manage risk.

Saksoft has a CMMI maturity level 5 accredited quality system. Established in 2000, it is headquartered in Chennai and spread over eight locations worldwide with operations in United States of America, United Kingdom, Singapore and Germany


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by Nadhiya Mali (few years ago!)

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