Ramco Systems announces 42% year growth in second quarter results

Ramco Systems the provider of enterprise cloud platform has announced its results for the second quarter of FY 2014-15. The Global income of the company including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, Australia, South Africa, Sudan  and Dubai stands at USD 14.61m (Rs 87.4 cr). The revenue also highlights growth of 12.4% QoQ and 42% YoY in terms of dollars.

Speaking about the increasing revenue and growth, P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems Limited, said, “Indian IT is at a major inflection point with a surge in IP-led product firms emerging from India. This is the next ‘sunshine’ segment for Indian IT which is battling immense cost pressures and low degree of differentiation in the global market. With three successful cloud offerings well accepted in the global market, we are well poised for a global play in the enterprise cloud market.”

Along with this, the company is also focusing adding more products to its portfolio in order to offer more to its users. Ramco also introduced ERP on wearable devices such as Google glass and Smartwatch. The company introduced hordes of features incorporating use of Google Glass in a Maintenance scenario, Procurement and Inventory management on Pebble Watch, solving last-mile connectivity and logistics using In-memory computing (IMC) among others.

Commenting on the rising trend of postmodern ERP, Virender Aggarwal, CEO, Ramco System, said “Globally, there is a shift in the way ERP applications are being consumed. The era of seeing ERP as a ‘system of record’ is passé. Enterprises are looking for IT applications to solve business problems. Our platform based approach to building ERP has enabled us to launch solutions on Wearables and integrate with in-memory based engine to deliver business value to users. This is the future and we are among the forerunners in this game.”