Ramco has announced its latest ERP (Enterprise Resource Planning) offering – SRP (Services Resource Planning) for the services sector.
The cloud based solution aims to serve the ERP needs of service centric companies and organisations in the verticals like consulting, IT/ITeS, staffing, professional services and others.
Ramco SRP offers PM (Project Management) that is tightly integrated with HCM (Human Capital Management) and financial modules. It also supports both Milestone and T&M (Time and Materials) based project models. It further provides comprehensive project tracking with revenue recognition.
It has a unique resource management feature which allows an organisation to effectively optimise its resources across multiple assignments.
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“Professional Services is one of the fastest growing industry segments, globally. Interestingly, this segment had to either manage with multiple point solutions or mask into a standard ERP which is built for manufacturing industry. In order to address this segment, we invested in building an offering which would address people-centric and project-based organisations,” said Virender Aggarwal, CEO, Ramco Systems.
“With accessibility to real time information, Ramco SRP can boost an organisation’s ability to hire, train and retain workforce, implement projects efficiently, manage finances comprehensively and provide superior customer service levels. We soft launched this offering a few months back and the market interest has been upbeat. Having seen success with staffing firms, BPM players and captives of large multinationals, we decided to further enhance our market presence in this segment”, added Aggarwal.
Company’s cloud based revenue has grown by 110 percent in FY2014 compared to previous fiscal and for first time it has posted profit in the March quarter.
According to Aggarwal, company is seeing strong up take for cloud based solutions and 60-70 percent bookings are happening for the cloud. In terms of cloud based revenue share, it contributes around 15-20 percent to the overall revenues.
The Chennai based company earned total income of $45.45 million and its total revenue stood at $43.85 million for the ended fiscal FY2013-14. It has over 150,000 users and more than 1000 customers globally.
In recent years, Ramco’s business has grown more overseas than in India. In fact it earns around 69 percent of its total revenue from overseas market.