Ramco HCM grows 109% YoY, clocking 2 wins every week;
Launches HCM product for Americas with local Payroll
Chennai, India – November 6, 2015: Ramco Systems (BSE - 532370, NSE – RAMCOSYS); a global enterprise software company focusing on enterprise cloud platform, products and services, today announced the results for the second quarter of 2015-16.
For the quarter ended September 30, 2015 (Q2:15-16), global consolidated income of Ramco Systems Limited stood at USD 16.77m (Rs 108 cr). The net profit after tax for the quarter, amounted to USD 1.54m (Rs 9.9 cr) as compared to USD 1.14 m (Rs 7.1cr) the previous quarter showing a growth of 39% QoQ (in rupee terms).
- Revenue from markets outside India stood at 71%
- To capitalize on the market opportunity for end-to-end HR software in the West, Ramco launched its complete, yet refreshingly simple HCM in US
- Ramco HCM grew 109% YoY (vis-à-vis Q2 last year), beating its earlier record of 1 new win per week to clock on an average 2 wins per week
- Wins the most coveted ‘HR Vendors of the Year Award for Best HR Management Software’ in APAC competing against global established brands
- Ramco ERP showed consistent performance adding close to 1 new customer a week. Focus on select industry verticals like Logistics, Facility Management and Asset-centric organizations have started to bear result
- Wins the coveted 2015 ISG Paragon Awards for Innovation beating billion-dollar goliath’s
- Ramco Aviation announced strategic tie-up with Air France Industries KLM E&M to set up ‘The MRO Lab’ in Singapore. The lab will be the platform for rapid emergence and diffusion of innovative, high value-added, MRO solutions for the Aerospace industry and focus on areas ranging from Wearable technology to Optimization and Big Data among others
- To attract and retain high potential talent, Ramco announced ‘Fast track program’ for fresher’s and star performers which will enable employees to take up leadership roles within a short span
Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems Limited, said, “Our decision to focus on HCM with multi-country payroll as an offering has positively helped us capture the market share and the results have been encouraging. The HR Software market is going through a refresh cycle as organizations are looking for applications which can bring Mobility, ease of use and Gen-Y friendly features. By aligning our innovations to this market need, we have been able to capture market interest. With the entry into US, we now have a truly global play.”
Adding on, Mr. Virender Aggarwal, CEO, Ramco Systems Limited, said, “I am glad to see the R&D and Product focus is paving way for the growth of a global brand from India. Innovation has been our DNA. From leading Aerospace giant in Europe to well-recognized Advisory firm in Australia, Ramco’s R&D is getting global recognition. This further reinforces our belief that culture that fosters Innovation alone can help organizations thrive in these disruptive market conditions.”
About Ramco Systems:
Ramco is a fast growing enterprise software player disrupting the market with its multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ramco Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On Innovation front, Ramco has been focusing on moving towards Cognitive and Robotic ERP with features such as Mail It – a feature which enables users to transact with the application by just sending an email; HUB It - a one screen does it all concept built to address all activities of a user; Thumb It – mobility where the system presents users with option to choose rather than type values and Prompt It – a cognitive ability which will let the system complete the transaction and prompts the user for approval.
With 1600+ employees spread across 20 offices, globally, Ramco follows a flat and open culture where employees are encouraged to share knowledge and grow. No Hierarchies, inspiring workplaces with Cabin-less Offices, Respect work and not titles, among others are what makes the team say, Thank God it’s Monday!
Certain statements in this release concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Ramco Systems may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.--