Progress Software sees huge growth in India

MUMBAI, INDIA: Global software firm Progress Software Corporation is bullish about its Indian business, as the use of cutting-edge technologies are on the rise in the country.

“For our software solutions and products, we are targeting banking and financial services, capital market, supply chain and communication sectors in India,” said Keith Budge, vice president and managing director- Asia Pacific & Japan, Progress Software.

“India is a significant market for us. Today, global as well as local system integrators (SI) are focusing more on India, as it is an attractive market to sell software solutions and products,” Budge told CIOL in a an exclusive interview.

According to him, there’s a sharp increase in the use of cutting-edge technology solutions in India and he pointed that sectors like the BFSI, telecom and BPO are the early adopters of new technologies.

The NASDAQ-listed firm has over 12,000 customers in the Asia Pacific region including India. It operates business in five parts across the region that includes Australia-New Zealand, Japan, North-East Asia, South-East Asia and India. Australia tops the Asia Pacific region in terms of overall business share, while India contributes around 10-15 per cent a year.

Progress' business, however, is largely driven by its next generation business solution Responsive Process Management (RPM) suite, which enables enterprises to achieve possible higher level of business performance.

“More than 80 per cent of our business come from the RPM suite in India. Globally, it’s very significant as there is no such a suite anywhere in the world,” Budge continued. “We are looking for a 30 per cent growth in India for the next year. We are seeing a huge opportunity, particularly in the banking, financial securities and communication sectors.”

The company is also planning to strengthen its research and development (R&D) capabilities in India. “We will add 200 people over the next 6-9 months, which would be in the R&D space,” Budge concluded.

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