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— Anand Parthasarathy

The IBS Group Chairman and CEO, Mr V.K. Mathews, flanked by the Senior Vice-President (Cargo Business), Mr Akshay Shrivastava (left), and the Chief Operating Officer (Asia-Pac), Mr Abhishek Mitra, addressing the media in Bangalore.

Our Bureau

Bangalore, Aug 14 IBS Software Services, which has bagged a five-year contract from Kingfisher Airlines for its iCargonet software, aims to garner $100 million a year from the product for which it already has 13 customers globally.

An IT solutions provider to the travel, transportation and logistics industry, IBS Software offers a range of products and services that manage mission-critical operations of major airlines, oil and gas companies, seaports, cruise lines and tour operators worldwide.

Addressing a press conference here on Wednesday, Mr V.K. Mathews, Chairman & Chief Executive Officer, said that with the cargo traffic estimated to grow three times in the next 17 years to $600 million, IBS hopes to garner a big share in the solutions market for the industry.

He said iCargonet provides a unified, enterprise-wide solution to help manage the entire cargo business from planning, sales, operations, ground handling, and unit load device management to cargo revenue accounting and revenue optimisation functions, said Mr Mathews.

The airline had chosen to induct IBS software as a cost- effective tool to manage its cargo. Kingfisher is currently handling only ‘belly-cargo’ and does not operate a freighter service.

Mr Mathews said the IBS solution will help Kingfisher Airlines with scalability to support its growth plans and offers flexibility to adapt to the changing business needs of a rapidly evolving market.

IBS, which aims to reach a revenue target of Rs 1,000 crore by 2010, through organic and inorganic routes, is planning to make its sixth acquisition next year.

This year, Mr Mathews said, the company would be focusing on consolidating its existing business, whose revenue grew 30 to 50 per cent year-on-year, said Mr Mathews.

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