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Monday, Sep 02, 2002

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Strategic rejig yielding results, says VisualSoft

V. Rishi Kumar


EVEN as its initiatives to foray into the IT-enabled services (ITES) space are in progress, the strategic shift of VisualSoft Technologies Ltd, the Hyderabad-based IT products and software services company, from a dominant products to services firm to position itself as an end-to-end solutions provider, has begun to yield results. The company has projected a growth of 25 per cent in solutions business.

According to the Chairman and Managing Director of VisualSoft Technologies, Mr D.V.S. Raju, despite the product downturn, the company's continued focus on R&D had yielded results and the research initiatives had helped the company to integrate a few products to match various technology platforms.

Based on the global outlook and various research reports, the company had transformed the Technology Excellence Group (TEG), created last year, and brought in increased focus on research and development. This group has been playing a vital role in driving the company towards advanced technologies and design of frameworks and architectures to suit different industry verticals.

In the company's management discussion and analysis, it has been highlighted that the business transformation process which was initiated last year has begun to shape up the company's future to serve as an end-to-end solutions provider encompassing software services and products and leverage the potential in the business process outsourcing (BPO) space.

The VisualSoft management maintained that despite the current slowdown and lower off-take of the products in the marketplace, the company was confident of achieving a minimum growth rate of 25 per cent in the solutions segment this year. Further, the planned foray into the BPO space will yield results in the financial year 2003-2004.

Following changes in the business environment, the company is working towards an appropriate product strategy. The possible scenarios include hiving off the product business into separate subsidiary and if required, inviting some strategic partners to take the products to new markets.

A decision on this issue would be taken in the next few quarters, Mr.Raju observed in the company annual report for 2001-2002.

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