Financial Daily from THE HINDU group of publications
Saturday, Jun 14, 2003
Financial Daily from THE HINDU group of publications Saturday, Jun 14, 2003 |
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Info-Tech
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Outsourcing Vertex, Furukawa in pact for IT outsourcing Our Bureau
PUNE June 13 THE Pune-based Vertex Software Pvt Ltd, a 100-per cent export-oriented software company, on Friday announced a strategic alliance with Furukawa Information Technology Corporation (FITEC), Japan, to provide IT outsourcing services. Talking to presspersons, Mr Ajit Patil, Chief Executive Officer, Vertex Software, said with this alliance in place, a dedicated offshore development centre (ODC), the first of its kind from FITEC, has been set up in Pune. The ODC would cater to new business areas of maintenance of work for social infrastructure systems such as telecom and utility as also network area for operational business. He said the ODC would cater exclusively for FITEC for the development of new technological products and would have staff strength of 20 personnel. Mr Kaz Masuda, President and Chief Executive Officer, FITEC, who was present on the occasion, said FITEC is proposing to "give difficult assignments to the ODC and take this technology back to Japan for showcasing it". He also noted that FITEC was looking at Vertex as a strategic partner for the new business initiatives. He noted that presently about three per cent of outsourcing is being carried out from Japan to the other markets and the target was to increase this to 30 per cent. Vertex, which has revenue of Rs 7 crore, has a market share of 78 per cent in the Japanese market during the previous fiscal. The target is to touch 90 per cent revenue growth from the Japanese market with this new alliance in place, Mr Patil said. Mr Patil pointed out that Japanese market was known for its high entry barrier essentially because of three key reasons, the language barrier, the difference in business culture and high degree of perfection in quality and schedule expected by the Japanese customer. Continuous programmes in Japanese language are being carried out in the company to overcome this.
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