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Our Bureau

To have 700 employees in the next one year

Kolkata , Nov. 15

City-based R S Software (India) Ltd, which is focused on the niche domain of electronic payment systems, is increasing its staff strength here. The company is also adding 60,000 sq ft of space at its Salt Lake facility here at an investment of around Rs 8 crore, according to Mr Raj Jain, Vice-Chairman & Managing Director of the company.

Addressing a news conference here on Wednesday, Mr Jain said around 90 people would soon be added to the company's existing pool of employees, that currently numbers 507. Within the next one year, the total number of employees would go up further to 700.

Product Development

The augmentation of manpower was being done keeping in view the proposal to scale-up operation in domains such as applications management, technology solutions and IT outsourcing. The company was also open to the idea of acquisitions in the two sub-segments within the electronic payments industry — issuing software and analytics. Mr Jain, however, declined to divulge further details on this score. Essentially a software services company, R S Software was now giving thrust to product development as well.

"In the quarter ended September 30, 2006 we have sold a new product developed recently by us in the merchant management space. In association with Tower Group of US, we have undertaken a detailed market research for the product," Mr Jain said. In terms of geographies, the company is looking for access to the Asia and Pacific, away from its traditional market in the US and Europe.

It is currently working for Keosera of Japan in the area of printing solutions with embedded technology, according to Mr Jain.

The company also plans to set up a "School of Payments" in the city, which would impart education on payments solutions to engineering graduates and students in the IT space. The proposed school is likely to see the light of the day early next year.

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