Comments
Four Soft, IT solutions provider to logistics and transportation industry, has begun to receive noticeable revenues from service outsourcing and SaaS (software-as-a-service) models. It signed deals with a few clients to the tune of $1 million through the newly-launched SaaS model.
The company, which is in the process of acquiring a BPO firm to expand to servicing its clients, has enrolled a US-based customer in April to offer IT support through Remote Infrastructure Management Service (RIMS).
“Revenues from SaaS and BPO would grow significantly this financial year. The initiative to offer servicing solutions has taken off well. The deal we signed with US client would fetch us $400,000 revenues. We have taken over management of their IT infra. We are talking to other customers to expand outsourced services such as data entry,” Mr Rajshekhar Roy, Chief Executive Officer of Four Soft, told Business Line .
Forecast
The company, which clocked revenues of $27 million including $22 million through legacy solutions in 2010-11, hoped to cross the $32-billion mark in 2011-12, including $7 million from new contracts lined up this year. Last year, Europe contributed $20 billion, with the US and Asia chipping in $4 million and $3 million, respectively,” he said.
The company, which had a workforce of 650 employees, would hire 50 more this financial year.
With a view to covering all IT-related aspects of logistics and transportation business, Four Soft launched e-customs product that factored in the local Customs norms to facilitate smooth transport of goods.
“Our clients are using third party services to complete this process. We have developed application for the US, India, the Netherlands and Canada,” he said.
Besides, the US and Japanese markets, the company began to expand South American market. “We have won two large customers there in the last few weeks,” he said.
Multi-year deal
It signed a multi-year deal with Mexican company Logistics Dynamic Corporation to offer its freight management application 4S eTrans and visibility system 4S Visilog on SaaS model.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.