With the domestic market for independent testing solutions in India opening up, Thinksoft Global, a software testing solution provider for the BFSI segment, plans to double its revenues from India over the next two years.
According to Nasscom, the Indian independent software testing market is expected to generate revenues of about $2.3 billion in FY 2011, a 23 per cent growth from revenues the segment generated in 2010. Also, the Indian testing segment is expected to be about $15 billion by 2020.
The company, which currently gets most of its revenues from overseas customers, is increasing focus on serving domestic customers, and hopes to double its revenue share from India in a year, Mr Asvini Kumar, Managing Director, Thinksoft, told
Thinksoft today gets most of its revenues from Europe and the US, and about 8 per cent of its revenues from India.
Considering that the BFSI sector accounts for almost 50 per cent of the testing business, Mr Kumar looks at the penetration of mobile banking and growth of the usage of cloud computing as factors that will bring about the need and demand for software testing solutions in India.
“There are also gaps that result from change in regulations like the Basel 3 coming in or the Dodd-Frank regulations,” Mr Kumar said, adding that the company is open to collaborations/joint ventures with domain experts in sub-verticals to help address this gap.
“We are also open to acquiring small companies in areas adjacent to testing to help expand the service offering,” Mr Kumar said.