Quote-to-cash solution provider Apttus on Thursday announced its plans to invest $35 million (about ₹234 crore) in the next three years in India.
The investment includes $15-20 million over 12-18 months in Bengaluru, where the company on Thursday officially opened its development centre.
Quote-to-cash is an Information Technology term for integration and automated management of end-to-end business processes.
The centre is a combination of sales office and product development spaces that will house 200 employees and leverage the best of HR practices, Apttus said in a statement.
The Bengaluru centre will primarily focus on product development, engineering, patent, innovation, R&D, and sales and marketing, the statement said, adding that it would hire 150-200 people in 1-2 years.
“The opening of our second centre in India, after one in Ahmedabad, is representative of our commitment to our product and our customers,” said Jesal Mehta, GM – India, Apttus.
With the opening of its centre here, Apttus has also been aggressively trying to enter the emerging market in India for addressing the need for quote-to-cash processes, it said.
Apttus is primarily operating in the enterprise business, and moving forward it will also start working in the SME business, the statement said.
According to a Gartner report, the QTC market is projected to grow to $41 billion by 2018. The India operations of Apttus Inc started in 2012 in Ahmedabad with a five-member team, which has grown to 250 members as of 2016.
Apttus is a Silicon Valley-based company which got its first round of funding in 2013 and has till date raised $186 million.