Iteamic Plans Expansion In Tier II Cities of Karnataka
In an Informal Interaction with the Media Iteamic reveals its expansion plans
Tweet-- Nascent in the IT industry, Iteamic is not infantile. Just over 4 years old, Iteamic has been growing 100% year on year and has reached a headcount of 250 people and focuses on an assertive expansion plan in the state of Karnataka
"We feel excited when we realize that we have created jobs for 250 people," said a beaming Raghurama Kote, The Founder and Chief Executive Officer of the company. Flanked by his Co-founders Krishnappa Niyogi and Manjunatha Bageshpura, Mr. Kote, slipping into a reminiscent mood, said the company had a turnover of Rs 2.5 Crores in the first year and then marched towards crossing Rs 32 Crores by March end. The turnover was expected to cross Rs 50 Crores by 2010 through an aggressive growth plan when the headcount was also likely to cross 1000 from the present strength”, he explained.
On the expansion programme; “the Mangalore facility with a 100 seat capacity would come up soon with expansion plans to establish in other Tier II cities on the cards, the ultimate objective is to create a large organization which focuses on specific purpose with a sense of belongingness among the employees. The immediate next target was to secure a certification from the US on Project Management Institute”, he added.
“Creation of a congenial working atmosphere and the bonhomie among the colleagues has reflected in the lowest attrition rate of four per cent (perhaps the lowest in the industry) as compared to the industry average of more than 30% in its segment. More than half of new recruitments have been through employee referrals and the offer rejection percentage is almost nil, as compared to the industry rate of 50%.” said a proud Mr. Niyogi Krishnappa the Co-founder and Vice President of the organization.
A repetitive business from their clients reflects the company's credibility in maintaining its time schedule and quality. The company had recently entered into a strategic alliance with ECI, a San Francisco based company to offer compliance consulting and software services, helping publicly traded companies regulate their financial reporting. With its vast knowledge on education administrative systems, Iteamic had also started developing solutions around education domain expected to target the European and Asian markets.
The founders of Iteamic also expressed their views that the Government of India and NASSCOM should create more forums focused on SME’s which will create an environment of trust between the SME’s to participate in larger deals. SME’s which are contributing nearly 40% of export earnings are completely ignored by the authorities. Government could start awarding its IT business to only SME’s such that the SME business class can grow with a lot of indirect support from the government. Also, the STPI scheme must be extended beyond 2009; otherwise it will be like killing the baby girl before it’s born.
Notes to Editor
ABOUT ITEAMIC:
Iteamic’s initial focus was providing integrated business and technology solutions and services to established and emerging companies globally in the West Coast of America, where the four partners individually gained admiration of their clientele. The primary focus has been providing services to the financial services vertical and the education domain with software development and application management services built on expertise in niche proprietary, open-source and legacy technologies.
Established on 21 November, 2003 by four like-minded people – Raghurama Kote, Krishnappa Niyogi, Girish Ramachandra and Manjunatha Bageshpura hailing from middle-class background, these first generation entrepreneurs came together with an intention to build an organization on the basis of Honesty, Integrity, Reliability, values they all strongly believe. Iteamic’s vision is to build an organization where employees are proud to be part of, and clients thrive to partner with.
Raghurama
Founder & CEO
Mail: rkote@iteamic.com
Phone: +91 80 6618 3009
Fax: +91 80 6618 3024
Mobile: +91 98451 76945
Url: www.iteamic.com