Iteamic, an emerging IT software services company, is participating in IndiaSoft 2008, a buyer program organized by ESC [Electronics and Computer Software Export Promotion Council] on March 20 and March 21, 2008 in Hyderabad, with a view to expand its market.

With countries from South America, Africa, CIS and ASEAN participating at the event, Iteamic is eyeing business opportunities in these emerging markets where the use of IT applications and toolsisgrowing.

Iteamic already has an international exposure. Though the US is the principal market for Iteamic, it has established presence in Switzerland in the last two years. It is also active in Hong Kong and Indonesia. The company has also serviced clients in the UK market and executed various assignments in Malaysia.

Commenting on the participation at the IndiaSoft 2008 event, Niyogi Krishnappa, Vice President – Projects, Iteamic said: "For a company, diversified geographic portfolio of revenue generation is important for stability. So diversifying outside of US is important. IndiaSoft 2008 is a great opportunity for us to meet potential clients and establish partnerships."

Sponsored by Ministry of Communications & IT, Ministry of Commerce & Industry, Government of India and STPI, last year, IndiaSoft generated approximately Rs 2,000 crore in business for participating companies.

Though many Indian small and medium companies are looking at markets outside North America for growth in view of the anticipated slowdown of the US markets, Iteamic is insulated from any such disturbance.

Niyogi says: "We are not really experiencing any direct impact of the US recession since we have stable clients. In the recent past, the only impact our business experienced was due to the fall of the exchange rate of the US Dollar against the Indian Rupee."

However, Iteamic is keen on spreading its revenue base from the geography point of view. "Business development outside the US takes longer and the sales cycles are time consuming. Also, the acceptance of non-local companies is poor. So, in that sense, exploring business outside US is a slower process. On the upside, it is steady business once you have established some ground," explained Niyogi.

Using IndiaSoft 2008 as the platform, Iteamic will explore untapped markets where technological developments have been limited. "For SMEs, it is much easier to germinate and grow in emerging markets like Europe, Russia, Africa, South America and Asia," said Niyogi.

Iteamic will be showcasing their services in Financial Services, Education domains and Product Collaborative Development.

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About Iteamic: Iteamicis a leading provider ofGlobalITSolutionsandConsultingServices for established and emerging companies,with exceptional domain knowledge in the financial servicesand education sectors. It offers software development and application management services built on their expertise in niche proprietary, open-source and legacy technologies using proven methodologies for sustainable business transformation. Certifications currently include SEI CMMi Level-3 and ISO 27001. Established in 2003, Iteamic has operations in San Francisco, New York, Bangalore and Geneva. For more information, visit www.iteamic.com