It is with pleasure that I present to you our annual report for the year ended 31March 2016. 2015-16 has been a year of resilience with many rewarding moments as well assome challenges.
Cloud and Big Data fuelled by Artificial Intelligence and Machine Learning will definenew and redefine existing industries thereby transforming data into a valuable knowledgeasset and a catalyst for disruption. Big Data will be the next natural resource like airand water. Companies globally realize the potential of data science ArtificialIntelligence and machine learning. CT is at the forefront of offering end to end servicesto leading enterprises as well as most innovative tech-based startups in the US.
CT aims to achieve revenue run rate of two million dollars by March 2017 invest in 50companies by March 2019 via CI and get to minimum scale. We have reached the halfway markand our performance has been in line with our business plan. One year into the businessplan we are focused on achieving minimum scale and execution and making CT a recognizedleader in transformational business with a focus on the convergence of cloud and big datapowered by Artificial Intelligence and Machine Learning.
Performance: CTs performance is on track and consistent with the growth thatit has delivered through FY16.
Focus on Verticals: CT is focused on building referenceable clients in itsverticals: Energy and Utilities Life Sciences and Pharmaceuticals Industrials BFSIData Infrastructure Rapid Prototyping via Cambridge Innovations and Managed Services viaCambridge Bizserve.
Global Presence and Competency Centers: In line with providing its global clientsaccess to 24/7 development cycle CT reinforced its U.S. presence with six offices andexpanding its offshore delivery centers in India across Hyderabad Bangalore and Chennai.Furthermore the company realizes the significance of trained and skilled employees andhas invested heavily into training employees via its competency centers in India and theU.S.
Partnerships: CT has strengthened its partner ecosystem achieving Platinum Partnerstatus with Oracle Premier Partner with Amazon Web Services while building partnershipswith Pentaho Apica Systems ForgeRock Rackspace Tableau and New Relic. Through itspartner network CT gains access to the best technology framework and solutionsstrengthening its delivery capabilities.
Team: CT continues to invest in talent acquisition. Although hiring remains achallenge the company has increased its team strength adding over 100 employees to itsexisting global talent base.
We are in a people business. Our mission is singular: to support great people. We areonly as good as the people around us. We only recruit people who are better than uspeople who are better than you help improve you and help improve the organization. Yourcompany is a home for the best and the brightest in the world. That is your companysculture as we believe that the success of an enterprise is undeniably in great leadership.At CT it is our constant effort to develop and nurture leaders. We invest in recruitingand training the future leaders of CT which we dont amortise but is an investment.
Launched in Q4FY16 Cambridge Bizserve (CB) is a vertical focused to effectivelymanage business processes and provide business insights through analytics to our clients.
Launched in Q3FY16 Cambridge Innovations (CI) is a fast growing vertical forCT helping CT generate revenue attract and upskill talent while providing financialupside through equity participation in the companies it helps.
The outlook for the next year looks promising as we position ourselves firmly to driveprofitable growth and deliver value to our clients and shareholders; we have made progressbut are still at the halfway mark on our business plan. We are happy to have achievedresults in line with our business plan. Our focus is to achieve our goals through internalaccruals and deliver sustainable shareholder value. The progress we have been able toachieve is via the belief you share with us.