Icertis forms CluodMoyo to spin out cloud business

US-based ERP-surround solutions in the Microsoft cloud today announced that it is spinning out  its cloud solutions and services business into a new company, CloudMoyo. The new company will have a dedicated focus on cloud and data analytics based ERP-surround enterprise solutions for the high tech life sciences, and transportation industry verticals, and accelerate growth in this market while Icertis will solely focus on its industry leading and analyst recognized, cloud-based enterprise contract management business. Manish Kedia has been appointed as new CEO and president of CloudMoyo.  

Earlier, Icertis has developed Icertis Transportation Management System (ITMS) to cater to all transportation management requirements and emerging supply chain execution challenges. It is a product suite developed to volatility in fuel prices, unpredictable capacity requirements, increasing customer demand for improved serviceability, growing modern trade, and changing regulatory environment are the key concerns for transportation operations in today’s marketplace.

“The cloud and data analytics based ERP-surround solutions market is forecast to grow to over $100 billion in the next three years per industry analysts. CloudMoyo is poised to continue to lead in this fast growing market owing to its unique capabilities at the intersection of cloud and data analytics. The company’s innovative approach will help customers reimagine their business,” said Samir Bodas, Chairman, CloudMoyo.

He added, "CloudMoyo is a born in the Microsoft cloud company that brings disruptive technologies together to offer our customers modern enterprise cloud solutions informed by big data insights."

However, Bodas did not disclose any financial details or investment of the newly form company.

Kedia said, "Cludmoyo is positioned at the intersection of business and technology, allowing them to quickly come up to speed with our complex processes and business requirements."

Icertis has also developed Lifecycle Management product (ICLM) on Windows Azure in India.