ITC Infotech to focus on offshoring

ITC Infotech, a fully owned subsidiary of ITC Limited, is redoing its growth strategy and will focus more on offshoring services to ensure topline growth in the face of recession.

Offshoring is the relocation by a company of a business process from one country to another, typically an operational process, such as manufacturing, or supporting processes such as accounting.

According to Sanjiv Puri, managing director of ITC Infotech, “Over 50 per cent of our revenues come from Europe, about one-third from US and the remaining from domestic business. We are looking at an increase in offshoring of services. We aim to earn more than half of our revenues from offshoring. Also, with new regulations being imposed, we expect services like loyalty management, sales force automation, digital asset management, among others, would become our core focus areas for the banking and financial sector clients as well as for other verticals." Puri added, "During recession, pressure is on innovative services and in-depth knowledge in domain areas. ITC Infotech is gearing up for that too.”

Currently, banks and financial sector make up around 10-15 per cent of the company’s overall revenues. The company handles contracts in the range of Rs 1 crore to Rs 100 crore.

“As a company we grew by close to 50 per cent last year and during the first half of the current year. We have also increased our headcount by almost 15 per cent in the first half of the year. Currently we have around 3,000 employees across our offices in Kolkata, Bangalore and at the offsite development centre in US,” Puri said.

The company is looking at adding offices in Europe where most of its clients are based.

ITC Infotech has established a business consulting group (BCG) to provide specialised consulting expertise. It is now working on various consulting assignments including radio frequency identification (RFID), enterprise performance management (EPM), sustainability and loyalty management.