Ramco to set up wholly-owned subsidiary in Philippines

Expects to tap market which is moving beyond BPO services

Enterprise software provider Ramco Systems has set up a wholly-owned subsidiary in Manila, Philippines to address the market opportunity in the country.

As the second largest populated nation in ASEAN, Philippines has been witnessing the fastest economic growth among the countries in the region. The company has set up its fourth office in the region and will employ local talent as the IT sector in the country is moving beyond business process outsourcing (BPO) to include implementation of cloud-based technology to transform local enterprises in the area of ERP, HR, Payroll, Aviation and logistics, said the company.

"We are opening an office in Manila to enable local enterprises to leapfrog to cloud technology and derive significant business benefits," said P R Venketrama Raja, vice chairman and managing director, Ramco Systems.

"Given the excellent technical manpower in Philippines - it will also serve as a base for addressing our clients in the ASEAN region. With focus on innovation and cloud, we look forward to becoming the region's most favored cloud enterprise software provider," he added.

The company has its regional headquarters in Singapore and offices in Malaysia and Hong Kong. For the year ended March 31,2016, Asia Pacific contributed 29% to the overall revenue. The company recently set up an 'Innovation Lab' in Singapore funded by the Singapore Government with anchor partner Air France lndustries & KLM Engineering (AFIKLM). Ramco in Kuala Lumpur (Malaysia) has transformed itself into an R&D and support hub for HR & Global Payroll requirements, it added.