Cnergyis Infotech expects to double revenue this fiscal

HR software maker Cnergyis Infotech India expects to almost double its revenue by the end of this year on the back of its foray into a new product segment and contribution from overseas market, a company official said.

"We are currently almost clocking the revenue rate of about Rs 30 crore. It has been consistent in the last 14-17 months. We are looking at doubling our turnover every year and increasing the base here on. We are looking at crossing a turnover of Rs 60 crore, because ZingHR technology is helping us leapfrog as it is a scalable platform," Cnergyis Infotech co-founder Vivek Tikoo told PTI.

He said that the company has developed an independent product ZingHR which would contribute significantly to its growth. The product can be customised by any organisation and scaled up to manage employee count of around 1.5 lakh, he added.

The company has been making customised software for human resource management segment across all verticals since last 18 years.

"We are also getting huge traction in global geographies, so we have started to execute very large projects in Papua New Guinea. We have also set up operations in Australia and getting huge traction there. We are taking baby steps in picking up the South American market also," Tikoo said.

He said that the company is investing 46-50 per cent of its earning in product development and 20-25 per cent of its spend in reaching out to the customer.

"We are acquiring customer every 3 - 5 days. It's almost becoming like a e-commerce kind of market place though business-to-business can never become an e-commerce. We will more than double our revenues in the Middle East and Australia," he said.