InfoSTEP sets up CoE in Hyd

Plans to invest $5mn in BPM offshore facility

InfoSTEP, a provider of business intelligence and corporate governance solutions, has set up a Centre of Excellence (CoE) for business performance measurement (BPM) in Hyderabad.

The company plans to invest up to $5 million in this offshore facility and hire around 100 people in three years. The offshore facility is expected to contribute to around 20 per cent of its revenues.

Addressing the media, Sanjeev Kumar, chief operating officer of InfoSTEP, said, "In 2006, we will focus on customer support, customer data, vendor performance and corporate governance, in 2007 we will expand to other hi-tech processes followed by newer verticals in 2008."

"We will be hiring around 50 people (including compliance specialists) in 2006 and then increase our headcount to 65 in 2007 and 100 in 2008," he added. The company will be spending between $1 million and $5 million at the facility in three years.

InfoSTEP ended 2004 with a turnover of $3 million and expects to touch the $4 million-mark in 2005. "In 2006, we are targeting revenues of $9 million, followed by $15 million in 2007 and $35 million in 2008," Sagar Anisingaraju, chief executive officer of InfoSTEP, said.

Of these numbers, the company expects BPM to contribute $7 million, $11 million and $20 million in 2006, 2007 and 2008 respectively.

The privately held company, which has clients like Cisco Systems, Sun Microsystems, Symantec and Business Objects, is headquartered in Santa Clara, California.