Ramco Systems rises after signing agreement with Aden Ports

Ramco Systems rose 3.96% to Rs 621.55 after the IT company announced that it will provide its Enterprise Resource Planning (ERP) software to Aden Ports Development Company (APDC) at their Aden Container Terminal (ACT).

The association between the partners, which began in 2009, will see the upgrade of ACT's HR, payroll and financial accounting capabilities, modernization and digitisation of existing applications, and introduction of newer technologies and innovations such as Payroll Hub, Accounts Payable/Accounts Receivable hubs, as well as mobile apps, with a sleeker and more comprehensive dashboard.

Ramco's HR & Payroll modules will provide reporting capabilities to enable ACT's management to make on-the-spot decisions for payroll, bonus, leave and attendance, while the financial accounting module will cover items such as accounts payable, accounts receivable and the general ledger, all on a unified dashboard. The implementation of these new features will minimise manual processes and human intervention, thereby enabling the company to reduce its paper usage.

 

The Aden Ports Development Company has operated the Aden Container Terminal (ACT), the largest container terminal in the Republic of Yemen, since September 20th, 2012.During this time terminal throughput has increased from 260,000 TEUs to the current handling rate of over 500,000 TEUs/year.

Virender Aggarwal, CEO of Ramco Systems, said, "We are excited to further our partnership with ACT; it has been over a decade of working together, and we are happy to provide a more comprehensive service to our long-term customer. As trends such as e-commerce are being pushed to the forefront amidst the COVID-19 pandemic, we are confident that the software will enable ACT to digitally transform their operations, translating into quicker turnarounds at the port."

Ramco Systems is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprisesoftware in HR and Global Payroll, ERP and M&E MRO for Aviation.

On a consolidated basis, Ramco Systems' net profit tanked 58.90% to Rs 7.45 crore on 12.55% decline in revenue from operations to Rs 149.86 crore in Q4 March 2021 over Q3 December 2020.

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