India offers great opportunities to scale up operations and hire more engineers at a time when industries -- especially the banking, financial services and insurance (BFSI) sector -- are redefining operations to deliver enhanced customer experiences on the edge devices like smartphones, Paul Mountford, CEO, Riverbed Technology, said on Friday.
The IT and performance management company experienced subscription and software-as-a-service (SaaS) bookings growth of 89 per cent globally, and a massive 300 per cent growth in India.
"India is an important market for us and we would definitely scale up our investments here, along with hiring more engineers for our Bengaluru R&D centre. We registered 106 per cent growth (year-on-year) in product sales bookings in the country last year," Mountford told IANS.
"We are uniquely positioned to provide a unified and integrated Digital Performance Platform and enable organisations in India maximise performance and productivity," the Riverbed CEO noted.
With more than $1 billion in annual revenue, Riverbed's over 30,000 customers include 98 per cent of the Fortune 100 and 100 per cent of the Forbes Global 100 companies.
"The company is enjoying significant market momentum and with a total addressable market of more than $30 billion, we are well positioned to grow in the digital world," Mountford noted.
Riverbed said it recorded 100 per cent (YoY) growth for its "SteelCentral" end-to-end solution in India, pointing to a major shift in focus on digital experience among the businesses.
A 2018 study by the digital networking solution provider showed that while almost all business decision-makers in India agree that optimising digital performance is essential for the growth of their businesses, about two-thirds of them face critical digital services and applications failures at least a few times a month.
Riverbed's networking optimisations tools have helped many organisations in India, including in the public sector, to achieve faster transactions for their customers.
One such organisation is the Indian Railway Catering and Tourism Corporation (IRCTC) that handles online ticketing operations of the Indian Railways.
"Our SaaS and subscription-based products are finding wider acceptability in India. The customers here understand the value that Riverbed can deliver to them," he added.
Riverbed's "Digital Performance Platform" brings together a powerful combination of Digital Experience Management, Cloud Networking and Cloud Edge solutions that provides a modern IT architecture for the digital enterprise.
(Nishant Arora can be reached at firstname.lastname@example.org)
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