Tcs Eyes Europe For Banking Software

A package aimed at the upper-end European and Swiss investment bankers is almost ready. The company already has two undisclosed banking customers for these products in the European market.

The first of these packages would be off-loaded during the first quarter of 1997. Tata Consultancy has linked up with Financial Objects, a United Kingdom-based company specialising in package marketing for pushing this product which is priced at $1 million.

Another product aimed at the apparel industry is also slated for launch during the same period. It would be tightly integrated for styling and other composite functionings of the apparel industry.

 

According to L C Singh, senior vice president, Tata Consultancy Services, the software engineers at the company's Pune centre have been instrumental in the development of this package.

With there existing a generation differential between this product and the existing packages available in the market, the apparel software is expected to perform well internationally. The software would be priced between Rs 6-30 lakh.

Another package for corporate accounting is also planned for launch during 1997. Tata Consultancy hopes to grab a 30 per cent share of the market for such software worldwide by 1998-99. In the first five months of the current financial year, the company's turnover has grown by 30 per cent. The software export segment is expected to grow at around 45 per cent this year. It has been growing at a compounded annual growth rate of 55.6 per cent during the last four years.

However, software companies which previously enjoyed 100 per cent tax rebate for exports have to pay a minimum tax of 12.90 per cent of their book profits now.