Chennai-based Adrenalin eSystems, a group company of Polaris Software, is looking at entering the US market besides expanding in Europe with its HR automation solutions in 2009-10.
Chief executive officer of Adrenalin eSystems Balaji Ganesh said the company was planning to enter the HR automation market in the US, valued at $1.6 billion, by 2011 and also other potential markets in Europe like Germany.
The HR solution provider has clients in West Asia, and Far East apart from UK. The company entered West Asia and Far East markets in June 2008, it had since acquired 8 and 4 customers in these two markets respectively.
Ganesh said the company was targeting to add 100 new clients in 2008-09 to its current customer base of around 300. Of this, 80 customers are already on board and by the end of March, 20 more would join the list.
Adrenalin is also planning to increase its research and development team by 30 per cent in 2009-10 from the current 100.
On the current slowdown and offtake of automation solutions, Ganesh said the delay was only in terms of time but not on the front of product offtake. “Companies, which used to take 2 months’ time to buy the products are now taking 4 months.” Most of the delays are from West Asia and also Singapore as it is directly linked with the US.
However, he said the current slowdown had increased the demand for automation products since companies were now looking at cost cutting measures. Adrenalin expects to close the current fiscal with a revenue of Rs 21 crore as compared with Rs 16 crore in the financial year 2007-08.
