The year gone by had been a challenging one. Despite tough times we have come out withprofits. Our strategy of farming existing customers and hunting new geographies hasyielded good results. This shows that our customers trust us with their mission-criticalcustomer interfacing processes and are happy to do business with us. Our hunting strategyhas resulted in getting two new deals in matured markets.
Our UniServe NXT platform on the other hand is showing a lot of promise. In the nearfuture where connected things artificial intelligence and highspeed data are going to bethe norm every enterprise needs a digital technology platform to explore new businessmodels and deliver contextual customer experiences. Our low code rapid applicationdevelopment platform with its niche data management capabilities will make us a nicheplayer in the digital transformation domain.
Following are the major developments of the FY17-18:
To optimise our expenses in the backdrop of making huge investments ininfrastructure related to managed services contract and also to makeup for the delay inrevenue realisation from the account we had to undertake cost-cutting measures. Thefollowing are the measures that were taken to optimize costs:
Marketing spend with respect to participation in events analyst relations andpublic relations was reduced
Investments on expanding our presence in matured markets were kept on hold
We have optimised our operations costs including manpower With these timelystringent measures in place we were able to ride the tide and record decent revenue.
However the good news is that the longstanding delays in implementing managedservices contract with a publicly owned telecom company in India are over. The project isback on track and implementation is underway at a rapid rate. With this achieved we aregeared for investments in marketing and sales.
This year also saw us strengthening our foothold in the banking and insurancedomains in the domestic region. Leading insurance companies trust us for theirmultichannel customer engagement.
Our hunting strategy has resulted in expanding our brand in the matured markets.Though the investments in sales expansion in the matured markets were on hold we stillhave two leading telecom operators one in Europe and the other in Latin America trustingus to enhance their customer experience through digital channels.
While these developments were taking place our technological innovationUniServe NXT platform has generated a lot of interest amongst the customers andpartner community. The low code platform with its Rapid Enterprise Application Productioncapabilities gives enterprises the ability to enable their services digitally. Followingare the business benefits they reap:
Enhanceed customer experience with personalised customer journeys with the helpof DevOps platform
Implementation of 2-speed IT to reduce software development and deliverytimelines by more than 50% and build agile process
Break data and process silos using data virtualisation capabilities ofUniServe NXT
With these formidable value propositions that every business is vying forUniServe NXT platform is quintessential for organisations to become trulycustomer-centric.
This year we have been positioned in the Aspire Leaderboard 2018 grids ofBusiness Automation as 'Leader' and as 'Focused' in the Overall Leaders for CCM. We werealso featured as one of the 20 most promising BPM solution providers of 2018 in theglobaledition of CIO Review magazine. These are additional feathers in our already embellishedcap and establish the credibility of our solutions in the global market.
From now on we will be expanding our sales and marketing reach in global marketsrigorously pursuing solutions built on UniServe NXT platform cloud offering of ourstandalone solutions to penetrate domestic markets and engage with system integrators andexisting customers to build new solutions using our platform.
With these we are confident of seeing a better future for the company. We thank allthe stakeholders - shareholders customers partners employees financial institutionsand banks for reposing their faith in the company.
C. K. Shastri
Chairman & Managing Director