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Navision to invest $3 M on business expansion
Tuesday, 06 July 2004, 19:30 IST
NEW DELHI: Navision India, a leading IT solutions provider for small and medium enterprises, has earmarked an investment of $3 million in the current fiscal to expand its operations in the domestic market.
The company, an exclusive distributor of Microsoft Business Solutions, plans to unveil a slew of India-centric IT solutions over the next few months to enhance its presence in the small and medium enterprises market segment.
"We are very bullish about the Indian market and especially the potential of small and medium size companies," said Yash Nagpal, managing director of Navision India.
"We invested about $2 million last year and this year we have decided to invest an additional $3 million. The bulk of the fresh investments will go into boosting our marketing efforts," Nagpal told IANS.
"Navision has already managed to build a strong base for itself in the Indian market since its establishment in April 2001. We want to further strengthen our relationship with Indian companies."
Nagpal claimed the company had built a customer base of 180 companies, mostly small and medium size firms, and planned to ink 25-30 deals a month in the current fiscal.
Navision India has developed IT solutions for a wide spectrum of industry verticals such as agriculture, automobile, pharmaceutical and retail by making use of its localisation strategy that seeks to make its products India-centric.
Some of the company's leading customers include Mid Day Multimedia Ltd., Adlabs Films Ltd., Max Healthcare Institute, Hero Mindmine, Dun and Bradstreet Information Systems and Shyam Telecom Ltd.
Navision India last month signed a 
20-million contract with Andhra Pradesh Power Generation Corporation, India's third largest power utility company, to implement IT solutions across all its power generating stations.
"The localisation issue is very important for us since the requirements of small and medium enterprises in the Indian market are very different from the rest of the world," said Nagpal.
"The total IT spending in India per annum is 100 billion and 37 percent of this comes from the small and medium enterprises segment. This size is expected to grow rapidly over the next few years.
"With small and medium enterprises realising fast that they would have to deploy IT solutions to stay profitable, we see sharp growth in the demand for our products," he said.
Source: IANS
20-million contract with Andhra Pradesh Power Generation Corporation, India's third largest power utility company, to implement IT solutions across all its power generating stations.
"The localisation issue is very important for us since the requirements of small and medium enterprises in the Indian market are very different from the rest of the world," said Nagpal.
"The total IT spending in India per annum is 100 billion and 37 percent of this comes from the small and medium enterprises segment. This size is expected to grow rapidly over the next few years.
"With small and medium enterprises realising fast that they would have to deploy IT solutions to stay profitable, we see sharp growth in the demand for our products," he said.
Source: IANS