QlikTech steps into India

QlikTech steps into India

By Eureka   |   Friday, 25 July 2008, 11:44 Hrs
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Bangalore: Amidst the growing business intelligence (BI) market, QlikTech, queues to join the Indian market with its India operations. This Swedish company, with an objective to support and know the customer base in India, plans to set up office in Bangalore.

The company with Reserve Bank of India (RBI) license to operate a liason office in the city, sets to expand in the country with even Mumbai in its target list. However, the plans would come into action in a few months from now. Raghunathan Rangarajan, who earlier served with IBM, SAP, has joined as its Regional Manager in India and South Asia. He says, "The Company is pursuing deals in Bangladesh and Sri Lanka."

Asked about the challenges the company would face in the midst of its rivals, Peter McQuade, Vice President, Global Alliances and International markets, QlikTech said "Do nothing or excel." McQuade claims that the cost effectiveness and simple analyzing process of QlikView would be an advantage over its competitors like Oracle and SAP. The product will be initially introduced in two packs of five and 10 users which will be priced at $15 and $20, respectively as a one time license, thus amounting to around 800. QlikView provides with in-memory association technology for analysis, dashboards and reporting.

But on the cost effective lines, its rivals Google and Panorama Softwares jointly offer free business intelligence software for the spreadsheets. However, QlikTech plans for growing through channel partners too.

This BI software company has its strong base in U.S. and has around 9,050 customers in 86 countries. However, it has recently added another customer to its list, which makes it 87 countries, McQuade said. The company covers different verticals ranging from newspaper, retail and insurance too. QlikTech's 140 Indian customers include Relaince Life, Reliance Capital, Dainik Jagaran, Parle and LG Electronics. It is a private firm backed by venture capitalists like Accel Partners, Jerusalem Venture Partners and Industrifonden. The firm observed 300 percent increase in the revenue from India in 2007, though the exact numbers were denied to reveal. Moreover, there will not be any R&D centers in India, as McQuade said that splitting the 400-member group couldn't be considered presently. However, witnessing India's competent population, the matter may come for consideration in later years.

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