Leading IT company Tata Consultancy Services (TCS) today announced plans to ramp up its customers base for its product meant for Small and Medium Business (SMB) to more than 1,000 by the end of current year.
This is in line with its plans to generate $1 billion revenue in the next five years from its newly-launched IT solutions product ‘iON’,
“We are targeting to increase our customers for our ‘iON’ solution to over 1,000 from 200 at present by focusing on domestic sector,” company’s Global Head V Ramaswamy told reporters here today.
He said TCS is eyeing revenue to the tune of $1 billion from ‘iON’ in the next 5 years.
Based on pay per use model, TCS rolled out its fully integrated IT solutions for SMB using scalable cloud computing technology last month. It aims to address the entire SMB technology needs ranging from HR, Finance and inventory.
The listed entity has already garnered 200 customers since its launch of ‘iON’ catering to manufacturing, retail, education and wellness sectors.
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Ramaswamy said there was a huge potential in country’s SMB segment which is spending three times more than what large companies spend on IT.
He said the total domestic IT market was likely to grow to $48.5 billion by 2015 from $11.9 billion in 2010.
"Indian market is highly untapped, 60% of SMB do not have IT infrastructure,” he said while claiming that its new product reduces IT expenditure by 35-40%.
The key market for TCS to tap SMB potential will be several states such as Tamil Nadu, Gujarat, West Bengal, Punjab, Haryana, NCR, Karnataka and Andhra Pradesh.