UK firm Asite opens India centre, to invest Rs 10cr

Asite Solutions Tlc, a UK-based listed software company, inaugurated its first branch office in India at Ahmedabad on Friday.

The company's Indian operations will be monitored through its Indian head quarters at Ahmedabad in Gujarat, while the company plans to set up satellite centres in cities like Bangalore, New Delhi, Mumbai, Kolkata, Chennai and Hyderabad among others.

Asite Solutions Ltd plans to invest over Rs 10 crore in the next two years and to employ over 500 professionals in the next three years.

"Our business operating system supports a wide range of business-to-business processes with a focus on procurement and project management. We automate key processes, creating an extended network that promotes more efficient interaction and better communication between businesses," said Tom Dengenis, chief executive officer, Asite Solutions.

The company plans to expand its commercial operation throughout the country in the next two years. The group's overall turnover for the financial year 2003 was over £1.7 million and the company has targeted to achieve a turnover exceeding £4 million by the end of the financial year 2004.

"Our platform works with the existing technology to enable access to current, accurate and consistent data, providing decision makers with better visibility and control. Asite's solutions are easy to use and backed by all the support needed to ensure maximum benefit from the technology," said Nathan R Doughty, technology director, Asite Solutions Ltd.

The company, having its operations in European and Middle East countries, eyes to enter the US and Australian markets apart from its new Indian operations which will be the hub for the company's operations in the Asia Pacific region.

The company eyes to generate over 50 per cent of its revenues from a 50 per cent growth in its customer base in the current financial year and 30 per cent from its new product line services in supply chain management and vendor management.

The company eyes to achieve break-even from its Indian operations in the next five years and expects return on investments by the end of 2005.

"We will look for mergers and acquisitions in the next two years," said Dengenis.

"We meet the demands of a wide range of sectors, including construction, local government, utilities, telecoms, retail and manufacturing and industry leaders such as Liang O Rourke, BAA, Wolseley and Travel Inn among others," Doughty added.