Hyderabad, 22nd June 2017: HTC Global Services, a global provider of IT & ITeS today announced the acquisition of Ciber Inc, a US based global information technology consulting services and outsourcing company. The acquisition comes at a cost of $93 Million USD.
This strategic move is aimed towards further strengthening HTC Global Services’ position worldwide. The acquisition of Ciber Inc will add over 3500 employees to HTC Global Services’ operations globally.
Headquartered in Michigan, HTC Global Services has global delivery centres across multiple time zones in North America, India and Malaysia. HTC Global Services’ operation in India is spread across Chennai and Hyderabad. HTC Global Services acquired CareTech Solutions earlier in 2014 to expand its horizon in the Healthcare industry.
Commenting on the acquisition, Mr. Madhava Reddy, CEO, HTC Global Services, said “This acquisition will further boost the organization’s ability to deliver exceptional customer service, deep expertise in cutting edge technologies, and passionate focus on building trusting relationships. With the acquisition of Care Tech Solutions and Ciber Inc we are confident of achieving our vision of USD 1 Billion by 2020. We will be recruiting another 5000 employees by the year 2020.”
The combined strength of both the companies will help HTC to offer customers a comprehensive set of services and fulfill an integral part of strategic material growth, across a range of industry sectors. This acquisition will also help HTC in expanding its footprint in other parts of US. The addition of Ciber’s workforce will propel the company’s growth into the marketplace.
As both the companies share common and firm value systems, we foresee a bright and prosperous future with the ability to compete better at any level.
BOSTON, June 13, 2017 – Duck Creek Technologies announced today that HTC Global Services (HTC) has joined its Global Alliance Program. HTC’s significant capabilities as a delivery partner will provide expert system integration, analytics, and long-term technical support for property and casualty insurers utilizing Duck Creek solutions.
Vani Prasad, vice president – insurance services at HTC noted, “The Duck Creek Suite is the most complete solution in the market for insurers looking to modernize and get ready for tomorrow. Our partnership with Duck Creek will accelerate the pace of business transformation in the insurance industry, providing cutting-edge solutions that go far beyond customer expectations.”
Duck Creek’s Global Alliance Program is comprised of delivery, solution, and technology members who play a crucial role in providing complementary software services and solutions to insurers of all sizes. HTC has extensive domain and technical expertise that will be applied to the transformational and modernization projects of customers utilizing Duck Creek’s solutions, delivered via the cloud or on premises.
“To support our ongoing commitment to deliver our solutions to insurers, quickly and efficiently, we look to trusted partners like HTC to work with us to accelerate implementation projects and support long-term application maintenance,” said Eddie Jones, vice president – strategy and alliances, Duck Creek Technologies. “The combination of our solutions and HTC’s technology expertise in areas of modernization and business transformation, will help insurers respond to the industry’s rapid pace of change and better serve the needs of their customers.”
Troy Michigan, June 08, 2017: HTC Global Services acquires the North American and India operations of Ciber, Inc. (CIBER), a global information technology consulting services and outsourcing company, headquartered in Greenwood Village, CO, USA.
According to Madhava Reddy, CEO, HTC Global Services, “This acquisition will further boost the organization’s ability to deliver exceptional customer service, deep expertise in cutting edge technologies, and passionate focus on building trusting relationships.”
The combined strength of both companies will enable HTC to offer customers a comprehensive set of services and solutions, and fulfill its strategic growth objectives across industry verticals. This acquisition will also help HTC in expanding its footprint in other parts of the US. The addition of Ciber’s workforce will propel the company’s growth into the marketplace.
As both companies share common and firm value systems, we foresee a bright and prosperous future with the ability to successfully compete with many levels of transformational technology.
Chary Mudumby, CTO – HTC Global Services explains the benefits of utilising mobility solutions in optimising post discharge
care by hospitals and how technology can be leveraged to attain business growth, in an interaction with Raelene Kambli
What functions need to be performed as part of the post discharge care?
Hospitals are complex environments performing many connected and synchronised activities as well as event-based activities in
providing patient care. There are a slew of activities that need to be performed to allow for safe discharge of the patient.
Proper planning for post discharge care is very important. This includes the medications, exercises, relaxation techniques
including meditation, diet, lab tests, administration of simple procedures using home equipment such as nebulisers, follow-up
visit schedule and any literature that might help patients in understanding the dos and don’ts. Hospitals should also plan on
proper monitoring of the medical condition of the patients depending on the disease. At the minimum, hospitals need to make
follow-up phone calls inquiring the general well-being, monitor parameters that are pertinent to the condition of the patient
such as sugar levels, blood pressure and more importantly alert them on the tests they need to go through.
What are the challenges faced by hospitals in maintaining and providing good quality post discharge care?
The first challenge is in providing all the relevant information to patients or their caregivers, before the discharge.
Patients usually are home-sick and will be in a hurry to get back. A proper documentation of everything that a patient needs to
follow at home in-order to recuperate, regain and maintain health must be given in a referenceable and easily understandable
format with no ambiguity. Hospitals need to maintain adequate staff for the post discharge follow-up. Most hospitals are
generally short staffed even to handle the patient care while patients are still in the hospital. Another challenge is that
many hospitals do not have an integrated electronic health or medical records systems.
What are the pre-requisites for building improved patient monitoring systems in order to provide post discharge care?
A good planning, availability of well documented general information for various common diseases and conditions which can be
modified to suit a particular patient’s need, an adequately staffed post discharge care unit for necessary follow-ups and
recording of the information from the follow-up are necessary to implement a good post discharge care. Such a care surely
reduces the recurrence of the disease or manages it within limits.
How can mobility solutions help in overcoming these challenges?
All the instructions to the patients or the care-givers can be delivered in a very friendly format on the smart phones and
tabs. User experience can be enhanced using augmented reality. For example, patients using their mobile camera can scan the
medicine or the home equipment or the icons that are provided to them representing diet, lab tests etc., in order to view
relevant specific information customised to the patient.
With the connected medical devices that use IoT, patients will be able to make the information on the vitals etc, directly
available in real-time to the health providers. In addition, disease specific monitoring apps can be provided by the hospitals
to the patients. Patients will in turn be able to use these apps which will automatically provide the information to the
hospitals for monitoring and preventing the reoccurrence of conditions through proactive measures as well as early intervention
where necessary. For example, we developed a mobile app for a hospital to monitor the health condition of infants with
congenital cardiac conditions. This is a simple to use in-home monitoring app to be used by the parents or other care givers of
the infants. This provides information to the medical staff to help them detect worsening health conditions with signs of poor
systemic oxygenation, acute dehydration and respiratory distress.
Explain the role of healthcare analytics in post discharge care?
Analytics help hospitals to continuously improve post discharge care. All the information that is monitored and collected
through post discharge care programmes can be analysed to identify common causes, conditions under which the symptoms or
conditions re-occur, and the population dynamics and demographics that causes the occurrence of conditions. This helps in
devising better home care programmes post discharge.
Can post discharge services backed by healthcare analytics reduce readmission rates within hospitals?
A well planned and designed post discharge care programme will proactively identify the health conditions of the patients
before they worsen and require admission for the in-patient care in the hospital’s intensive care units or others. For example,
a long-term diabetic patient with a history of kidney issues needs to be monitored carefully at home, maintaining the sugar
levels through insulin or other medication while looking for the parameters to alert on Kidney and heart conditions such as
increased creatinine levels, oxygenation etc. Early identification of these symptoms allow for the relief from the condition or
symptoms with intervention that can be performed at home or through simple out-patient visits and procedures, thus reducing the
occurrence of a serious condition requiring admission into the hospital.
What impact it can have on the hospital’s balance sheet?
Hospitals need not look at reduction in readmissions as reduction in revenues. In most places in the world, there is a shortage
of hospitals, equipment, beds and medical staff including nurses. As a result, a number of people are always in queue, waiting
for appointments and vacancy in the hospitals for admissions.
Will it help to reduce the operating cost of the hospitals or will these services add to the cost?
A good monitoring programme will cost money, but this is a good investment. Use of technology especially mobility and IoT will
come in handy to bring down the costs of post discharge care. These costs can be passed on to the patients as part of the
hospital charges for their visits or as a separate charge for specialised post discharge care in cases where it is necessary.
This can be an incremental cost to the patients but the patient’s overall healthcare costs will be down as he/she has fewer
How can hospitals use these technologies to improve business success?
Mobility and IoT backed by analytics and machine learning will definitely provide better care to the patients in increasing the
health of the patient as well as aggregate health of population. While hospitals should still be concerned with disease
management, the focus needs to shift to wellness management. Any population has people with illness, and healthy individuals or
supposedly healthy individuals whose health conditions have not been discovered yet. People with illness have varying degrees
of sickness – occasional sickness to chronic to very sick to terminally sick. Hospitals have been generally engaged in dealing
with sick patients leaving out the healthy people or people on the boarder of sickness. A hospital or health system backed by
technology with proactive outlook, focusing on the wellness will serve a higher population compared to those that are involved
in just disease management. Those institutions will contribute to the overall health of the population progressively reducing
the sickness. Those institutions will be successful businesses serving satisfied patrons not patients. More>>
TechConnect 2017, a one day conference focusing on innovation through disruptive technologies took place in Chennai on 16th March 2017 at ITC Grand Chola. Addressing the role of technology in transforming the global healthcare industry, the conference was conducted by HTC Global Services in partnership with IBM and Plante Moran.
With the burgeoning Indian Healthcare Industry standing at a US $ 100 bn (approximately), the real need of the hour is quality healthcare spread across the country. With the advent of technology, the healthcare industry is undergoing tremendous transformation and many innovative solutions are developed to address the key gaps. The conference promises to address key challenges developed exclusively for the healthcare industry in areas like patient monitoring, post discharge care, and many more.
The inaugural edition of the conference, with distinguished panelists from across the globe showcased breakthrough trends in technologies and also attempted to bridge the existing gaps experienced in disruptive technologies. Covering a broad set of topics, starting from Cloud, IoT, Cyber Security, Data Management and Analytics to Mobility and Connected cars, the session engaged in discussions crucial to the advancement of healthcare industry.
Besides healthcare industry, the one-day conference offered insights into the accelerated trends in IT Industry and their implications on day-to-day business with focus on reimaging technology across key industry sectors like Manufacturing, Banking and Financial Services, and Automotive. More>>
Chennai, March 2017: Emphasizing on theneed for innovative practices through disruptive technologies to bolster the growth of IT sector in India, HTC Global Services’today organized a global conference, TechConnect 2017 in Chennai. With distinguished speakers from across the globe, the conference offered key insights into the accelerated trends in the IT Industry and their implications on day-to-day business. The conference was inaugurated by Mr. John Fleming, Principal Commercial Officer, US Consulate – Chennai in the presences of HTC Global Services’ management and key speakers.
Organized in partnership with IBM and Plante Moran, the key focus of the theme was on reimaging technology across key industry sectors like Automotive and Manufacturing, Banking and Financial Services, and Healthcare. Eminent speakers from the panel also showcased breakthrough trends in technologies which have helpedin bridging gaps experienced in disruptive technologies.
Commenting on the conference and its impact on the industry, Mr. Madhava Reddy, President & CEO, HTC Global Servicessaid, “More than ever, pace of evolution of new technologies is impacting our day-to-day lives and our businesses. It is important for us to survive and thrive with the onslaught of these emerging technologies. HTC Global Services TechConnect 2017 is an attempt to get renowned industry experts to highlight the depth of these technologies and their impact on our business and society at large.”
The power packed sessions spearheaded by industry veterans covered current topics in technology like Cloud, IoT, Cyber Security, Data Management and Analytics to Mobility. The sessions engaged in discussions crucial to the advancement of various industries like Automotive and Manufacturing, Banking and Financial Services, and Healthcare.The captivating panel discussion also brought forth key elements of the emerging industry trends with a focus on transformative technology.
About HTC Global Services: HTC is a leading global Information Technology (IT) and Business Process Outsourcing (BPO) services and solutions provider. Headquartered in USA, HTC has 26 years of experience in providing IT and BPO services to Automotive and Manufacturing, Banking and Financial Services, Government, Insurance, Media and Publishing, Healthcare, Retail and Education verticals. HTC offers services in Application Development and Maintenance, Application Re-engineering, Application Integration, Testing, Data Management and Analytics, Enterprise Mobility, ERP, CRM, Enterprise Content Management, IT Infrastructure Management, and BPO. HTC offers services across various geographical areas such as North America, Europe, Middle East, and Asia Pacific. HTC’s processes are compliant to SEI CMM Level 5 and certified to ISO 9001:2015, and ISO 27001 standards. More>>
HTC Global Services, a global provider of IT solutions and Business Process Outsourcing solutions, is recognised widely as IT and IT enabled service provider. The company also has a walk-through in manufacturing solutions especially to automotive industry. Automotive industry’s major hiccups are identified and need-based-solutions are coded by the company. Artificial intelligence is the topic which has been highlighted by the company. The three-pronged strategies like machine learning, Enterprise Resource Planning (ERP) solutions and predictive maintenance are also featured.
Data analysis is the only solution in the market as more and more technologies are getting evolved. That is going to be the root cause for research and development. Artificial Intelligence will optimise the processes and reduce the R&D expenses. Data analysis gets varied with the patterns. In turn machine learning depends on the patterns within the data. Managing a large amount of data is cumbersome and ‘Big Data’ has come to us as a rescue. The ‘Big Data’ is capable of analysing extremely large sets of data and reveal patterns, trends and associations. Irrelevant associations and patterns at times will give solutions for a stagnant issue. The processed data can identify the patterns and machines can learn from the algorithms and predict any failure involved in the components well in advance.
Any company which does predictive maintenance could get a cost leverage of up to 20%, the company stated. “We are working with OEMs, component suppliers (Tier-1s) to comply with the standards and regulations. We also give shop floor solutions through which lean manufacturing techniques are adapted. Traditional way of statistical calculation does give solutions computing the data but the patterns keep on changing. Hence the process has to be recurrent and will be incommodious. But with artificial intelligence machines are able to adjust the algorithms correlating with the patterns,” Chary Mudumby, Chief Technology Officer, HTC Global Services, said.
With ERP in place there are a lot of advantages not only in deducing patterns from data but also in the Supply Chain Management. For data analysis through ERP, SAP HANA (High Performance Analytic Appliance) is involved. Based on the data from different sources any upstream changes could be handled. It is also not necessary to go for customised coding as the investment is capital-intensive. Through cloud available algorithms can be subscribed and component-wise betterment is achieved through data analytics. Traceability down the level is a major challenge as tier-3 suppliers lack the needed infrastructure. In order to leverage advantage from the scratch, a bottom-up approach is needed. Cloud computing is advisable which will not fire the pocket of the tier-3s and concurrently highlights the lacunae.
The factories which have predictive maintenance in the shop floor can increase their efficiency. They can work on downtime, inventory management and change-over lags. The machines also need to check their health and that is also possible. “We are automating the operations where the machines can identify the temperature and humidity. For electronic components this will be more applicable. The data flow has to be seamless and there should be concurrence in engineering system, ERP system and execution system,” highlighted Mudumby.
The company also provides telematic solutions to the companies. In the ERP system itself, the company interfaces telematics. Every information is recorded like the driver behaviour, speed of the vehicle, the path followed which will act as data for various solutions to be arrived at. The company is using its telematic solutions to keep a track of its own fleet. “With 10000+ workers we need telematics to track our own fleet. We are also working on various complaints and code solutions,” Mudumby said.
The future plans in manufacturing sector is orienting towards technology areas like machine learning, the company stated. “We have Python like tools which facilitate machine learning. India is a very big market for us next to the US. In China we support the companies that have base in the US and India and using our solutions but we have not designated China as one of our ‘Development Centres’, concluded Mudumby.
Companies are always trying to find the best way to store data in a meaningful format so that they can make better business decisions. Since the birth of data warehousing almost 30 years ago, numerous innovations in data management have been made, such as Hadoop and NoSQL. According to experts, SAP HANA has established itself as a baseline for further innovation by having introduced its High-Performance Analytic Appliance (HANA), a platform for processing high volumes of operational and transactional data in real time. Arun Kumar VC, Senior General Manager – Enterprise Solutions, HTC Global Services, shares the insights on developments and challenges faced by companies while adopting SAP HANA
Chennai, 24th November, 2015: US-based IT firm HTC Global Services has said that it will become a billion dollar firm by 2020, driven in large part by the acquisition of CareTech Solutions Inc, which was roughly the same in size, in December 2014.
The company said that it is also talking to another US firm for a potential acquisition.
Madhava Reddy, president and CEO, HTC Global Services told Business Standard said that the IT/ITeS business of the company in 2014 was around $320 million and expects a moderate growth in 2015, which may end with revenue of around $320-330 million.
He attributed the moderate growth to the acquisition of CareTech Solutions Inc, the benefit of which will be seen 2016 onwards. Reddy noted that the average growth of HTC Global has been around 10-15%.
‘We expect to reach $1 billion by 2020 and CareTech will play a significant role. Around 50 per cent of the target would come from CareTech,’ Reddy said. He added that while most of the growth would come organically, HTC is in talks with a US-based firm for a potential acquisition, mainly for its data centre infrastructure. He declined to divulge any more details about the deal.
‘We felt the acquisition is an integral part of our strategy of exponential growth in our chosen areas of IT (information technology) competencies and it is performing as planned. CareTech not only brought matured solution, but also a good leadership team and employee base,’ said Reddy.
Chary Mudumby, executive vice president, HTC Global Services (India) Pvt Ltd added that the company started implementing some of the CareTech solutions among the Indian health care players as pilot and got some good traction for the same. The company hopes to expand it in the coming months.
According to him CareTech has implemented its solutions in over 5,000 hospitals in US. CareTech, provides focused IT services and solutions to the healthcare industry, expanded HTC Global ServicesQOUTE footprint in the US and also broadened its range of service offerings.
HTC Global has a headcount of around 8,000 people across the globe, of which 6,500 are in IT space; of 3500 of those are based in India. Reddy said that the company will raise its headcount to around 20,000 by 2020.
The company has already set up infrastructure, including a Rs 100 crore development centre in Chennai that can accommodate up to 4,500 employees, as part of its expansion plans.
Singapore, 5th June, 2015: Sprooki, Asia’s leading mobile engagement system (www.sprooki.com) is pleased to announce further expansion into Malaysia via a strategic partnership recently secured with IT solutions specialist HTC Global Services Inc (HTCGS).
The partnership with HTCGS represents another significant milestone for Sprooki, as it continues to exploit its early mover advantage and cement its position a market leader and industry standard for location-based mcommerce engagement in the Asia Pacific region. HTCGS provides world-class, state-of-the-art customised IT services and solutions to a number of leading Malaysian organisations and Fortune 500 companies and has operated in the country for over 13 years.
With clients across many different industries including retail, the partnership agreement between HTCGS and Sprooki will deliver excellent growth opportunities for both companies. HTCGS is a market leader in the provisioning of sourcing and supply chain solutions, store and web applications, mobile commerce solutions, merchandise management, marketing and sales systems and data warehousing and business intelligence.
In addition to acting as a reseller for Sprooki, HTCGS will also cover the implementation of Sprooki including training, development of mobile applications and interfaces and advisory services for new retail customers.
The expansion into Malaysia is another exciting step for Sprooki, and one which positions Sprooki to capitalise on a rapidly changing retail landscape in the Asia Pacific region. ‘Malaysia was one of the world’s first markets to adopt mobile internet and smartphones. The market is now enjoying rapid growth in e-commerce through both local and international sites,’ said Claire Mula, Executive Director of Sprooki. ‘As a truly mobile-first internet market, Sprooki is delighted to partner with HTC Global Services as they turn on omni-channel and mobile strategies for Malaysian retailers and malls.’
Forbes has forecast e-commerce transactions in Malaysia to grow to US$1.4 billion in 2015, up from US$253 million in 2011, and mobile phone penetration continues to grow at a rapid rate, with 144 mobile subscriptions per 100 people in 2013.
Sprooki provides Asia’s largest malls and leading retailers with a location-based retail system they can use on a daily basis to win more consumers where and when they choose to shop. The solution is a head-start for multi-channel retailers and malls and comprises Sprooki’s cloud-hosted platform, back-end administration and analytics, software development tools and apps for mobile devices. In addition, Sprooki provides implementation services to help retail sector clients get to market quickly, cost effectively with even greater success. Founded on the belief that connected devices has been the biggest change to retailing in many years, responsible for a new generation of smarter, connected shoppers, Sprooki’s system provides a number of customizable modules for malls and retail enterprises including Campaign Rewards, Mobile Shop, Indoor Messaging and Analytics.
Troy, Michigan, 18th December 2014: HTC Global Services, a global provider of Information Technology (IT) Solutions and IT Enabled Services, announced today that it has acquired CareTech Solutions, Inc. (CareTech), an IT and Web products and services provider for U.S. hospitals and healthcare systems. Both companies are headquartered in Troy, Michigan.
‘This acquisition is an integral part of our strategy of exponential growth in our chosen areas of IT competencies’ said Madhava Reddy, President and CEO of HTC Global Services who will also take on the role of Chairman of CareTech Solutions.
‘CareTech will retain its brand name and operate as a wholly owned subsidiary of HTC under its current leadership team. The addition of a successful company like CareTech, which provides focused IT services and solutions to the Healthcare Industry, expands our footprint in the USA and allows us to strengthen and broaden our range of service offerings. This is an excellent opportunity to increase job opportunities in Michigan and to expand our services globally, he added.
Jim Giordano will continue to lead CareTech as its President and CEO. ‘CareTech and HTC share the same values, culture and commitment to customer service that helped rank CareTech as an industry leader,’ said Giordano. ‘I am confident that the combination of our two companies will further strengthen our value proposition, providing additional services for our customers and new opportunities for our employees. This is an exciting time for all of us,’ he added.
Chennai, 25th September 2014: HTC Global Services announced the partnership with BSG Global, South Korea on 25th September, 2014. The strategic partnership would bring-in the HTC Global Services’ SAP expertise to South Korean market. Commenting on this Mr. Chary Mudumby, Executive Vice President, HTC Global Services said, ‘We are very happy to partner with BSG Global in South Korea. We would like to capitalize on BSG’s strong presence in South Korea, and their proven track record of excellence in SAP projects. Likewise, BSG will benefit from HTC Global Services presence and expertise which it will be able to take to their Korean MNCs.’
The Kuali Foundation is proud to announce that HTC Global Services, Inc has joined the Kuali OLE partnership as a Tier 1 investment partner.
Chennai, 26th August 2014: Kuali OLE (Open Library Environment) is a robust, open source, enterprise-wide, easy-to-use system for selecting, acquiring, and describing library information resources. It is being developed using the same investment model that created the successful Kuali Financial System and has an international group of libraries who serve as founding partners of the software. In becoming a Tier 1 investment partner, HTC Global Services, Inc. will strengthen its ties to the development of Kuali OLE by having a seat on the OLE Board as well as on the Functional and Technical Councils. This will enable closer communications between HTC and the Kuali OLE Project Board.
‘HTC Global Services is a trusted partner in the Kuali community and Kuali OLE is honored to have them join as a Tier 1 Partner,’ said Bruce Taggart, Kuali OLE Board Chair and Vice-Provost for Library and Technology Services at Lehigh University. ‘Kuali OLE has a long-standing relationship with HTC as its lead development partner and this new collaboration will further enhance our mutual goals for delivering a superb next-generation library management system.’
No stranger to the Kuali community, HTC Global Services, Inc. is a proven Kuali implementation partner. They have successfully partnered in implementing the Kuali Financial System (KFS) at Michigan State University and have been working closely with the SOAS-University of London Kuali OLE implementation. HTC sees Kuali OLE as a natural progression for their Kuali practice as institutions continue to adopt open source and community-based licenses for applications designed and built for higher education.
‘This move is an exciting step forward in the relationship between Kuali OLE and HTC. The partnership will enable closer ties between our two organizations and will lead to collaborative approaches around new markets for the Kuali OLE software for libraries’, says Vani Prasad, Vice-President, HTC Global Services and lead on Kuali OLE development.
Plans to recruit 10,000 employees
Chennai, 29th July 2014: HTC Global Services, a US based leading global provider of IT and IT enabled services is gearing up for exponential growth in the coming years. It is opening a state of the art development center in Chennai to house 4,500 employees in order to support its ITO and BPO growth. In addition to its highly talented work-force of 6500+, HTC Global Services plans to recruit 10,000 employees globally over the next few years.
HTC Global Services wins the annual Aetna Supplier Award for 2014 after receiving the highest score in the annual Supplier Business Review.
M.C.Rangachary, General Manager (Human Performance) and Senior Consultant, HTC Global Services firmly believes and adheres to the adage that learning does not conclude at the class room. He has therefore been forthcoming with training programmes that concentrate on individual employee development with a purview on corporate objectives.
Even though HTC was started in 1990, it has not grown to become an IT biggie like several others who came into being around the same time or even later. Can you elaborate?
Yes, you are right in a way. HTC Global Services has taken time to grow unlike some companies, which were started around the same time and grew into IT biggies. The primary reason for this is that as an organisation we have always focused on organic growth and never opted for the inorganic route. We focused on building long-term relationships and establishing a strong client base. It may be uncommon in this industry, but this is the route we have travelled. Till now, HTC Global Services has never lost a customer. As a result, we have a developed a lasting relationship with our customers which has also given us an opportunity to gain a strong and deep sense of understanding about the industry. This is true even with our employees. There are several of them who have been associated with us for over 20 years.
Besides, we have prioritised quality over mass production and that is one of the reasons for our slow yet steady growth. It may not be the norm with most IT companies, but that is what we believed to be the growth mantra. We were conservative in our approach and we could not afford to commit big mistakes, which come with bigger costs. As a result, every customer and every dollar was important to us and we could not afford to lose even a single one. In a way, as a founder, I had a humble beginning and I remain the same.
But now that we have a good management team in place and a good customer base, it gives me confidence to go out and do bigger things. HTC Global Services is a privately held company and we have never seen the need do make a big flash to impress anyone. Now, due to our increased customer base and to meet their increasing requirements, we are looking at aggressive growth strategies.
As part of the new strategy, we did our first acquisition last December, wherein we acquired CareTech Solutions, a leading IT solution expert for the healthcare sector in the US. Interestingly, both the companies are headquartered in Troy, Michigan, and it so happened that, CareTech too was as big as HTC Global Services. While CareTech was a $168 million company, the combined entity (including HTC Global Services) has revenues to the tune of about $320 million in the US region. The past year was mostly spent on integrating the two companies, understanding the strengths, and bringing in greater focus for long-term growth. The time has come to build HTC Global Services as a billion dollar company in about five years from now.
The company shifted gears over the last one year to speed up the growth pace. What are the improvements on that front?
We have invested in emerging technologies such as big data, mobility, social media and analytics. We are also creating cutting edge solutions and patenting our solutions. Stylometrics is an example. We have created regulatory and compliance related products in the banking sector and also established a service desk to serve customers especially in the areas of healthcare, retail and insurance.
Alongside, we have created a world class BPO facility in Chennai to cater to customers in the areas of accounting, back office, digitisation and e-books. This facility has a capacity to seat 4,500 people over three shifts. It is now operating in two shifts with 1,600- 1,700 employees and we can easily add another 3,000 more. Also, one of the key highlights of this year has been a reduction in attrition rates in our organisation due to the top class facilities.
In the US, we are strengthening our sales bandwidth. We are a delivery focused company and are now hiring more salespeople in both the east and west coasts. We are seeing lot of traction not only in the US, but also in APAC and West Asia.
HTC has also been looking at the Indian market to expand its operations. How far has it succeeded in that?
We have created a niche product and a solution for banks in India to help them meet RBI’s compliance regulations and sold it to over 20 banks. We are also coming out with new features to include import and foreign exchange transaction-related compliance in addition to export regulations and compliance. We also saw that many of the banks need good master data management systems to handle single version of truth across lines of business such as credit cards, current accounts, loans and so on. This enables them to cross-sell effectively.
Besides, we are focusing on government sector with eBAP, which is our open source-based ERP product. We have sold it to about 15 government institutions in Tamil Nadu and other states.
Apart from this, SAP solutions are provided for tier-1 and tier-2 automotive companies, as well as non-automotive organisations across India. Our centres of excellence in emerging technologies such as mobility, IoT and big data are developing cutting edge solutions for healthcare and retail clients in India and APAC market.
The company was keen to take forward its IP-led strategy. Can you elaborate?
As I already said, we have developed products for the banks and financial sector. Some of the algorithms we developed help customers in fraud detection, security management and sentiment analysis.
What are the future plans for the company in terms of growth and acquisition?
The company will primarily be driven by organic growth. When it comes to acquisitions, any strategic opportunity, in terms of technology, geography or industry, will be looked at. Otherwise, primarily our focus will be on organic growth. We have a large presence in Chennai and Hyderabad in India. In Michigan, where the company is headquartered, we recently expanded our presence by adding a 300,000 sq ft facility. Our headcount is around 8,500 now, which could touch 20,000 by 2020.
Major IT players are focusing more on digital services of late. What are the companyQOUTEs initiatives on that front?
We are focussing on these disruptive technologies, especially in the areas of mobility, big data and social media. We take the mobile first approach and user experience takes the centrestage of our development. Since, we have a long-term relationship with our clients, we also advise them and help them bring in digital transformations to enhance their customer experience and increase market share.
What are the major challenges for the IT industry in 2016?
Some of the challenges are perennial. When we expand business, we look for resources. The gap between academics and industry has been steadily growing. Hence, we focus on world class training. We have state of the art infrastructure and projects in cutting edge technologies. This enables us to attract the best talent from the industry. We have very good human performance practices, which provide the best training to our employees on EQ and leadership skills. Our goal is to be the vendor, or more importantly, a partner of choice to our customers and an employer of choice to our employees.
President & CEO Mr. Madhava Reddy with our Honorable Prime Minister Shri. Narendra Modi at the dinner hosted for top Indian origin entrepreneurs during his recent visit to US.