TCS plans big for its ‘iON’ package
Leading IT company TCS today announced plans to ramp up its customer base, for its product line targeting Small and Medium Businesses (SMBs), to more than 1,000 by the end of current year.india Updated: Mar 21, 2011 19:24 IST
Leading IT company TCS on Monday announced plans to ramp up its customer base, for its product line targeting Small and Medium Businesses (SMBs), to more than 1,000 by the end of current year.
This is in line with its plans to generate USD 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 the domestic sector,” the company’s global head, V Ramaswamy told reporters in Chandigarh on Monday.
He said TCS is eyeing revenue to the tune of USD 1 billion from ‘iON’ in the next 5 years.
Based on a pay per use model, TCS rolled out its fully integrated IT solutions for SMBs 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.
Ramaswamy said there was huge potential in the 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 USD 48.5 billion by 2015 from USD 11.9 billion in 2010.
"Market (in India) is highly untapped.60% of SMBs 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 like Tamil Nadu, Gujarat, West Bengal, Punjab, Haryana, NCR, Karnataka and Andhra Pradesh.