US software firm opens development centre in Bengaluru
Bengaluru: US-based quote-to-cash solution provider Apttus on Thursday opened a software development centre here for serving local business enterprises in diverse verticals.
“Opening of our second centre in India after the first at Ahmedabad in 2012 is part of commitment to address the needs of our customers for quote-to-cash processes,” said Apttus India General Manager, Operations, Jesal Mehta.
Quote-to-cash is an IT term for the integration and automated management of end-to-end business processes on the sell side. The solution runs on Salesforce1 and Microsoft Azure cloud platforms.
“Quote-to-cash connects a customer’s intent to buy with a company’s realisation of revenue and encompasses sales, contract, and customer relationship lifecycles,” said Mehta, a native of Gujarat, who returned to India after a decade in the Silicon Valley where the company is located (at San Mateo in California).
With about 200 employees, the Bengaluru centre will focus on innovation, engineering, patents, product development and sales growth across verticals spanning healthcare, high-tech banking financial services and insurance, telecom and manufacturing.
“We plan to invest $35 million over the next three years in our India operations, which will include $15-20 million in the Bengaluru centre in 12-18 months,” Mehta told reporters here.
The company’s Ahmedabad centre has 250 employees and 1,200 worldwide.
“Local enterprises will be able to take advantage of our India specific solutions, which are adopted by Fortune 500 firms globally,” said Mehta.
The decade-old venture-funded firm has joined the $1-billion Unicorn Club in valuation with robust growth over the last five years.
The company has raised $186 million (Rs.1,244 crore) till date after first round of funding in 2013.
As per global research and advisory firm Gartner, the quote-to-cash market is projected to grow to $41 billion by 2018 worldwide.
Of the company’s 600 clients worldwide, 70 are Fortune 500 firms.