Synygy to invest Rs 50 cr in Indian ops and increase its headcount to 300
Synygy to invest Rs 50 cr in Indian ops The company is also planning to increase its headcount to 300 by the end 2005.
Tuesday, March 01, 2005
PUNE: Synygy, Inc. is planning to invest Rs 50 crore in its Indian operations. The company provides enterprise incentive Debt Management (EIM) solutions and is a supplier of software and services that enable companies to align, measure, reward, report, and analyze the performance of organizations and employees. The company also plans to double its existing office space and taking the employee count to 300 by the end of 2005.
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During his visit to Pune, founder, president and CEO of Synygy Inc Mark A Stiffler maintained that this office was not just a back-end operation or an R&D center for Synygy. "In a span of one year, it has become the company's Asian headquarters, serving clients across India, South East Asia and Australia," he added.
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"Over the last year, the operations in India have become fully self-sufficient, able to lead and deliver on any kind of task or project globally. We've even had people in India train new employees in the US," he commented.
Synygy's Pune office has grown from 11 people in January 2004 to over 150 people by December 2004. An integral part of Synygy, the operations in India are part of a global effort to speed the delivery of new software products and enhance service to global clients through faster software implementations and 24-hour managed services.
Globally, Synygy continued to grow in 2004, with the largest growth occurring in implementation services, which nearly doubled compared to the prior year as a result of new clients and maintenance of plan changes for an expanded client base. Net profit rose 21 percent in the year 2004. During 2004, the company spent over 20 percent of revenue on R&D.