Software developer Technology One will have access to a massive, previously untapped market with the appointment of a distributor in India.
The company has just signed a strategic partnership with Indian IT company Kale Consultants. Kale develops software products and services in the banking, airline and health care markets, which are used in India and around the globe. Its customers include 16 airlines, the National Australia Bank, and the Bank of New Zealand.
For the past five years, Kale has averaged a growth rate of 55 per cent, and has 350 staff in its Mumbai headquarters, and offices in Melbourne and New Zealand.
The arrangement will include Kale gaining the exclusive and master distributorship of Technology One's accounting software solution for the mid-market, Finance One, in India, and, potentially, the Middle East.
Distribution rights to Technology One's other products such as Student One and Retail One are expected to follow.
Technology One managing director Adrian Di Marco said the new development facility in India will enable the company to springboard its global expansion plans.
`India has the world's second-largest pool of English-speaking people after the United States. We can see the potential of a partnership that can deliver a large pool of highly skilled IT personnel while, at the same time, provide access to the huge and untapped markets of India and the Middle East,' Di Marco said.
Both companies would also draw on each other's business knowledge and methodologies to open up new opportunities, Di Marco said.
`Kale will be licensed to use Technology One's multimillion dollar Application Development Framework (ADF) that underpins all our software development and allows us to achieve consistency and an advanced set of features. They will also have the option to use our distribution channels,' he said.
In addition, Technology One plans to set up a dedicated R&D centre in India so that it can create virtual software teams working between Mumbai and its R&D centre in Brisbane, Di Marco said.
A recent World Bank study rated India as the number one country in the world for outsourcing of software development by vendors in the US.