Chennai, NFAPost: Ramco Systems, a global enterprise software company focusing on next generation cloud enterprise applications, touched a total revenue of Rs 144.6 crore for the second quarter ending September 30, 2021.
The company’s net loss after tax for the quarter amounted to Rs 12.9 crore. The company continues to be cash positive and debt free as at the end of the quarter.
Besides prolonged lockdown in most of the Asian countries, the company is affected by attendant delays in decision which resulted in continued lower order booking from this key region.
But the company also registered good order booking that helped it to recover from the downslide from Other regions. Ramco System stated that the pipeline looks promising, with US / Europe / ANZ holding the key.
Commenting on the business focus, Ramco Systems Chairman P R Venketrama Raja said Ramco System always believed that innovation nurtures business.
“It is this emphasis on next-gen technology including Bots, Artificial Intelligence, Machine Learning among others that has been helping us keep pace with the ever-changing tech landscape. Our focused efforts on Aviation, Aerospace & Defense, and Global Payroll have been helping us thrive and surf the digital wave,” said P R Venketrama Raja.
P R Venketrama Raja said over the last few years Ramco has come a long way. “Our thrust and focus on innovation has enabled us to rise to the occasion. I am confident that the company’s transition to a new leadership team will bring in newer ideas and a fresh perspective, thereby accelerating our growth,” he added.
While the qarterly order bookings stood at $9.67 million. the company also won 4 ‘Million-Dollar-Plus’ deals. Four major deals are following
1. Strategic partnership with Workday to provide customers with a seamless integration that connects Workday Human Capital Management (HCM) with Ramco Global Payroll, thus enabling large enterprises and multinational corporations to drive HR & Payroll transformation globally
2. Collaboration with Oracle Fusion Cloud Human Capital Management (HCM) continues to witness significant traction across markets
3. Ramco Aviation, Aerospace & Defense continues to strengthen foothold in the MRO segment. It is proposed to set up a separate entity in the US, to cater to the defense and security market.
4. Ramco Logistics sets foot on the South African soil – secures order from a significant supply chain solutions provider with business in Southern Africa and the Middle East
About Ramco Systems:
Ramco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the $1 billion Ramco Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace.
On Innovation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Machine Learning and Event Driven Architecture by building features such as Talk It – which allows transactions to be carried out by simple voice commands, Bot it – which allows users to complete transaction using natural conversations; Mail It – transact with the application by just sending an email; HUB It – a one screen does it all concept built to address all activities of a user; Thumb It – mobility where the system presents users with option to choose rather than type values and Prompt It – a cognitive ability which will let the system complete the transaction and prompts the user for approval.
With 2000+ employees spread across 25 offices, globally, Ramco follows a flat and open culture where employees are encouraged to share knowledge and grow. No Hierarchies, Cabin-less Offices, Respect work and not titles, among others are what makes the team say, Thank God it’s Monday!
Leader in NelsonHall’s NEAT Matrix for Next Gen Payroll Services
Winner of 2020 ISG Paragon Awards Asia Pacific, for ‘Transformation’ and ‘Collaboration’
Winner Global Payroll Transformation Project of the Year – 2019 by Global Payroll Association
Positioned as Major Contender in Everest Group’s Multi-Country Payroll Platform PEAK Matrix