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Ramco Systems Records 6% YoY Growth In Topline On Constant Currency

Partners with Ernst & Young and other Big 4 consulting firms for Platform
Positioned as ACHIEVER in Multi-Country Payroll Platform by Everest Group

Ramco Systems; a global enterprise software company Ramcofocusing on enterprise cloud platform, products and services, today announced the results for the first quarter of 2016-17.

For the quarter ended June 30, 2016 (Q1: 2016-17), global consolidated income of Ramco Systems Limited stood at USD 16.62m (Rs 110.5 cr). The revenue showed a growth of 6% YoY on constant currency. The net profit after tax for the quarter, amounted to USD 0.14m (Rs. 90 lakhs). This quarter, the bottom line got moderated due to the adoption of Indian Accounting Standards (Ind AS).

(Constant Currency is measured by applying the exchange rates of the corresponding periods of the last financial year)


  • Revenue from markets outside India stood at 69%

  • Ability to address Global Payroll on a unified platform leads to Ramco HCM being positioned as an ‘Achiever’ in Everest Group’s Multi-Country Payroll Platform Assessment beating global giants. Ramco ranks high both on functionality and execution effectiveness

  • Ernst & Young (EY Global Services Ltd), a multinational professional services Consulting firm partners with Ramco for supply of Managed Payroll Services on Ramco’s Payroll Technology Platform

    Commenting on the results, P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems, said, “Our thrust on investing in Innovation and building our platform capabilities continue to get recognized and rewarded. Leading research firms like Everest and NelsonHall have placed us on par or better than some of the leading global names in multi-country payroll capabilities. After Infrastructure and Software, the next wave in technology will revolve around Platform as a Service and I am happy to note we are geared to address the market opportunity that lies ahead of us.”

    About Ramco Systems:

    Ramco is a fast growing enterprise software player disrupting the market with its multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 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 Cognitive and Robotic ERP with features such as Mail It – a feature which enables users to 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 1600+ employees spread across 21 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!

    Winner of ISG Award for Innovation; Chosen as Preferred Next-Gen MRO IT Vendor by ARSA; Winner of HR Vendors on the Year Award 2015; Winner of CIO Choice Honor & Recognition 2016

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