Ramco Systems Revenue Nearly Doubles In Middle East & N.Africa; Adds 6 New Clients In 3 Months
– Grows 97% YoY
– Sees impressive traction for HR software in the region
– Inks deal with a leading bank in UAE for Regulatory reporting
– Strengthens position in Hospitality segment; signs JA Resorts for 5 of its properties in UAE
Ramco Systems, a leading enterprise software provider on Cloud, Mobile and Tablets, strengthened its foothold in the Middle East region with the addition of 6 new customers in the last 3 months. For FY 2014-15, Middle East and Africa contributed 26% to the overall revenue. Being the fastest growing market, Middle East is expected to be a key growth driver for Ramco in future.
For the Quarter ended March 2015, Ramco added 6 new customers in Middle East, which include –
· A leading bank in UAE, for Ramco’s Banking Regulatory Offering – ADF Solution;
· Bank Dhofar, one of the fastest growing Banks in the Sultanate of Oman, for managing HR needs of its 2500+ employees
· JA Resorts & Hotels (part of the Dutco Group), a diversified business conglomerate and a leading hospitality chain based in Dubai chooses Ramco HCM for managing its 2500 employees
· A non-profit charity organization providing healthcare in Saudi Arabia selects Ramco HCM
· A leading UAE based financial services provider selects Ramco HCM to manage its end-to-end HR operations
· Nathan & Nathan, a payroll service provider will leverage Ramco HR platform to offer Payroll services to 40+ companies. With the addition of Nathan & Nathan, the company embarks into PaaS (Platform-as-a-Service) in MEA.
Commenting on the recent wins, Mr. Virender Aggarwal, CEO, Ramco Systems said, “We have had an remarkable run in the region over the last few years which has resulted in Middle East being the largest growth engine for Ramco. Our HR & Payroll software in particular has garnered some marquee brand names in Banking, Hospitality and Retail which is helping further cement our expansion.”
Regulatory compliance is a key focus for all banks. Constant change in regulatory needs, addition of new guidelines, disclosures and reporting is driving financial institutions to move from manual driven compliance reporting to automated systems. Ramco’s Automated Data Flow (ADF) solution has been helping leading banks in adhering to central bank’s guideline for submission of returns without any manual Intervention. A leading bank in UAE has chosen Ramco to address their Regulatory compliance needs.
“With this win, we are exploring a new dimension within the BFSI vertical in MEA. We are thrilled to be associated with the leader in the region and hope to add more feathers to our hat.” added, Mr. Aggarwal.
Mr. Andy Headon-Smith, Group CIO, DUTCO Group (JA Resorts), commented, “Our HR processes were previously managed across multiple platforms and this led to increasing difficulties in achieving our desired level of efficiency. With Ramco’s extensive experience in managing large business conglomerates, and in particular the unique needs of the hospitality industry, we are confident that we have made the right choice in opting for Ramco HCM. The software brings with it the ability to integrate all functions under a single platform. With this implementation, we foresee a positive improvement in HR productivity across the Group.”
Commenting on the partnership, Mr. Nazar Said Al Bahantah, DGM – Head of Human Resource, Bank Dhofar, said, “Banking has been at the forefront of adopting technology and leveraging it for better operations and growth. We, at Bank Dhofar, saw a collective need to improve and integrate our human resource processes. We are happy to have chosen Ramco HCM to aid us achieve our objective of improving efficiency in Payroll, Recruitment & Performance Management. Our HR operations will soon go paper-less and move to mobile-based transactions by completely automating our hire to retire needs on Ramco’s HR platform.”
It is noteworthy that Bank Dhofar is the second banking customer for Ramco in Oman. Interestingly, 3 of the top 7 banks in the region run on Ramco. With this win, Ramco reaffirms its strength in addressing the BFSI segment, in the region.
Mr. Rohan Joseph Nathan, Operations Director, Nathan & Nathan, said, “The combination of Ramco’s HCM with Nathan & Nathan’s Payroll Services is designed to bring the best of technology and leading HR practices. The joint offering will certainly prove to be a great value proposition to our end-customers.”
Some of the large Middle East based conglomerates like Kerzner International, Sharaf DG, Khimji Ramdas and Nesma Group have chosen Ramco’s offerings over competition and have lauded the