Success in the software services industry is by no means easy. One would definitely require the right blend of technical strength and marketing abilities to pull it off and come good in this highly competitive arena.Prana technologies, a software solutions provider that took off in 2007 claims that unlike other technology businesses, they not only provide technology solutions, but offer complete business solutions packages. “IT services, business solutions, and outsourcing bring you a level of confidence in our product,” says Founder and Director, Sriram Bharadwaj.
Talking about the ride so far, Sriram says, “We are a small and growing company and we are yet to come to the level of saying we are successful. Having said that, we have few factors such as technology capabilities, and size (being small is at times useful) that make us close deals. Thus, we feel we are on the road to success.”
Sriram, an IT major, strode into the entrepreneurial arena with a software solutions provider, Benchmark Softech Ltd., in 1995. Having been successful in developing it into an offshore partner for various companies in Singapore, Middle East, and USA, Eurostar Diamonds, a Belgian company, showed interest in acquiring the entire company and after much deliberation, Benchmark Softech Ltd was sold.
Prana Technologies focuses primarily on providing ERP solutions to its customers. The ERP consulting that Prana offers includes Oracle and SAP based applications. ”In fact, we are more focused on Oracle Apps and SAP implementation than anything else. We also have a small team of mobile web apps/native apps developers,” says Sriram. Naturally, the target crowd would be ERP implementers. “Because we have the edge of having one of the best resources in these fields, they normally outsource the work to us,” he adds. Prana technologies currently, almost exclusively operates onsite at client locations in places like the Middle East and Singapore. Consequently, depending on the agreement, the revenue model is based on the fixed cost of a project.
Another well-known fact is that mobile commerce is going to command a pretty huge market space in the next few years. Sriram, whose venture also focuses on mobile application development services adds, “Mobile Commerce will rule the roost. Even as a user, I find it more suitable and comfortable than the traditional computing methods. If technologies can bring in necessary security measures, mobile commerce and communication has a great future for itself.”
The founder points out that assimilating the right team with good capabilities will be a major challenge. “Now that we are small, we are able to get our resources through our network of contacts. However, as we grow, hiring the right resource is becoming a challenge.”
In a couple of years, Prana Technologies looks to setup a world-class facility and become a major offshore player. “With the size and success rate, we have been getting good offers for acquisition and mergers. However, we have been slow in accepting such offers and we would like to make the venture bigger before we accept such offers,” says Sriram, signing off.
More about them on the website.