Innominds Software, a leading provider of Outsourced Software Product Engineering, announced the launch of its second Product Engineering (PE) Innovation Center in Hyderabad that will boost company’s fast track growth strategies in Application and Tools Independent Software Vendors (ISVs), Mobile and Telecom markets globally. The new Software PE Innovation center spread over 20,000 Sq. Ft facility at the Info City will offer extended product engineering know-how and collaborative research support for Innominds’ growing list of customers worldwide.
Under the new expansion initiative, Innominds anticipates an increase in engineering headcount. The company is hiring actively across all levels in its locations in US and India and expects to reach 1000 mark over the next two years. This will support the outsourcing demands of Innominds customers and will help in expanding the company’s customer base significantly. Additionally, the new facility will also enable the company to expand and strengthen sales support plans globally.
“Our key initiatives involve aggressive business models and adding value to our product engineering service offerings. We are confident, our new investments in India will enable Innominds to expand its market share in the outsourced software product engineering sector and fuel our target revenue growth of more than 100% on an year-to-year basis for the next 2 years,” said Mr. Rao Vemula, Co-Founder and CEO, Innominds Software Inc.
Globally, the market for outsourced product engineering is evolving rapidly. Software product companies are maturing and are considering outsourcing as a part of their strategic expansion goals. According to Mr. Divakar Tantravahi, Co-Founder and Managing Director, Innominds Software, India, “Going beyond cost arbitrage, the market has matured to outsourcing, driven by quality, time-to-market, domain expertise and mitigation of product development risks. Today, the market looks towards innovation as a key outsourcing driver that expands their global markets, provides flexibility in managing global talent and is catalytic to their growth.”
As part of its future expansion plans, Innominds will augment its current Centers of Excellence for Open Source technologies, Microsoft Technologies, Quality Engineering, Enterprise Search and Mobile applications with strong investments in people, processes, infrastructure and best practices.
“This year, we aligned our marketing strategy keeping pace with the industry dynamics and consolidated our position in our core strength area of software product engineering. As part of this strategy, we are pursuing aggressive branding initiatives, new technology acquisitions and enhancements in our service offerings,” Mr. Rana Singh, Vice President – Product Development Solutions, Innominds Software Inc. stated.
Innominds’ turnover for financial year 2005-06 stood at $5 million as compared to $3.2 million for the corresponding period in the previous year. Innominds added 12 new customers in fiscal year 2006-07 and targets a turnover of $8 million FY 2006-07.
Ranked among Global Software 500 (source: Software Magazine 2005), Innominds Software is a specialized Software Product Engineering Services provider based out of Santa Clara, CA with offshore development center in Hyderabad. Innominds is ISO 9001: 2000 certified and its development methodology directly addresses the toughest challenges faced by the product engineering management who are aspiring to fuel innovation and mitigate business, financial and technology risks at the same time. Innominds offers a deep reservoir of proven practices, processes, people, tools and infrastructure to accelerate software product development, reduce time-to-market, mitigate risks and help customers build leading edge technology products.