Global brands continue to trust Ramco
· A top Fortune 50 company signs up with Ramco
· YTD Q3 revenue grows 9% while booking grows 21%
· Indonesia, Philippines and Singapore show strong pipeline build up in Asia
· After Cloud Finance & HCM – Ramco EAM positioned in Gartner Magic Quadrant
Chennai, India – February 7, 2018: Ramco Systems (BSE – 532370, NSE – RAMCOSYS); a global enterprise software company focusing on enterprise cloud platform, products and services, announced the results for the third quarter of financial year 2017-18.
For the quarter ended Dec 31, 2017 (Q3: 2017-18), global consolidated income of Ramco Systems Limited stood at USD 19.78m (Rs 127.63 cr) as compared to USD 18.34m (Rs 117.21 cr), in the previous quarter. The net profit after tax for the quarter stood at USD 0.55mn (Rs 3.56 cr) despite headwinds on account of Forex loss which impacted bottom line to the tune of USD 0.83m (Rs 5.34 cr) as against a Forex gain of USD 0.89m (Rs 5.67 cr) in previous quarter.
- Q3 Revenue grows 8% QoQ and 15% YoY
- Average deal size continues to rise with 12 ‘half-a-million dollar plus’ deals in Q3
- Cloud bookings stood at 54% on a YTD basis, ensuring recurring revenue build up for the future
- In line with the previous quarters, unexecuted order book grows to 140 mn; Q3 order bookings stood at USD 24.5 mn
· Revenue from markets outside India stood at 80%
- Asia registered stellar performance on both booking and revenue;
o Myanmar, Indonesia, Philippines and Singapore to be key markets driving Asia growth; reinforcing the focus and investments made in newer geographies in Asia
- North America recorded its highest revenue in last 5 years, a positive trend showing the product gaining acceptance in mature and highly competitive markets
- Focus offerings (Logistics & Global Payroll led HCM) contribute 62% of overall order booking for Q3
o Ramco HCM added one of the top five Fortune 100 giant as its customer; Q3 revenue from HCM grew 28% QoQ with acceptance coming from marquee logos
o For second quarter in a row, the largest order was booked for Logistics business
o Aviation continues to dominate the Heli (Specialty Operators) with 7 of the top 10 heli-operators using Ramco M&E MRO software. To tap small operator segment, launch of Aviation LITE on Cloud is scheduled at Heli Expo 2018, Las Vegas
- After entering Gartner Magic Quadrant for Cloud Financials and Cloud HCM, Ramco becomes the only Asia based vendor to enter Gartner’s Magic Quadrant for Enterprise Asset Management – with this mention, three of Ramco’s five product suites are in the Gartner Magic Quadrant
Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “The simplification exercise we embarked upon from an offering, operations, focus markets and product user experience perspective have started yielding the desired results. We will continue to build on our strengths and define the future in this space.”
Commenting on the performance, Virender Aggarwal, CEO, Ramco Systems, said, “With three of the top 4 consulting companies reposing their trust on Ramco platform, I am delighted to see the endorsements we are gaining and the growth witnessed, globally. We identified a blue ocean in Multi Country Payroll and Logistics which hitherto had limited competition as no major vendor offered the broad spectrum of coverage as we do. With three consecutive quarters of strong order book, the focus will continue to be on driving Innovation and simplification in everything we do.”
About Ramco Systems:
Ramco is a fast-growing enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in 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 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 1600+ employees spread across 24 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!
Only APAC vendor to be positioned in Gartner Magic Quadrant for Cloud Financials, Cloud HCM and EAM;
Enters as a Contender in The Forrester Wave(TM): SaaS Human Resource Management Systems, Q3 2017
Recognized as a ‘Highly Recommended’ Payroll Software Supplier of the Year 2017 by Global Payroll Association; Positioned as ‘Achiever’ in Everest Group’s Multi-Country Payroll Platform Assessment;
For more information, please visit http://www.ramco.com/