Zoniac, a US-based professional services automation firm, said on Thursday that it would set up its Indian arm in Chennai, which would undertake and provide global product development and support.
The company says India has a Rs 1,740 crore (Rs 17.4 billion) market in this sector.
"As India moves to a predominantly services economy and emerges a preferred destination for outsourcing, there will be an explosion of new companies across sectors besides existing players," Zoniac India's CEO and co-founder Guna Sankar said at a press conference in Chennai.
The company also launched its entire suite of products, Zoniac Premium, Zoniac Staffing Management System, Zoniac Vendor Management System, Zoniac BPO and Zoniac Resume Parser, which would enable Indian professional service organisations particularly IT-dependent firms to increase their productivity and per employee profitability, he claimed.
"While studying the market we found that there is no global player with a localised solution and decided to move in quickly," he said adding the company's focus would be on addressing the local market and adding to the competitiveness of the PSO sector.
The company presently with a turnover of $1.5 million had invested over 600 man months in developing its products, which were considered among the best in the market, Sankar claimed.
