Emagia contemplate expansion, to enter new mkts
September 11 , 2003
SUNIL RAJANALA
TIMES NEWS NETWORK[ FRIDAY, SEPTEMBER 12, 2003 01:49:53 AM ]
HYDERABAD: Backed by a $7.5 million series "B" funding from Sigma Partners and WestBridge Capital Partners early this year, Emagia Corporation, an enterprise cash flow management solutions firm intends to expand its operations in India, UK and other new markets in Asia.
The funds would be utilised in strengthening the engineering and professional services teams at its Hyderabad centre, setting up operations in UK and expanding the sales and marketing teams in the US. Emagia provides collaborative e-business software solutions that streamline and automate cash flow processes for enterprises. "This is a time when most companies are focused on creating efficiencies and improving profitability. Our collaborative solutions improve performance in the area of cash flow management and positively impact the bottom line of enterprises," Emagia's president and CEO, Mr Mike Backlund told ET.
The company received the series `B' funding during March this year primarily to expand its sales, marketing and deployment operations into new markets. Mr Backlund said atleast 25% of the new investments will be made into expanding the Hyderabad engineering and R&D centre before the end of 2003. With a software engineering team of 40, Emagia will add another 10-15 engineers to the team by year end.
The UK operations are expected to be launched by the year-end. Mr Backlund said the UK operations will act as the base to venture into Germany and France. "Our expansion into Asian market will happen sometime during Q1 of 2005. The level 1 and 2 implementations for customers will be done out of Hyderabad, which will also offer professional services for customisation and implementation," he said.
"Emagia's solutions help large enterprise customers manage cash flow efficiently and optimise working capital. The factors that differentiate us from the competition are the transactional efficiency, simplicity of solution and integration with back-end and legacy systems," said Mr Frank Teruel, Emagia's vp finance.
Emagia's customer base includes Selectron, Celestica, Network Associates, Syngenta, Hyperion, Advanced Fibre Communications and Sensormatics. Mr Teruel said Emagia's structured implementation methodology and its Enterprise Application Integration (EAI) kit for integration with the back-end ERP systems shortens the implementation cycle rapidly for customers. "We would like to compress the implementation time further from 8-10 weeks," he said.
