Emagia Makes Hyderabad Centre Hub For Product Development
R Ravichandran
Hyderabad: Emagia, the US-based inflow/outflow cash management and working capital optimisation product company, has decided to make its engineering and research and development (R&D) centre in Hyderabad the hub for product development in the areas of working capital management and financial instruments.
The company has proposed to invest $7.5 million raised recently from India-based venture capitalist WestBridge Capital to expand its R&D, engineering and product development activities apart from expanding its sales and marketing team in India.
Speaking to eFE, Emagia president and chief executive officer Mike Backlund said: "We see a lot of potential in India. We have decided to scale up the Hyderabad operations further by increasing the existing manpower by 30 per cent in the next few months and make Hyderabad the hub for future product development."
The company will also acquire 8,000 sq ft area in the heart of the city as part of its plans to ramp up operations. "The Hyderabad centre plays an important role in our strategy and stands next to the US operations in overall developments," he said.
It has developed two new products in Hyderabad called 'Cash Inflow Manager' and 'Cash Outflow Manager', which take care of the entire working capital requirements, strengthen efficiency in money collections, analyse inflow/outflow of cash, invoice making and help companies take decisions accordingly, said Mr Backlund.
To support over 100 customers in the US and Europe, Emagia has decided to enhance its call centre operations by inducting more professionals. The company has over 45 employees put together in Hyderabad and the staff strength there would be doubled in the next 12 to 18 months, he added.
"Though operating in a small way, the call centre in Hyderabad has been serving several of our customers in the US over a period of time. Soon we will expand it to serve clients in Europe," he said.
The company will venture into the Indian market soon for its cash manager products. "We see a huge market in India for our products and Emagia will ramp up its marketing activities soon," he added.
