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Business Standard - September 27, 2007
After foreign markets, Nihilent eyes India
After exploring the markets in South Africa, USA and Europe, Pune-based Nihilent has launched its strategy execution and performance management product in the Indian market.
The company, known for its expertise in building 'change management framework' tools, wants to target Indian companies in the construction business, engineering and software development, to use its products.
Nihilent CEO LC Singh during a press conference on Wednesday announced that Demag Cranes and Components (India), a German company has implemented Lamat, a performance management tool, developed by Nihilent.
"We have done excellent business in South Africa, USA and United Kingdom. Indian companies too are interested in getting such a system executed and we would like to be the premier company to provide such tools," Singh stated.
Lamat has been successful in companies like MTN, Sasol, ABSA Bank and South African Airways. "Till last year, Indian companies were not interested in using performance management tools developed by Indian companies. This attitude has suddenly changed in last few months. Especially, the companies in the construction sector are desperate to get the performance evaluation done strictly," Singh stated.
Nihilent has already implemented this tool with a creative art agency while a top automobile company would also be using this tool in near future.
The company, which generated Rs 71 crore net revenue in last fiscal, is expected to raise this figure by 80 per cent this year. "Our UK business has grown by 150 per cent last year. The company is eyeing projects in Kenya and Angola this year," he added.
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