Infrasoft’s Geo-Expansion Strategy For India

Infrasoft Technologies, a midcap IT solutions player that caters exclusively to the BFSI segment globally, will recruit 20 resellers and data center partners to expand its reach in tier two and tier three cities in India. The company will also appoint three national system integrators to tap opportunities in larger banks.

The company offers application development, application managed services, BI, BPM, content collaboration, CRM, data management, migration & integration services, SOA and enablement testing services to its global customers.

According to Hanuman Tripathi, Founder and Group Managing Director, Infrasoft, “We are now looking at India since the IT budgets of the banking sector have increased substantially, a far cry from earlier times.  Today, the industry spends around 300 percent or three times more than three years back. We are now looking at expanding the banking product footprint to smaller banks and micro finance companies that by definition do not have their own data centers.”

Infrasoft, which has signed on six or seven new customers in the last one year, expects its resellers to provide application services on the cloud; and its data center partners to offer managed services. “We want to work with partners who have domain knowledge of the banking and micro finance sector. Today, we are sharing data centers of larger co-operative banks such as the Saraswat Bank and the Thane Janata Bank with smaller banks and micro-finance companies. Net Tech Solutions, is the only IT partner currently offering data center services.”

Infrasoft has direct presence in terms of its fleet of engineers and sales executives in India. “We are now looking at channel building and development. We are currently active in Gujarat, MP, Maharashtra, Bihar, Punjab and WB. We are looking at resellers who will not only hand hold our customers, but would also provide ancillary products that we do not offer,” Tripathi said.

Infrasoft already has 75-80 percent market share in the urban co-operative banking sector. Its target is to acquire ten mid size banks, and about 15-20 smaller banks this year. And for that, the company would spend Rs 5-6 crore which is 25-30 percent of its overall marketing budget toward brand development, channel promotion and activities in the country.