August 15, 2011 – Indian software provider HCL Technologies foresees in upward of $1 billion in sales and services through the creation of a new business analytics division, expanding its reach in a market experiencing double-digit annual growth.
The BI and analytics service lines have been among the fastest growing in recent years at the company, says Avena Suri, external communications officer for HCL America. The added push in the business analytics market – run under the umbrella of HCL’s Enterprise Transformation Services Division – will aim in particular at application software and services for customer experience, risk management and fraud, and enterprise data management, Suri says. In addition, senior leaders at HCL are leading the launch of certain industry-specific analytics solutions, according to HCL executive Vikram Duvvoori.
Traditionally, HCL Technologies sells software and services for outsourcing, infrastructure management, engineering and BPO, focusing on financial services, manufacturing, customer service, public services and health care. As half of parent company HCL Enterprise, which is valued at $5.9 billion, HCL Technologies has revenues of about $3.5 billion and offices in 26 countries.
IDC forecasts the business analytics and tools market to undergo solid growth over the next five years, after ratcheting up 12.7 percent in 2010 from the previous year to surpass the $4 billion mark in sales for the first time.
Dave Kasabian, analyst and founder of Pervasive Performance Group, says that this new division is part of a wave of service firms making multibillion dollar investments in business analytics and a “validation of the size and legs of the BI/BA space.”
“With all the large service competitors in the space, each will need to find ways to differentiate other than price, [and] vertical expertise is the most obvious way to do so,” says Kasabian.
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