Incedo Reports 70 Percent Growth Rate in FY17, Continued Expansion Planned for Year Ahead; momentum achieved organically and through strategic partnerships and acquisitions – firm focused on new deals, verticals and emerging technologies
Incedo, a Bay area technology services firm specializing in data management, product engineering and emerging technologies, today announced it has achieved a year over year growth rate of approximately 70 percent for the fiscal year ending March 31, 2017, together with a strong outlook for FY 2017-2018.
“This has been a transformative year for Incedo, not only as demonstrated by financial performance, but also in terms of partnerships and acquisitions, and client growth and retention,” said Tejinder pal Miglani, CEO, Incedo. “In addition, our strong focus on new technologies and verticals has enabled us to develop innovative and custom solutions to meet client needs. We’re excited to continue our pattern of incredible growth, while retaining the entrepreneurial attributes that keep us nimble and adaptable to the fast-changing technology industry.”
Key highlights that contributed to Incedo’s growth trajectory include:
Partnerships & Acquisitions
Pursuing strategic partnerships and acquisitions is a key component to Incedo’s global growth strategy. The organization focuses on engaging smaller firms to ensure its entrepreneurial culture remains intact. As part of this strategy, within the past year Incedo closed a number of deals to offer innovative solutions and services to its customers across verticals. It acquired Syslogic to offer broad-based communication engineering solutions and services to the telecom service provider markets, and entered into numerous partnerships – including with UiPath and Splice Machine– to develop and deliver solutions within the key areas of data management, robotic process automation and cognitive and machine learning-based automation.
Client focus is Incedo’s top priority. The firm is dedicated to consistently building expertise in each vertical, delivering high quality solutions for clients, and doing whatever it takes to ensure clients are successful and achieve their desired results. This client-centric model has led to significant growth and retention rates over the last year across all business units, with the firm acquiring 27 new clients and retaining over 90%of its current clients for new projects.
Additionally, the firm won and worked on 180 active projects, and achieved double-digit client growth in every business unit:
- Financial Services (112%)
- Communications Engineering (40%)
- Pharma and Life Sciences (40%)
Incedo invests heavily in emerging technologies that will drive its clients’ businesses and will position it at the forefront of the industry. The areas where Incedo currently sees the most potential and promise for growth, and has thus focused the majority of its innovation and R&D efforts over the last year, include chatbots, artificial intelligence (AI), Natural Language Processing (NLP) and advanced analytics.
Incedo has invested in these areas by hiring experts across verticals to build a deep bench of leadership in these technologies, partnering with other labs and acquiring assets to provide strong solutions to customers, and launching several dedicated R&D labs, including the Incedo Innovation Lab. The labs analyze and test innovative ideas for clients, build prototypes, and develop solution Accelerators and Frameworks to help customers reduce implementation time and cost. For example, the company developed a framework that enables clients to launch a new chat bot with greater ease and less time. Incedo has also built dedicated practice areas in related horizontal offerings including IoT and robotic process automation (RPA).
“Our strong focus on emerging technologies is designed to meet clients’ needs, so they can remain innovators and leaders in their industries, and better meet their own customer demands,” continued Miglani. “We’ll continue to invest in these areas and other technologies as they continue to emerge and evolve. It is this constant forward-looking and customer-focused approach, combined with strategic partnerships and acquisitions, that have facilitated our growth, and we look forward to broadening our engagements and deepening our current relationships in 2017.”
