Friday, August 8

‘Attrition at Satyam among lowest in industry’

Hyderabad, Aug 7 IT services provider Satyam Computer has managed to bring down its attrition rate to 11.5 per cent during 2007-2008, which is amongst the industry’s lowest, according to Mr B. Ramalinga Raju, Chairman of Satyam Computer.
The growth witnessed during the last fiscal had been the result of several strategic initiatives and continuous investments despite the fairly hostile macro economic environment of the rupee appreciating and talent cost going up, Mr Raju conveyed to the company shareholders in the annual report filed with the Securities and Exchange Commission.
To curtail margin pressures, the focus has been on increasing billing rates and offshore revenue contributions, diversifying regional revenue mix. These initiatives worked and the North American revenue was down at 60.35 per cent versus 64.53 per cent the previous fiscal.
The company also changed its corporate tagline ‘Business Transformation Together’.Two subsidiaries
During the year, the company created two subsidiaries in Egypt and Brazil to address regional markets and to help serve the region. It had also bagged the mandate to serve as a strategic partner for FIFA World Cup and to provide IT services during 2010 and 2014 world cup tournaments.
The company has 617 active clients; of them more than 180 are on the US Fortune 500 list.
Acquisitions have helped the company enter new areas of services complimenting the company business. These include Citisoft, Knowledge Dynamics, Nitor Global, Bridge Strategy and SV Consultants.
India is considered to be one of the most favoured destinations for offshore IT service delivery and trends point towards large, multi-year deals. The company sees domestic market is coming of its own and is witness to a high degree of mergers and acquisitions, involving some key players in the market.
Referring to tangible and intangible assets, the company maintained its brand value is now estimated at Rs 9,873 crore.

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