Bangalore: NeoIT, a global provider of service value chain automation (SVCA) technology and services, hopes to increase its business projects to $250 million in 2002. Addressing a press conference neoIT co-founder and managing director Avinash Vashistha said, “We handled projects over $90 million in 2001 and expect to handle projects worth $250 million in 2002.”
The company has helped its global buyers achieve savings of $28 million, he claimed.
According to him 50 per cent of the projects in 2002 would go to India-based providers, while in 2001 70 per cent went to them. NeoIT, has four major revenue sources — licensing and related, global services exchange transaction fees, consulting/advisory services and others such as neoQA, seminars, etc.
The company, with an increased clientele and user base, is expecting 40 per cent of its revenues from licensing and related areas in 2002, which will be a substantial increase over the 5 per cent in 2001.
The company is expecting steady growth in all the areas of operation.
NeoIT, in association with its global sourcing advisory partner TPI, is also planning to capitalise on the increased interest in business process outsourcing (BPO).
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