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Tuesday, 22 January 2002 00:00 |
Glendale, CA - Internet World, a leading business technology trade magazine, featured Systech's Audit & Analytics solution for its cover story. The article, written by Karen J. Bannan, spotlights the key features of Systech's powerful business intelligence solution for corporate accounting and finance. In the interview, Keshav Kuthiala, Systech's Director of Technology and Partnerships, outlines the significant and often immediate financial impact that Audit & Analytics can provide organizations.
For more, please visit Internet World or simply read the transcribed article below:
- Business intelligence is only smart if it actually saves you money, whether by cutting costs or manpower hours. While every company says its program does just that, it's not clear whether each one actually does. Systech Solutions Inc., a Glendale Calif.-based professional services firm announced a new financial business-intelligence program that, according to its executives, has a nearly instantaneous return on investment.
- 'Systech's new program called Audit and Analytics, built on MicroStrategy's business intelligence platform, is designed for the accounts receivable and payable departments. Using the program, companies can find lost money, streamline their billing and payment systems, and gain additional insight into where they can glean additional discounts. To date, companies using the program are pleased with Audit and Analytics', says Keshav Kuthiala, Systech's director of technology and partnerships.
- 'Most of the customers install and save between $1 million and $10 million, depending on how many invoices they are handling,' he says. 'And since companies typically wait until the end of the year to audit themselves, they're also getting the added benefits of being proactive.'
- 'The program, which costs between $100,000 and $150,000 includes implementation and customization analysis of the company's accounts payable and receivable financial transactions where it looks for mistakes and lost opportunities. For example, the program looks for inaccuracies such as discrepancies between purchase orders, invoices, and payment amounts and can generate letters so companies can get refunds for such mistakes. It also analyzes where companies can leverage their power with vendors, possibly seeking discounts', says Kuthiala.
- 'If your payment term is 21 days but you're mostly paying at 25 days, you're missing out on a discount. Essentially, your cash flow isn't going to be impacted if you change the process a little but you're going to be saving a lot of money,' says Kuthiala.
- The alternative to business-intelligence programs such as Systech's is a formal auditing process, but there's a downside to having an auditor in. Most importantly, auditors usually charge between 30 to 50 percent of whatever cost savings he or she discovers. While it's bad enough that auditing can be expensive-if a company is wasting $1 million each year the auditor's fee is $500,000-most companies only use an auditor once or twice a year, missing out on month-to-month savings from interest on their finances.
- Still, Systech's program may not be a good fit for every company. Small- to medium-sized businesses may not have the financial resources to install such a program. In addition, the installation time-up to 12 weeks in some cases-can be a hardship for some, especially those with limited IT and accounting staff. But Kuthiala says programs such as Audit and Analytics are something that most companies should at least evaluate.
- 'In today's market, where a lot of people are looking inwards to achieve savings, this is money they are leaving out on the table,' he says. 'Analytic programs give companies independence and a way to achieve savings.'
About Systech Solutions
Since 1993, Systech Solutions, Inc. has been the dynamic choice for Business Intelligence, CRM, e-Business, Supply Chain and ERP solutions. Systech's services leverage business and technology expertise to eliminate inefficiency throughout the client's supply chain, reducing time and increasing revenue. Systech brings innovative methodologies, years of industry experience and unequalled professional integrity to every project. www.systechusa.com
About Internet World Magazine
Internet World is the leading business technology trade magazine. Published 22 times per year with a circulation of 225,000 qualified Internet business strategists, Internet World provides trusted information and expert insights necessary to make informed and effective strategic management and purchasing decisions to drive businesses' Internet initiatives. In addition to the U.S. edition, Internet professionals in 20 countries on five continents read eight international editions. Internet World is a BPA-audited, Intelliquest-measured publication. www.internetworld.com
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Thursday, 06 December 2001 00:00 |
Mumbai, India - Today Systech Solutions, Inc (www.systechusa.com), Compaq India (www.compaq.co.in) and MicroStrategy, Inc. (www.microstrategy.com) announced their plans to co-develop a line of Finance and Telecomm Business Intelligence applications. The best-of-breed combination of Compaq's NonStop Himalaya SQL servers with MicroStrategy's BI toolset and Systech's expertise in custom solutions for the Financial and Telecomm industries is expected to make a powerful offering in the Indian market.
Key benefits for the Financial community will include Marketing & Segmentation Analysis, Sales Analysis, Asset Management, Underperformance Analysis, Profitability and Risk Management. Similarly, the Telecomm solution will provide Churn Analysis, Product Affinity Analysis, Product Plan Analysis, Customer Detail Records (CDR) and more.
Continuing its tradition of rapid expertise in new technologies, a team from Systech Solutions' Mumbai office became the first Indian group to develop a business intelligence solution on Compaq's NonStop Himalaya SQL Server. MicroStrategy showed its commitment to the Systech alliance by having Vice President, EMEA, Darren Jaffery personally attend the alliance meeting with Compaq and Systech. During the course of discussions with the Compaq team, Mr. Jaffery said, "Our relationship with Systech has built up over a period of time due to more than fifty successful business intelligence projects. Their expertise is the clearest proof of why Systech is the preferred partner for MicroStrategy."
Sridhar Ramaswamy, Systech's Director of Asian Operations, had long discussions with Mr. Jaffery and the Compaq team on front-ending Microstrategy in Indian markets and the types of offerings businesses can expect from the three-way partnership. With this cemented trio of alliances, Systech became not only a Preferred Partner of MicroStrategy but also of Compaq. The line of dynamic Business Intelligence products specific to Indian Financial and Telecomm markets should be available in the second quarter of 2002.
About Systech Solutions
Since 1993, Systech Solutions, Inc. has been the dynamic choice for Business Intelligence, CRM, e-Business, Supply Chain and ERP solutions. Systech's services leverage business and technology expertise to eliminate inefficiency throughout the client's supply chain, reducing time and increasing revenue. Systech brings innovative methodologies, years of industry experience and unequalled professional integrity to every project. www.systechusa.com
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Wednesday, 14 November 2001 00:00 |
Glendale, CA - Systech Solutions, Inc. (www.systechusa.com), a leading end-to-end IT solutions provider, has been named the number one entrepreneurial growth leader north of Los Angeles. The San Fernando Valley Business Journal, a prominent Los Angeles-based publication, today released its annual ranking of the region’s fastest-growing private companies.
Systech has achieved a record 665% growth in revenue between 1998 and 2000, with sales expanding from $1.7 million in 1998 to $13 million in 2000. The company’s customer base encompasses a diverse group of clients, including Nike, Nissan, American Express, Calvin Klein, EarthLink, Ingram Micro, Universal and more. With a 97% customer retention rate, Systech’s #1 ranking highlights its continuing success in the IT services industry – as does the expansion in 2001 of U.S. sales offices in Portland, San Francisco, San Diego and a South Asian sales office in Mumbai (Bombay).
As a Glendale-based business, Systech was listed in the San Fernando Valley Business Journal’s list, while its sister publication the Los Angeles Business Journal today released its own growth list for the city of Los Angeles. Significantly, Systech’s 665% revenue growth rate for the same period easily outstripped the Los Angeles Business Journal’s number one pick (coming in at 540%).
“It is gratifying to see Systech recognized as the fastest growing company in Los Angeles,” said CEO Arun Gollapudi. “In 1993, when we founded the company with two people in a garage, we dreamed big – but certainly didn’t expect to be named the growth leader of Los Angeles in just eight years. It is a testament to the passion and dedication of our teams that we’ve achieved so much. I believe this ranking also speaks to the trust shown by our customer base. Systech has resolved some of the most difficult business challenges for customers, and their loyalty has been our reward. We have always said that our surest measure of success is the trust of our clients.”
Systech’s co-founders, Arun Gollapudi and Srini Ramaswamy, are also featured in a spotlight article on page 25 of this week’s San Fernando Valley Business Journal. The piece, entitled “The Fix is In… Problem Solving” highlights the origins of the company, its innovative business solutions and rave reviews from recent Fortune 500 clients. Recently named to the Inc 500 for the second consecutive year, Systech Solutions is receiving widespread recognition as a dynamic company managing its growth and leadership in the Southern California economy.
(Click here for rankings)
About Systech Solutions
Since 1993, Systech Solutions, Inc. has been the dynamic choice for Business Intelligence, CRM, e-Business, Supply Chain and ERP solutions. Systech's services leverage business and technology expertise to eliminate inefficiency throughout the client's supply chain, reducing time and increasing revenue. Systech brings innovative methodologies, years of industry experience and unequalled professional integrity to every project. www.systechusa.com
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Thursday, 01 November 2001 00:00 |
Glendale, CA - Systech Solutions, Inc. (www.systechusa.com), a leading end-to-end IT solutions provider, was named one of America's entrepreneurial growth leaders by Inc Magazine for the second year running. Inc Magazine today released its annual ranking of the Inc 500, the nation's fastest-growing private companies.
Systech has achieved a staggering 2,100% growth in the past five years, with sales expanding from $600,000 in 1996 to $13 million in 2000. The company's customer base encompasses a diverse group of clients, including Nike, Nissan, American Express, Calvin Klein, EarthLink, Ingram Micro, Universal and more. With a 97% customer retention rate, Systech's ranking at 116 highlights its continuing success in the IT services industry - as does the expansion in 2001 of U.S. sales offices in Portland, San Francisco, San Diego and a South Asian sales office in Mumbai (Bombay).
"We are extremely pleased to be recognized again by Inc Magazine's prestigious list," said Systech CEO Arun Gollapudi. "If anything, the feat of being named in the top 20% of the top 500 companies in America for two straight years comes down to trust. At Systech, we believe passionately in customer relationships - it's an ethic of partnering with your clients that we began almost a decade ago. The success that we've enjoyed is a reflection of the trust of our customers and our employees that Systech is dedicated to excellence in all forms."
Started in 1982, the Inc 500 ranks the nation's leading entrepreneurial firms according to sales growth over the previous five years. Former Inc 500 companies that have gone on to become household names include Microsoft, Timberland, Domino's Pizza and Patagonia. This year's Inc 500 set records in terms of both collective sales and growth rates, racking up a collective total of $12.5 billion in sales and an average 5-year growth rate of almost 2,000 percent.
"The Inc 500 gives America a window on the future - which companies will be the Microsofts and Timberlands of tomorrow," said George Gendron, Inc editor-in-chief. "The economy may have slowed, but entrepreneurial enterprises have always been, and will continue to be, the nation's foremost engine of growth and job creation."
To be eligible for this year's Inc 500, companies had to be independent and privately held through 2000, have at least $200,000 in sales in the base year of 1996, and their 2000 sales had to have exceeded 1999 sales. Holding companies, regulated banks and utilities are not eligible. Inc verifies all information using tax forms and financial statements from certified public accountants, and by conducting interviews with company officials. .
About Systech Solutions
Since 1993, Systech Solutions, Inc. has been the dynamic choice for Business Intelligence, CRM, e-Business, Supply Chain and ERP solutions. Systech's services leverage business and technology expertise to eliminate inefficiency throughout the client's supply chain, reducing time and increasing revenue. Systech brings innovative methodologies, years of industry experience and unequalled professional integrity to every project. www.systechusa.com
About Inc Magazine
Founded in 1979, Boston-based Inc Magazine was acquired last year by G+J USA, one of America's largest magazine publishers and is part of the company's newly formed Business Innovator Group. G+J USA also publishes Fast Company, Rosie, Child, Family Circle, Fitness, Homestyle, Parents and YM. The company is 25.1 percent owned by the Jahr Group and 74.0 percent owned by Bertelsmann AG, the largest privately held and the fifth largest media company in the world, with yearly revenues at $16 billion. www.inc500.com
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Friday, 13 July 2001 00:00 |
Glendale, CA - As part of its special Business Spotlight section, the San Fernando Valley Business Journal recently interviewed Systech COO Srini Ramaswamy. Shelly Garcia, a senior reporter for the weekly publication, was interested in Mr. Ramaswamy’s perspective on managing company resources while experiencing corporate growth amid the general IT industry slowdown. An excerpt of the article is attached below:
“Srinivasan Ramaswamy has one of the best problems a chief operating officer can have – managing his company’s growth,” Garcia writes. “Revenues have soared from $472,000 in 1995 to $11.8 million, making the company 79th on inc. Magazine’s list of the 500 fastest growing privately held companies last year. With a growth rate in excess of 2,000 percent, some might start flying by the seat of their pants. But Ramaswamy and Arun Gollapudi, the company’s other co-founder and CEO, took a far more methodical approach. Ramaswamy spoke about it with Business Journal senior reporter Shelly Garcia.”
“‘What we have done differently from (other companies) in our industry is the way we are structured. There’s not too much hierarchy, and decisions are made by teams. When we are growing like this, decisions have to be made fast. (Groups are) autonomous in decision-making with assistance from Arun and I.’”
Mr. Ramaswamy goes on to say: "I think everybody walks into an organization with certain expectations of how the organization should be. Managing that is the most difficult. Apart from that, I think every other challenge has been a cakewalk. When I say managing expectations, we have done it by mentoring, by encouragement, by being critical about any process. We have post-mortems for almost anything, success or failure. Being at the top I have to be open to being criticized myself. That’s the only way, the two-way communication, and I think that has helped us a lot. We are not the only people who are steering the boat. I think when you hire people you have to manage expectations so they help in steering the boat."
The San Fernando Valley Business Journal article highlights the team hierarchy that lies behind Systech’s evolution over the past eight years. Moreover, the article emphasizes the manner in which Systech has emerged as a business leader in Southern California. For the complete article, please look for “The Briefing – The Boss’ Management Strategy” section in the San Fernando Valley Business Journal, Volume 6 Number 13, or click here for an online transcript.
About Systech Solutions
Systech Solutions, Inc. (www.systechusa.com) is a leading professional services firm delivering customer-focused business solutions. Systech combines cutting-edge business intelligence, CRM/eCRM and web technologies with business strategy to help clients achieve sustained competitive advantage. Their effective business solutions help clients drive business performance and cultivate long-term relationships with their most valuable customers. Simply put, Systech specializes in rounding the edges of square-peg technology solutions - providing an ideal fit for unique business models.
Founded in 1993, Los Angeles-based Systech Solutions has grown internationally, with offices along the West Coast (San Francisco, Irvine, Portland), Connecticut, the United Kingdom and India. To offer its clients cost-effective solutions, Systech established an Offshore Development Center in Chennai, India. Their incredible growth story recently resulted in Systech being named the 79th Fastest Growing Company in America by Inc. Magazine.
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