Enuit Targets India as Next Big CTRM Market
Enuit has always been a vendor that sought out new markets and does have established presence in North America, Europe, Singapore, Mainland China, Japan and is now setting its intention and focus on India. It’s presence in these markets and its regional coverage has allowed for Enuit to show up strongly as a perceived market leader in our last couple of Vendor Perception Studies. Now it has a focus on the Indian market where it has two offices in Bangalore and Hyderabad and a growing team of staff. “We have 25 to 30 people right now in India and that includes a recent hire of half a dozen more in the last quarter,” Ganesh Natarajan, COO and MD of India Operations, Enuit, told me recently. “We also work with a number of consulting firms there and local partners are very keen to work with us.”
Enuit sees the Indian market as interesting as it is seeing an increase in inbound inquiries for CTRM and related software in areas like metals, oil, LNG and petrochemicals. Ganesh sees the market as emerging on the back of India’s rapid growth in manufacturing and services and its ‘neutrality’ between west and east. He is actively working a number of opportunities and hopes to see some early fruit in the near future. He sees the market as having both a ‘virgin’ aspect to it as well as a replacement side where large companies with older legacy software solutions are seeking more up to date solutions.
However, India as a CTRM software market is not without challenges. “It has to be based on a different model and the right economics,” he said. “Negotiations in India are certainly different and there is a need to educate the broader market and what a good CTRM looks like these days.” Plainly, Ganesh is talking about the cost of solutions and effectiveness of delivery, and he believes that he and Enuit have a new approach that it believes is economic for both clients and Enuit going forward based on its experience in the market to date.
If Enuit is successful, and Ganesh has expectations that it will be, he sees India as a growing market filled with commodity players needing solutions. “It has a swift moving economy, no geopolitical pressures and commodities is a big industry there,” he said. “It’s one of the hottest markets out there right now.”
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