Ramco Systems posts Q1 revenue of USD 19.23m

Ramco Systems posts Q1 revenue of USD 19.23m

• Continues to bet big on Aviation, Aerospace & Defense, and Global Payroll business
• Ramco’s Self Explaining Payslip, a move towards Conversational UI 

Chennai, India – July 28, 2021: Ramco Systems (BSE -532370, NSE – RAMCOSYS); a global enterprise software company focusing on Next Generation Cloud Enterprise Applications, today announced the results for the first quarter of 2021-22.

For the quarter ended June 30, 2021 (Q1: 2021-22), global consolidated income of Ramco Systems Limited stood at USD 19.56m (Rs 142.9cr). The net loss after tax for the quarter amounted to USD 1.22m (Rs. 8.9cr).

Q1 Financial Highlights:

• Quarterly order bookings stood at USD 19.74m
• 3 ‘Million-Dollar-Plus’ deals signed

Q1 Business Highlights:

• Ramco Aviation continues its breakthrough in the eVTOL/ UAV space with the addition of two new deals, in the quarter
• Launches Self Explaining Payslip, a smart, AI-based service that lets employees seek explanations of their compensation and payslip component, a move towards Conversational UI approach
• Ramco ERP further cements its footprint in the U.S. with a leading facility management and commercial cleaning service provider
• Continuous strict lockdown in Asia on account of Covid had significant impact on Order Booking for Q1
• Order Book pipeline continues to stay healthy

Commenting on the business focus, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “Organizations today have become more focused towards transforming their business through innovative, digital strategy to make them more agile. To align with this, we are investing significantly in building next generation products, with modern user experience, embedded with AI / ML.”

“Our Aviation, Aerospace & Defense, and Global Payroll business continue to make a mark in the global markets with some early wins and several innovative features. We look forward to continuously improve and capitalize on the opportunities ahead” he added.

About Ramco Systems:

Ramco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ramco Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On Innovation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and  Machine Learning and Event Driven Architecture by building features such as Talk It – which allows transactions to be carried out by simple voice commands, Bot it – which allows users to complete transaction using natural conversations; Mail It – transact with the application by just sending an email; HUB It – a one screen does it all concept built to address all activities of a user; Thumb It – mobility where the system presents users with option to choose rather than type values and Prompt It – a cognitive ability which will let the system complete the transaction and prompts the user for approval.

With 1800+ employees spread across 24 offices, globally, Ramco follows a flat and open culture where employees are encouraged to share knowledge and grow. No Hierarchies, Cabin-less Offices, Respect work and not titles, among others are what makes the team say, Thank God it’s Monday!

Leader in NelsonHall’s NEAT Matrix for Next Gen Payroll Services

Winner of 2020 ISG Paragon Awards Asia Pacific, for ‘Transformation’ and ‘Collaboration’

Winner Global Payroll Transformation Project of the Year – 2019 by Global Payroll Association

Positioned as Major Contender in Everest Group’s Multi-Country Payroll Platform PEAK Matrix

For more information, please visit http://www.ramco.com/

Follow Ramco on Twitter @ramcosystems and stay tuned to http://blogs.ramco.com

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Ramco Systems may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.—