Bangalore, September 19, 2013: India's first pure-play global product venture in Business Process Management Solutions (BPMS) --Intellileap Solutions India Pvt Ltd --was formally launched here yesterday by M H Ambareesh, Karnataka state Minister of Housing.
Vijay Shankar, Director-ITBT and MD-KBITS launched IntelliPro BPMS - the company's flagship product.
Over 120 man months went into the product entailing investment of Rs. 80 million. The plan is to seek an initial funding of Rs. 500-600 million in 2015 once the product sees traction in Asia-Pacific and North America, the two focus markets. Currently 22 professionals work at Intellileap which will grow to 50+ in 2014.
Says Vignesh Hebbar, Managing Director & CEO, Intellileap Solutions: "Towards the later part of my two decades in the IT services business, as the desire to venture out in me grew, it was clear that products were the next frontier despite lack of many success stories. We chose BPMS because we knew it was a fast growing area within the overall enterprise software market and also that it adds to and builds on current investments like ERP, CRM etc. Considering, businesses are navigating a complex and dynamic business scenario, process excellence has become a key area and with a world-class product, we will help organizations achieve that. I want to thank my family, Badrinath - my co-founder, our initial set of passionate employees who believed in this vision for having come this far and building a truly global BPMS product. We look forward to hitting the market and scaling quickly."
Founded in August 2012, Bangalore-based Intellileap Solutions is a Microsoft BizSpark and a HP Alliance One partner. It has a product development center in Bangalore and will be opening offices in Kuala Lumpur to serve Asia-pacific and one in the US east coast to serve north American region. 'IntelliPRO BPMS’, it's flagship product, lets organizations take their business processes to the next level. More info here
The global market for BPMS is estimated at US$3.4 billion in 2014 growing to US$8.3 billion by 2019. While specific numbers for Asia-pacific region are not available, BPMS comes under the Enterprise Software Market which is estimated at US$3.9 billion in 2013. While Asia-pacific is a fast growing markets for enterprise software, mature markets like North America, the demand will come from enterprises looking to address their business process challenges in further depth. Infact, Gartner places Business Process Management in the magic quadrant