By IANS
Chennai : Targeting a higher share in the $8 billion Indian offshore testing opportunity, Chennai-based independent software testing company Maveric Systems Limited has come out with an automated software testing tool.
Developed at an investment of around $1 million, the proprietary software tool called Testac promises to reduce software testing time by 30 percent, CEO Ranga Reddy told reporters.
According to him, Maveric Systems is the only Indian software testing company to have such a proprietary tool.
The Testac can test software products in the space of retail banking (core, consumer and mortgage), wholesale banking (core and corporate lending) and Islamic banking (retail and corporate).
Speaking about the market trend, Reddy said software product developers were now looking for software testing companies that can check the functionality and performance of their products.
“During the initial days the need was for an independent software tester for objectivity. Later the focus was on testing for regression and repeatability and testing companies were chosen based on their domain/vertical expertise,” Reddy added.
He said the nascent Indian industry was logging an annual growth of 60 percent.
Focused on banking verticals, Maveric Systems is getting into testing insurance software products.
The company is in the process of assembling a good team for the insurance vertical.
For the next fiscal, the company is targeting revenues of Rs.670 million and a profit of Rs.130 million.
The company gets around 80 percent of its revenues from overseas clients.
“Our revenue from the US is very small. Our overseas billings are made in respective country currencies and hence we are not affected by the dollar depreciation vis a vis Indian rupees or other currencies,” Reddy said.