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InfoBeans – Accelerating Growth And Digital Transformation In The Software Industry

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Below is our recent interview with Mridul Maheshwari, Senior Manager Corporate Development at InfoBeans:

Q: Could you provide our readers with a brief introduction to your company?

A: InfoBeans, founded in 2000 and now 1450+ strong, is a fast growing public company in India. We primarily operate in four geographies – US, Europe, Middle East and India with the US contributing 70% to our business. Our delivery centers are spread across 4 cities in India. We have been growing at a CAGR of 30% using organic and inorganic means. We acquired two firms, a design and UX firm in the US in 2019 and a Salesforce consulting firm in India in 2021.

Q: Any highlights on your recent announcement?

A: We are pleased to share our year-end financial results. InfoBeans’ revenue grew remarkably by 38% year over year. Our EBITDA margins are healthy at 21%. Our focus remains on capturing revenue while improving margins in the near term.

We successfully added nine large enterprise clients through the year, three of which are Fortune 500 companies. The number of clients with billings in excess of $1 million rose from nine to thirteen.

As part of our core strategy, we strive to expand into these large enterprise clients.

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Q: Can you give us more insights into your offering?

A: Our service offerings can be divided into two parts

  1. Digital Transformation – We help enterprises to use digital technologies to transform traditional and non-digital business processes and services into digital.
  2. Product engineering – From ideation, user research and strategy, rapid prototyping to design and deployment, we help companies create and deploy future-ready software products.

We strive to deliver value for our clients using cutting-edge technology in software design and engineering while solving the most complex business problems and fulfilling our clients’ most ambitious business aspirations. Strengthened by our partnerships with Salesforce, ServiceNow, Microsoft, UiPath, and Automattic, our services enable corporations to digitally transform their businesses and gain a competitive advantage.

Apart from the above, we have recently ventured into the field of blockchain technology and are proud to share that we have landed our first client in FY 22-23 to develop a comprehensive NFT platform, encompassing product strategy, design, and engineering.

Q: What can we expect from your company in the next 6-12 months? What are your plans?

A: For the last 12 years, InfoBeans has been doubling itself every three years. Interestingly, in the last two years, we have doubled our annual revenue from USD 24 million to USD 48 million. We avoid giving any specific guidance in the short term, but in the long term, our aim is to grow at a fast pace. We anticipate growth to come from a good mix of organic and inorganic sources.

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Q: What is the best thing about your company that people might not know about?

A: Thank you for the open question. We are a growing company that consistently remains focused on building long term relationships with our stakeholders. For customers, we strive to deliver services beyond their expectations and create WOW for them.

For team members, we provide them with a happy workplace, enabling them to deliver their best and keep evolving in their careers. For investors, we aim for faster and more sustainable growth, thereby generating a higher return on their investment. For records, we have grown our revenue from USD 4.8 million to USD 48 million in 8 years straight!

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