Shyamala Seetharamanan, Chennai, October 6, 2008
Financial Chronicle
Adrenalin’s human resource product suite by the same name covers all human resource processes from the time of raising request for positions to induction, confirmation, employee self-service and separation. This year alone 110 companies in India have chosen Adrenalin as their human capital management software, said Balaji Ganesh, chief executive officer of the company.
“Reaching the 300-customer mark was the target for this year. We have already reached it. Doubling our customer base and expanding to tier II cities in India and overseas locations is our focus,” he added.
Adrenalin has acquired three customers in Singapore and one in the West Asia region. The company expects traction from its multinational customers in India to adapt the product in their other locations.
Adrenalin caters to businesses in the mid-market segment across 14 industry verticals in almost all tier I cities. Manufacturing and IT companies are the major customers, he said.
Tier II cities also offer a sizeable market and Adrenalin would reach businesses there through channel partners, he added. The product can be made available over the Internet or on intranet within organisations, Ganesh said.
According to Forrester, the human resource/ human capital management market globally is at $5.9 billion (about Rs 28,000 crore) in license, maintenance and subscriptions and is expected to grow at 9 percent through 2011 with the highest growth coming from performance and compensation solutions.
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