PROACTIS Holdings PLC Entry into the Indian Market through Joint Venture
March 13 2013 - 3:02AM
RNS Non-Regulatory
TIDMPHD
PROACTIS Holdings PLC
13 March 2013
Date: 13 March 2013
On behalf of: PROACTIS Holdings PLC ("Proactis" the "Company"
or "the Group")
Embargoed until: 0700hrs
PROACTIS Holdings PLC
Entry into the Indian Market through new Joint Venture
-- New territory for the Group with significant opportunity
-- Outsourced procurement services to be provided on the Group's software platform
-- Engaged with a global producer of recognised branded products to consumer markets
PROACTIS Holdings PLC ("PROACTIS", the "Group" or the
"Company"), a global Spend Control and eProcurement solution
provider, announces the launch of its joint venture operation,
Proactis Total Procure Private Limited ("PTP"), to provide its
services to the growing Indian market.
Indian businesses are increasingly seeking to meet the
challenges of competing on a global basis by improving the
transparency and reliability of their procurement processes, whilst
also, in line with businesses across the globe, seeking to grow
profits through reducing costs.
PTP will provide outsourced procurement services to the Indian
market, initially incorporating procurement reviews, vendor
networking, sourcing and contract management delivered using
PROACTIS' established global software platform and its procurement
expertise. In the first month of operation, PTP has already engaged
in an exploratory project for the provision of these services to a
global producer of recognised branded products to consumer
markets.
PTP has been established in collaboration with two joint venture
partners, Khwantum Capital Private Limited and Avan Projects
Private Limited. These partners provide an opportunity to
accelerate commercial traction through access to a unique network
of decision makers.
Rod Jones, CEO of PROACTIS, commented:
"We are delighted to announce the launch of our operation in
India which continues our strategy to increase our presence in new
territories and increase our exposure to the SaaS model. The Indian
market opportunity is significant and I am excited at the prospect
of working with our partners to access it."
End
For further information, please contact:
PROACTIS Holdings PLC
Rod Jones, Chief Executive Officer Via Redleaf Polhill
Tim Sykes, Chief Financial Office
Redleaf Polhill
Rebecca Sanders-Hewett /Jenny Bahr 0207 566 6720
finnCap Limited
Charlotte Stranner 0207 220 0500
Notes to Editors:
PROACTIS is a leading provider of Spend Control and eProcurement
solutions. Hundreds of organisations around the world use PROACTIS
software and services to streamline and automate processes and
obtain best value and control in procurement.
Source-to-contract solutions: help organisations to automate the
full buying cycle from improving the way they find, evaluate and
engage suppliers to increasing "on contract" spending and enabling
more effective collaboration with their trading network.
Purchase-to-Pay solutions: enable organisations to streamline
the purchase to pay process, eliminate labour-intensive manual
registration of invoices, speed up invoice matching and approvals
and gain control of the "after-the-event" purchase claims.
Widely used in mid-to-large sized organisations across private,
public and not-for-profit sectors, PROACTIS is routinely integrated
with ERP and financial systems. PROACTIS also offers a range of
cloud-based delivery options, including Software-as-a-Service
("SaaS") and dedicated-hosted application delivery, and flexible
licensing models.
PROACTIS was founded in 1996 and has been listed on the London
Stock Exchange since 2006 (AIM: phd). Headquartered in the UK with
direct operations in Europe, North America, and Asia Pacific,
PROACTIS also has an extensive global partner network.
About the Joint Venture companies:
Khwantum Capital Private Limited Indian Company Registration
number U74910WB2008PTC123792
Avan Projects Private Limited Indian Company Registration
number U27101MH2009PTC196148
This information is provided by RNS
The company news service from the London Stock Exchange
END
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