Ramco Systems Recognised as a Leader in Everest Group’s 2024 APAC Multi-Country Payroll (MCP) Solutions PEAK Matrix®

Key Takeaways from the Announcement

• Ramco maintains its Leader position in the 2024 APAC MCP Solutions PEAK Matrix®, demonstrating sustained impact and capability in the payroll sector.
• The newly launched Ramco Payce solution enhances efficiency and automates payroll workflows, improving the user experience.
• Serving over 500 clients with operations in 150+ countries, Ramco's payroll system integrates seamlessly with leading HCM providers.

This is the third consecutive year Ramco has achieved this distinction, underscoring its commitment to delivering innovative payroll solutions that address complex multi-country payroll needs in the Asia-Pacific region. Ramco’s new Ramco Payce solution enhances this offering by automating workflows, improving efficiency, and simplifying HR processes.

Commenting on the announcement, Priyanka Mitra, Vice President, Everest Group, said, “In recent years, the payroll market has been witnessing a shift toward a more technology-enabled ecosystem to cater to evolving needs of buyers. Ramco exemplifies this trend with its technology-first approach, evident through the launch of its Payce platform, which leverages nextgen technologies to minimise manual intervention across the payroll value chain, improving payroll processing efficiency and user experience. Additionally, its strong footprint in the APAC region and its recent partnerships aimed at extending its geographical reach and capabilities further has solidified its position as a Leader on the Everest Group’s APAC Multi-country Payroll (MCP) Solutions PEAK Matrix® Assessment."

The Everest Group’s assessment evaluated 28 MCP providers based on their market success and service capabilities, noting Ramco’s extensive reach in APAC and its advanced payroll functionalities as key strengths. Ramco Global Payroll, trusted by over 500 clients worldwide, offers comprehensive payroll solutions across 150+ countries. The platform integrates with top HCM systems and delivers a digital payroll solution, available both on-cloud and as a managed service. With new features, such as self-service reporting, serverless payroll, and a Quick Implementation Toolkit, Ramco’s payroll platform enables faster and smoother deployments, supported by cutting-edge technologies like AI, machine learning, and robotic process automation for a touchless payroll experience.

Speaking on the recognition, Rohit Mathur, SVP & SBU Head – Global Payroll & HR, Ramco Systems, commented, “At Ramco, we are committed to helping organisations achieve payroll transformation with our innovative solutions and exceptional services. Ramco Payce, launched earlier this year, is the latest iteration of this commitment, offering a modern, user-centric, and lightning-fast payroll processing solution. With advanced capabilities like on-demand reporting, no-code rule building, and actionable payroll workspaces, Ramco Payce is empowering organisations to optimise their payroll operations, enhance employee efficiency, and generate insights for decision-making and growth. Being recognised as a Leader by Everest Group further validates our strategic direction and our impact in the market.” 

About Ramco Systems:  

Ramco Systems is a global enterprise software provider, innovating in cloud and mobile-based solutions for over 25 years. Serving over 1,000 clients worldwide, Ramco specialises in Global Payroll, Aviation Aerospace & Defence, and ERP solutions. Known for its forward-thinking approach, Ramco employs AI, ML, RPA, and blockchain to help organisations achieve digital transformation and business efficiency across diverse industries.

Key Takeaways from LTIMindtree’s Expansion:

• LTIMindtree opens a 6,500-square-foot facility in Houston, Texas.  
• Centre for digital transformation, AI solutions, and ESG initiatives.  
• Strengthening ties with clients in the energy and oil & gas sectors.  
• Hosting workshops, upskilling opportunities, and design thinking sessions.

This expansion marks a significant step in the company’s strategy to strengthen its presence in the United States and foster closer collaboration with clients, particularly in the energy and oil & gas sectors.

The new facility will serve as a hub for innovation, supporting LTIMindtree’s clients with digital transformation, AI solutions, and environmental, social, and governance (ESG) initiatives. It will also offer training and upskilling opportunities for both LTIMindtree and its clients’ teams, focused on next-generation technologies.

The ceremony was attended by several prominent figures, including Brad Mushinski, Director of Constituent Services for Houston City Council, and DC. Manjunath, Consul General of India in Houston.

The facility will host joint innovation workshops and design thinking sessions, as well as work on solutions to drive digital transformation and innovation across various industries.

About LTIMindtree 

LTIMindtree is a global technology consulting and digital solutions firm that helps businesses across various industries reimagine their business models, accelerate innovation, and maximise growth by leveraging digital technologies. As a digital transformation partner to over 700 clients, LTIMindtree combines deep domain expertise with cutting-edge technology to drive competitive differentiation, enhance customer experiences, and deliver superior business outcomes in an increasingly interconnected world. With a workforce of more than 84,000 skilled and entrepreneurial professionals across over 30 countries, LTIMindtree, a company within the Larsen & Toubro Group, addresses the most complex business challenges and delivers large-scale transformation.

Key Takeaways from the Financial Performance

• DevIT achieved a substantial 390% YoY increase in consolidated PAT, reaching ₹8.07 crore in Q2 FY25.
• New contracts include a ₹2 crore order for Kaushal Darpan, a ₹5 crore contract for RAJKISAN SATHI, and a ₹97 lakh IT services agreement with GSFC.
• DevIT received the "IT as a Service" award at the MSP India Summit and played a key role in launching the SWIT system for IFSCA, underscoring its industry impact and government trust.

With a notable rise in EBITDA by 329% to ₹11.23 crore, total income for the quarter was ₹48.24 crore, a 69% YoY increase, reflecting DevIT’s focus on innovative IT solutions and operational efficiency.

This quarter, DevIT also secured several strategic contracts, including a ₹2 crore order for the Kaushal Darpan portal and a ₹5 crore contract for the RAJKISAN SATHI portal from RajCOMP. Additionally, DevIT received a ₹97 lakh managed IT services contract from GSFC. 

In recognition of its impact, the company was awarded the "IT as a Service" accolade at the MSP India Summit 2024. With ongoing contributions to prominent projects, such as the recently launched Single Window IT System (SWIT) for IFSCA, DevIT is poised for continued growth.

Speaking on the financial performance, Mr. Pranav Pandya, Founder & Chairman, commented, “We are pleased to announce our financial performance for Q2 FY25, demonstrating our commitment to innovation and quality. The significant growth we achieved this quarter is a testament to our team’s commitment to innovation and excellence in delivering value-driven solutions to our clients. The impressive increase in our EBITDA and PAT reflects our operational efficiency and strategic growth across multiple service lines. This quarter’s successes, from securing valuable contracts like Kaushal Darpan and RAJKISAN SATHI to receiving the prestigious MSP India Summit award, reinforce our commitment to driving digital transformation in the industries we serve. Our recent contributions to high-profile government projects, such as SWIT for IFSCA, showcase the trust our clients place in us to deliver advanced solutions that drive efficiency at a national scale.”

About Dev Information Technology Limited  

Dev Information Technology Limited was founded in 1997 as an IT services company with expertise in Cloud Services, Digital Transformation, Enterprise Applications, and Managed IT Services. With analytics platform Talligence and digital signing solution ByteSigner, DevIT is enabling the world through effective digital transformation. Headquartered in Ahmedabad, the company has offices in India and Canada. DevIT enjoys a diverse range of sectors and holds innovation along with quality and customer-centric solutions at the core of its focus. The FY24 revenue was ₹165.12 crore, EBITDA ₹15.31 crore, and PAT ₹9.48 crore.

Key Takeaways from the Partnership

• GCommerce will support the affiliate revenue-share model, thus allowing game builders and developers to earn commissions directly from transactions made by players.
• Players would, therefore, make informed decisions within a game environment, with this further reinforcing seamless engagement in the game.
• ONDC infrastructure lets gCommerce connect with many more sellers, so the type and variations of products and also manages for a more interactive as well as engaging gaming experience.

The integration, therefore, allows Indian game developers to tap into commerce through games, which will target low IAP conversion rates and limited ad revenue by unlocking new sources of scaled revenue. gCommerce enables game developers to generate affiliate-based revenue from transactions performed inside a game initiated by players, who will get access to a wide range of categories in their gaming experience.

Commenting on the partnership, Nitish Mittersain, CEO of Nazara Technologies, said, “We are excited to announce the upcoming launch of gCommerce by Nazara via integration with the ONDC Network, as it represents a significant step forward in our mission to empower game developers with effective and innovative monetisation solutions."

The open, interoperable network of ONDC will support gCommerce which will enable Nazara to connect with over 10+ categories of sellers and improve engagement with the players by bringing e-commerce directly into the gaming ecosystem. Schedued to be launched for developers in Q1 FY26, gCommerce is going to provide the same entertainment with shopping experience and unlocks the new revenue streams for the developers and an enhanced experience for gamers.

About Nazara Technologies Limited

Nazara Technologies Ltd. is India’s only listed gaming and esports company with a diverse portfolio in gaming, esports, and digital media. Nazara owns leading brands like NODWIN Gaming and Sportskeeda, offers interactive gaming through platforms like Kiddopia and WCC, and has a strong presence in global markets. Its ad tech company, Datawrkz, supports ad monetisation and user acquisition across its portfolio and for external clients.

About ONDC

Open Network for Digital Commerce (ONDC) is a government-backed initiative under the Ministry of Commerce & Industry, India, aiming to standardise digital commerce in India. Founded in 2021, ONDC fosters open, unbundled, and interoperable networks to expand the reach of e-commerce in India, helping diverse sectors integrate into the digital economy.