February 5, 2009 - Bangalore, INDIA
Designed to enable strategic sourcing and better analysis of spend information to help organizations save on sourcing costs
MindTree Ltd. (NSE: MINDTREE), a global IT and R&D Services company, today announced the availability of its Spend Analysis Solution for the manufacturing industry. MindTree's Spend Analysis Solution will now offer organizations in the manufacturing industry enhanced control and optimization of their procurement costs.
With sourcing accounting for up to 75 percent of the total cost base of typical manufacturing organizations, extracting the required intelligence out of spend data not only directly contributes to cost savings but also provides significant inputs for budgeting, planning and product strategies. MindTree's Spend Analysis Solution is aimed at helping organizations create global visibility into their spending patterns and save costs by making better, more informed sourcing decisions.
The solution is based on MindTree's Re-Usable Business Intelligence Components (RUBIC) framework, which is a result of MindTree's rich experience in building business intelligence solutions for the world's leading manufacturers. The framework consists of three layers - data integration layer, to support consolidation of data from multiple transaction systems; intelligence layer, that contains spend related business metrics; and presentation layer, to enable intuitive and user-friendly dashboards for information delivery. Usage of these standardized technology components improves solution quality and significantly reduces the time-to-value for customers.
"With this solution, we hope to help our customers save costs via spend volume aggregation, supplier rationalization, improved contract compliance and 'requisition to pay' process improvements," said MindTree vice president and head, Manufacturing Industry Group, Vikram Amaranath. "We believe our solution is well placed to help companies deal with the issue of controlling costs, which has become a strategic priority in the current economic environment."
MindTree's Manufacturing Industry Group offers consulting and IT services to automotive, discrete manufacturing, consumer products and process industries. The services offered span the entire value chain of manufacturing and cover areas such as product development, procurement and logistics, manufacturing and operations, sales and distribution and customer service. Services include application development, package implementation, application maintenance and support, testing services and infrastructure management. The Group also offers solution frameworks aimed at addressing specific industry needs such as in trade promotion management, dealer management, warranty management and manufacturing execution.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
MindTree Limited is a global IT and R&D Services Company co-headquartered in the U.S. and India. With a passion for customer satisfaction, MindTree partners with its clients to create a transparent, value-based relationship. Our domain experts deliver business-enabling solutions by leveraging a consulting led, framework-based and IP-driven approach. MindTree's IT Services business provides a range of services to CIOs across a variety of industry segments. Our R&D Services business works with Technology companies to help build innovative products by providing Product Realization services. MindTree has acquired an 80% equity stake in Aztecsoft Ltd., a global leader in outsourced product development and independent testing. The Company intends to complete the merger by April 2009.
MindTree was named among the Top 30 offshore service providers by the International Association of Outsourcing Professionals and Fortune Magazine. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management, and the National Award for Excellence in Corporate Governance. MindTree is publicly listed in India. Please visit us at www.mindtree.com.