Porvorim based, Tangentia is on the roll. The IT company looks ready to break into the Indian big league after taking a bite of the international market, discovers Shoma Patnaik
For Goan technology company, Tangentia , benchmarking against the big names of the IT industry such as TCS or Capgemini is not the way to grow. The company aims to become the L&T of the IT world.
“The engineering giant is known for its commitment to quality and ability to deliver on time. We want to become the L&T of the IT industry,” says Vijay Thomas, founder, Tangentia, whose upbeat personality is matches the business trajectory of his company.
Thomas who spends about one-fourth of his working time in Porvorim and the rest in the Canada and the US office from where the company derives 95 per cent of its US $ 16 million revenues, explains that, in some products his company is already a competitor to TCS and therefore not in the race to copy it or similar players.
“I would want to make L&T my idol for its reputation of taking on large projects and never compromising on the quality. We would rather under promise and deliver than overpromise and fall short,” he says candidly.
Thomas adds that, the aim is to make Tangentia a US $ 50 million revenue company in the next five years. “To come out of the woods and be regarded as a steady player in the IT sector, it has been a long journey. As a startup there was always the danger that we shut down. But today after 15 years we feel that we have gone beyond survival and have done quite well. We have got to a point where we can scale after hitting critical mass,” he says.
A boutique technology solution company, Tangentia is looked upon as a success story by local government officials who wish to make the state a destination for IT. The company is also seen as contributing significantly to the local tech ecosystem.
The company’s next step will be to take a crack at the domestic market where so far the presence has been small. Thomas is bullish on India and is firm believer of the ‘India story’ being pitched by the government. He points out that, the Canada office contributes to 40 per cent of the business while US contributes 30 per cent. In future with the Indian economy expected to grow exponentially vis-à-vis developed economies the plan is to build up the Porvorim office and gather Indian clientele.
“We have been quite successful in making our Goa office not just a support center for our global operations but actually selling services to domestic clients. Previously we were more back-office oriented but today we are focused on working out the best model to take on new geographies and new products,” he says.
In terms of products, the company will focus on process automation, robotics, artificial intelligence and technology solution to e-commerce. As a start the company is working on a pilot project in supply chain gateway for Reliance Trends. The project involves developing digital warehouse for the retail chain and if bagged is likely to be a major achievement.
Besides being bullish on India operations, Thomas is also optimistic on Goa. “In 2005 when I started the company the IT industry here was hardly developed. Today I feel the state has an IT ecosystem with its own tech community.” He feels that local officials are on the right track in promoting the state as an IT hub looking at the steady increase in the number of technology startups.
With Tangentia firmly on the road to future sustainability, Thomas is in the evolution mode. “So far we have been frugal in expenditure but now we feel confident to spend. The company that currently employs 150 people will increase its strength to 300 by the year end,” he says.
Recently Tangentia launched two innovation labs- in Patto Plaza, Panaji and Canada to foster R&D by facilitating partnerships between local IT companies and academia. Further the company was also instrumental in getting the Indo-Canadian Chamber of Commerce to Goa and facilitating a MOU between the GCCI and the Indo-Canadian Chamber.
A mechanical engineer, Thomas reveals that quizzing is a passion. The Tangentia Jigyasa business quiz is a major quizzing event that completed its third edition on Sunday. “The event now is firmly entrenched in the quiz calendar of India and well known among the quizzer community. It is a national event as it draws the top 15-20 teams of the country,” he says.
Tangentia in an expansion mode
The company office is currently being renovated to include a smart front office, a meeting room, a board room and the rest of paraphernalia of an upcoming business entity. “As we seek larger accounts our clients are curious to see our headquarters,” said a company official. A boutique technology solution company, Tangentia has all the global certifications needed for international clients. The company’s products include automation, digital technology, cyber security, cloud and bespoke solutions. The clientele is mixed and includes 11 Fortune 500 companies as well as medium and small clients.