Hexaware Technologies has signed a contract resulting in $10-$15 million revenues annually with an existing Client in the United States. Under this deal, the company will be offering IT services to support the Client's Banking and Investment Management business. In addition to its traditional offerings in Application Development and Support, Hexaware will also offer Remote Infrastructure Management Services (Remote IMS) to this Client.
As a part of the core strategy; Hexaware deployed dedicated client partners and an engagement director at its key accounts. In addition, the vertical structure has enabled greater cross-sell of all major horizontal service lines in to such accounts. Having executed this deal, the Company expects to generate revenues worth $10-$15 million annually from 2011 onwards from this BFSI Client which was just a one-million dollar Client for Hexaware in 2009.
"While we have already demonstrated our leadership position in the Asset Management micro-vertical, we have now proven our strong capabilities in our horizontal service lines to this customer. We are further providing value to the customer by offering all these services utilizing our major Global Delivery Centers in the US, Mexico and two centers in Chennai & Mumbai", said P. R. Chandrasekar, CEO and VC, Hexaware Technologies Limited.
Hexaware had been selected as a Vendor of Choice for its core domain strength in the Capital Markets Space (micro-vertical in Banking, Financial Services and Insurance (BFSI) Vertical) and has since grown leveraging its solid technological capabilities in the Enterprise Solutions Space and tapping its intellectual assets of tools, methodologies and solutions in the Asset Management domain.
