The verticals it plans to concentrate on include financial services and healthcare. Ramco is evolving into an enterprise applications and solutions provider from being predominantly an ERP company. It has developed Ramco Virtual Works that facilitates development and deployment of software solutions besides providing an e-business architecture. Girish Menon, vice-president (marketing and strategic planning) said that the Gartner group had been roped in to help position Ramco Virtual Works in the market place for the right audience. The consultant's report is expected very shortly. The company expects significant shifts in its revenue streams in the coming years. By 2003, it estimates that projects will bring in half its revenue, products and product licences will contribute 20 per cent each and balance of through other services. Ramco plans to make further inroads into the US and Europe market.

In three years, it expects US to contribute 60 per cent of the revenues, Europe to account for 20 to 25 per cent and Asia the rest. Currently, Indian market accounts for over half of its revenues. The company will shortly put in place a global partnership programme with tier two consultants mainly from the US. It is expected that 15 to 20 consultants will enter into the arrangement. The company will contribute its IT skills and domain expertise, while the consultants will bring in their customer relationships and management expertise into the partnership. IT consulting services is an area the company plans to aggressively tap for business opportunities. In business process consulting the company has significant expertise.

However, in the area of strategic consulting, which it plans to offer, it is open to a tie-up from one of the big five consultants, says Girish. According to company officials, Ramco is also looking to place a portion of its equity with strategic investors, who could also be a source of major orders. The placement is expected to be at a premium to the market price and account for about five per cent of the company's equity. It is also planning acquisitions in the US market. The company is looking at an overseas listing within a two-year time-frame. The company has put in place an employee stock option plan (ESOP). It has distributed five per cent of its equity to key employees. About 250 employees have been covered by the ESOP plan. Ramco Systems plans to post a growth of 70 per cent during this fiscal.

It has set an ambitious target of $250 million (Rs 1125 crore approx) in revenues by the year 2003. The number of employees is expected to grow to 2,300, from the current 1,300 during the same period. For the year ended March 2000, the company posted sales of Rs 116 crore and a net profit of 0.90 crore.