Bangalore, October 14, 2003 -- Four Soft which today raised Rs 8 crore — Rs 7 crore from UTI and Rs 1 crore from Andhra Pradesh Industrial Development Corporation (APIDC) — is trying to prove a point that small sized companies can still compete in global software products. Product companies are few and far between in the software service-centric India. The company went for fund infusion to increase its equity base before the planned Rs 20 crore IPO in December. The current equity base is Rs 12 crore.
Four Soft claims to have 10 clients across the US and Far East markets for its two software products. Four Soft eSupply SP (service provider) and eSupply EP (enterprise provider) are the two web-centric enterprise software products developed by the company to help customers manage their transportation and logistics activities from different locations, on a single, integrated manner.
Mr Palem Srikanth Reddy, managing director, Four Soft said global competitors like EXE and Manhattan Associates do not have complete solutions to address both operating and financial information needs in logistics and supply chain management. Mr Reddy said that product development is a high risk business but rewards amply as profits range between 60 -70%. For the first half of current fiscal, Four Soft made Rs 4.16 crore in net profit on a revenue of Rs 7 crore.
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