InfoBeans

InfoBeans Technologies Limited
Public
Traded as NSE: INFOBEANS
Industry Enterprise software
Founded 2000
Founder Avinash Sethi, Mitesh Bohra, Siddharth Sethi
Headquarters Indore, India
Services computer software
Revenue 18 million USD estimated for 2016-2017
Number of employees
 700
Website www.infobeans.com

InfoBeans is a CMMi level 3 software services company developing business applications for web and mobile.[1]

InfoBeans was incorporated in the year 2000 (fka "InfoBeans Systems India Private Limited" until 2015) having its delivery centers in Indore and in Pune (EON Free Zone). In USA which is its primary market, it operates through its subsidiary InfoBeans, Inc. with its registered office in San Francisco and sales office in Atlanta. In 2015 two more subsidiaries are formed, InfoBeans Technologies Europe GmbH in Eschborn, Germany and InfoBeans Technologies DMCC in Dubai.

Founders

The company is founded[2] [3] by 3 professionals Avinash Sethi (CFO) – Electrical engineer from SGSITS and MBA from IIM Indore; Mitesh Bohra (President) – Electronics engineer from SGSITS and MBA from Haas School of Business & Columbia Business School and Siddharth Sethi (CEO) – Electrical engineer from SGSITS and MBA from IIM Indore.

Public Company

In March 2015, it became a public company under the name InfoBeans Technologies Limited after successfully listing[9] on National Stock Exchange of India. InfoBeans Partnership Program (Employee Stock Options Plan ESOP) was launched in April 2016, options once converted to stocks can be traded on the National Stock Exchange.

Accomplishments

InfoBeans was rated as SEI CMMi level 3 software services company in the year 2012 and 2015.[1]

Standard & Poor's company CRISIL ratings reflect two components - Financial Strength and Performance Capability. It rated [10] InfoBeans “1A” for highest performance capability and high financial strength.

Awards

InfoBeans' focus on providing the best for its team members has resulted in several awards most notably India’s Top 50 Best IT-BPM Companies to Work For–2015 [11] announced by the Great Place to Work Institute; Asia Best Employer Brand Awards under Talent Management category for the year 2011[12] (See page 36) and 2013[13] (see page 17). [14]

The InfoBeans Foundation aims to help underprivileged children by imparting them with basic education. Amity acknowledges its effort.[15]

Facility

InfoBeans' development center at Crystal IT Park in Indore is a role-model and a showcase for government of Madhya Pradesh to potential investors in the state.[16][17]

InfoBeans has also been allotted 10 acres of land at Simhasa IT Park by the government of Madhya Pradesh. It plans to set up its campus in Central India and create direct employment for 1000 professionals of the state.[18]

InfoBeans prefers to recruit engineers from colleges of the city it operates from.[19]

Mentoring/Investment in Startups

InfoBeans promoters have also founded an investment firm called as Seed Enterprises that has invested [20] in companies like Sapience Analytics (fka Innovizetech Software). [21]

It was also an institutional member (from 2012-2015) at Indian Angel Network (IAN)[6] which is India’s largest network of angel investors.

Case Study for MBA Students

Professor Justin Paul included a case study on strategies used by InfoBeans for growing its international business in his International Business textbook for MBA students.[22]

The case study also features in the book “Case Method in Management Education (Vol. II)” by authors Upinder Dhar and Santosh Dhar.[23]

References

  1. 1 2 "CMMI Certificate". SEI. 27 May 2015.
  2. ↑ "The Economic Times Management Info". The Economic Times. 31 Mar 2015.
  3. ↑ "Bhaskar Covers InfoBeans story". Bhaskar. 26 Jan 2014.
  4. ↑ "Mitesh's article on entrepreneurship in Wharton". Wharton. 22 Feb 2013.
  5. ↑ "Avinash as mentor at CIIE". CIIE. 1 Jan 2011.
  6. 1 2 "IAN Membership". Indian Angel Network. 1 Apr 2012.
  7. ↑ "Avinash as Angel Investor". Angel co. 1 Jan 2013.
  8. ↑ "Siddharth's interview Hindustan Times". Hindustan Times. 1 Jan 2013.
  9. ↑ "InfoBeans lists on National Stock Exchange of India". National Stock Exchange of India. 31 Mar 2015.
  10. ↑ "Standard & Poor Rating". CRISIL. 22 Feb 2013.
  11. ↑ "Great Place to Work Award". GPTW. 23 Jul 2015.
  12. ↑ "Asia Best Employer Brand Awards 2011" (PDF). ABEB. 1 Feb 2011.
  13. ↑ "Asia Best Employer Brand Awards 2013" (PDF). ABEB. 1 Feb 2013.
  14. ↑ "DNA news on Asia Best Employer Brand Awards 2013". DNA. 1 Feb 2013.
  15. ↑ "Award for Corporate Social Responsibility by Amity". The Times of India. 1 Feb 2013.
  16. ↑ "InfoBeans office photo in MPAKVN brochure for Crystal IT Park Indore" (PDF). MPAKVN. 26 Jan 2014.
  17. ↑ "InfoBeans first company to start office at Crystal IT Park Indore". MPAKVN. 26 Jan 2014.
  18. ↑ "Land allotment at Simhasa IT Park". Free Press Journal. 26 Jan 2014.
  19. ↑ "Campus Recruitment at CDAC". My Digital. 1 Jan 2013.
  20. ↑ "Seed investment news in VCCircle". VCCIRCLE. 29 Nov 2011.
  21. ↑ "Seed funding Sapience news in DealCurry". DealCurry. 29 Nov 2011.
  22. ↑ "InfoBeans Case Study in book by Professor Justin Paul". PHI. 1 Feb 2008.
  23. ↑ "InfoBeans Case Study in book by Upinder Dhar". Excel Books. 1 Feb 2009.

Further reading

External links

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