The Company operates in areas of IT & ITES like customized
development and solutions, implementation, support, maintenance, training and staffing in
the following segments of software services.
ERP:
Enterprise resource planning (ERP) is business process management
software that provides seamless communication and real-time data for businesses, and is an
extremely helpful tool that centralizes all islands of information and streamlines it to
multiple departments in an enterprise.
The marketplace for ERP tools and software is consistently growing. The
growing demand for ERP Software has provided a major boost to the Global ERP Software
Markets.More people are shifting their preferences to this growing sector. The market is
expected to keep rising at a high CAGR and reach values of high millions by the end of the
forecast period.
The market development is going to be suffering from all previously
mentioned patterns, a couple of elements being conspicuous than the others. this may be
joined by numerous little changes. In any case, as of now, cloud-based systems are
considered a less costly choice to on-premise solutions, and various small players appear
to be guaranteed the safety of data on the cloud. With the headway of innovations, the
simpler execution of various ERP applications will emerge as a more developed solution.
SAP:
Your company is a Partner of SAP, the market share leader in ERP. SAP
has evolved to become a market leader in end-to-end enterprise application software,
database, analytics, intelligent technologies, and experience management. A top cloud
company with 200 million users worldwide, SAP helps businesses of all sizes and in all
industries to operate profitably, adapt continuously, and achieve their purpose. Your
company promoted SAP Business One which is an ERP for Small to Medium Size Enterprises.
BizERP for Manufacturing Sector
Your company has developed a cloud based ERP Solution for manufacturing
& trading industries. It comprises of all the modules that is required for any
business to operate. It has been deployed in many industries like Steel, Fabrication,
FMCG, Industrial Products, Leather etc. This is developed using the dot net platform which
is highly secured. The company is continuously making enhancements to this product so that
it can be reached out to various other companies.
ERP for Education Sector:
Your Company has developed a customized ERP package catered to reputed
Universities, Colleges and Schools in India. It is a web based campus automation system
having various modules required for the functioning of any university. In addition to the
existing customers your Company has further extended this solution to few more Colleges
and Schools in India and look forward to add many more in the near future.
HRMS & Payroll Solutions:
It is web based solution to manage Payroll, Leave module, Reimbursement
module, Staff Loan module, Income Tax module along with many statutory and MIS reports.
Your Company has recently launched this solution and it has been deployed successfully in
many big corporate and educational institutes.
Your company has also collaborated with SPINE Technologies who is
pioneer in the HRMS & Payroll Solution. It offers all the modules on SaaS model. It is
a very robust product and we are representing them as their Channel Partner for Eastern
India.
Digital Marketing:
The company offers Digital Marketing services to many clients in India
as well as overseas. There is a huge demand for these services in the entire world. The
company offers Search Engine Optimisation, Social Media Optimisation and Google Adwords
services to its clients. There is a huge growth of business in this area.
Mobile Applications:
India adds the highest number of internet users per year, vs. any other
country in the world. More importantly, over 60% of consumers access the internet via
their smart phones.
Big business firms look for a product that helps them to tap in among
the target audience, to help them compete with other business and stay ahead of them. Our
skilled, proficient and experience mobile application team will help to plan, design,
develop and deliver a customized application to suit customers business needs.
At Lee & Nee Softwares (Exports) Ltd, we have expertise in
developing mobile applications for different platform and Mobile devices such as Android
Application Development, iPhone Mobile Apps Development and Hybrid Mobile Development.
The Company has successfully implemented and deployed various mobile
applications on Android and IOS platform. It looks forward to expand its business further
in coming years.
IT staffing and Training Services:
Your Company has ventured into IT staffing and training services in the
last few years. It is trying to expand itself as a staffing company in various big IT
companies working in the area of SAP & Oracle Applications.
IoT and other Segments:
Your company is also planning to venture into new and emerging
technologies like IoT, Robotics and Artificial Intelligence
Risk & Concerns
CYBER SECURITY RISK -Cyber Security and quality management are few
key areas of concern in todays information age.
To overcome such concerns in todays global IT scenario, an increasing
number of IT-BPO companies in India have gradually started to emphasize on quality to
accept global standards such as ISO 9001 (for quality management) and ISO 27000 (for
information security). Today, centers based in India account for the largest number of
quality certifications achieved by any single country.
CONCENTRATION RISK -Regional concentration as well as vertical
concentration can adversely impact Companys business in case of a slowdown
The company has diversified its business, both in terms of region and
verticals, is intrinsically woven into the DNA of Lee & Nee Softwares
(Exports) Ltd.
CURRENCY RISK The Company has made a well defined currency
hedging Policy which helps in controlling risk arisen from currency fluctuations and
volatility.
COMPETITION RISKThe ever-increasing competition poses a key risk in
terms of acquiring client business as well as human talent.
Lee & Nee Softwares (Exports) Ltd. has enhanced its value in the
proposition of its customers by way of deepening its domain expertise, technological
capabilities and customer engagement. On the human capital front, Lee & Nee Softwares
(Exports) Ltd. brand equity and best in class HR principles and practices has made it a
preferred employer.
REGULATORY RISK- Legislation in various countries in which we
operate including the US, Canada, UK, Australia & Middle East may place restrictions
on companies in those countries from outsourcing work to us, or may enact stricter
immigration laws or may limit our ability to send our employees to certain client sites.
A team of professionals has been employed within and outside the
Company. The Company has working on mitigating this on a continuous basis.
Threats
The Indian IT-ITES industry is facing several threats that need to be
addressed.
The Indian IT-ITES industry, owing to the uncertain global economic and
geopolitical climate is continuing to face challenges.
High attrition rates in the IT-BPO segment is a major concern for
companies. With attrition rates ranging between 25-40 percent, attrition is a big
challenge. Apart from a loss of skill sets, the cost of recruitment and training represent
an additional expenditure for Indian IT-BPO firms.
Shortage of quality and employable talent and rising costs in the major
IT hubs are also challenges that need to be addressed. The Company has to ensure that it
acquires good talent and retains it in order to constitute its major competitive edge. The
Company maintains excellent work environment and competitive package for this purpose.
These are the days when technology takes no time to become obsolete.
Thus, to be at par with its competitors the company has to ensure that it constantly
updates and upgrades its technology.
The grave challenges facing the Indian IT-BPO industry include a
slackening of demand from major markets, reduction in larger contracts, stiff work permit
regulations in some critical regions and competition from other emerging economies on
trained resources.
Growth:
The year has been marked by pandemic-related sharp declines in growth
across industries. One major exception is Indias IT-ITeS sector. It was expected to grow
by 15.5% to $227 billion in the 2021-22 financial year.Indian IT sector continues to be a
net hirer. A lot of these hires were in jobs that were being created due to the adoption
of newer technologies and not in the traditional jobs.
Segment-wise or Product-wise performance:
In view of the identical geographical location and the same product,
i.e. ITES, there is hardly any need for separate segmental reporting.
Future Economic Outlook:
As per Nasscom, the industry is on track to meet its vision of USD
300-350 billion revenues by 2025.
Global impact of the COVID-19 pandemic has led to major resets or shift
that is acceleration in the pace of digital transformation. Hence, a significantly higher
growth is expected in the coming months.
With the combination of favourable demographics and policy reforms,
India presents a unique and powerful growth story.
Internal Control System and their adequacy:
Lee & Nee Softwares (Exports) Ltd. has deployed adequate Internal
Control Systems (ICS) in place to ensure a smooth functioning of its business. The
processes and the systems are reviewed constantly and changed to address the changing
regulatory and business environment.
The Control Systems provide a reasonable assurance of recording the
transactions of its operations in all material aspects and of providing protection against
misuse or loss of Companys assets.
The ERP system which the Company had implemented has helped in further
strengthening the internal control systems that are in place.
The existing internal control systems and their adequacy are frequently
reviewed and improved upon to meet the changing business environment. The external
auditors as well as the internal auditors periodically review the internal control
systems, policies and procedures for their adequacy, effectiveness and continuous
operation for addressing risk management and mitigation strategies.
Discussion on financial performance with respect to operational
performance:
At the Standalone level the sales of the Company have increased by
11.46%as compared to previous year. The international sales of the company continues to
increase steadily. We have started working with many new international partners from USA,
Canada, Australia and New Zealand. We have also added new partners in the UK Market.
The Company has identified new avenues of software business like
Business Automation Tools and Cloud offerings. Your company has partnered with SPINE
Technologies for offering Cloud based HRMS & Payroll software solutions.It is looking
forward to work in the areas of ERP Solutions, HRMS & Payroll solutions, and Mobile
Apps Development as there is huge potential in these areas and is now focused on further
expanding Enterprise Applications business both in domestic as well as in overseas
market.The Company has further developed niche products for specific industry verticals
and plans to offer them on SaaS model in coming years.Your Company has made strategic
alliances to offer Cloud based solutions and licensed software solutions. The Company
anticipates getting good volume of business in the coming year.
Material Development in Human Resources/Industrial Relation Front,
including No. of people employed:
The total number of permanent employees of the Company as on 31 March,
2022 was 64.
Attracting, enabling and retaining talent has been the cornerstone of
the Human Resource function and the results underscore the important role that human
capital plays in critical strategic activities such as growth.The Companys focus lies in
creating a performance based culture, driven by focused growth and clear career
development plan for each employee. A robust Talent Acquisition system enables the Company
to balance unpredictable business demands.
It is very difficult to source skilled persons. Therefore, the role of
human resource management is critical and strategic to build up human capital to create
organizational competitive advantages. Todays customers are highly quality conscious and
look towards value for the money. Quality is customer satisfaction built through employee
participation.
Company has created the blue print for the strategic attraction of
talent, and it has acted upon retention of talent by continuous training program.
The companys human resource practice has helped in motivating
employees and enhancing their commitment and greater evolvement in the overall quality
improvement.
Your company treats its "human resources" as one of its most
important assets and believes that its middle management is particularly critical to its
business, as they are responsible for managing teams, understanding its client
expectations and its contractual obligations to clients, ensuring consistent and quality
service delivery and deploying the companys process excellence framework. The company
continuously invests in its HR to create a favorable work environment that encourages
innovation which enables it to retain skilled and a highly professional workforce.
Your Company thrust is on the promotion of talent internally through
job rotation and job enlargement. Our hiring requirements have decreased by3.13% this year
due to the COVID 19 pandemic. We expect to improve our people intake during 2022 and are
exploring new avenues to decrease hiring turnaround times but due to the COVID 19
pandemic, the regular addition to our human resources seems little uncertain.
+91-9892691696
