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Dhiraj Rajaram, got featured in Economic Times recently as the CEO- founder of India’s first billion dollar valuation analytics startup.
This year, the company which employs 2,500 people across a development centre in Bangalore and offices in the US, UK and Australia, will build a data analytics lab in the US and hire 400 data scientists there.
I first met Dhiraj in 2008 Q1 for a job. We didnt agree partly because I needed to be close to my son ( who was 4 mth old) and I ended up taking a contract with another Bangalore based company. What impressed me at that time was something I rarely see in India’s analytics entrepreneurs-
1) A Grand Vision- Dhiraj said- I am trying to build the largest math factory on the world.
2) Focus- Dhiraj was focused only on analytics projects. No quick and easy outsourcing low end tasks and outsourcing for him.
3) Positivity- Not once during the entire two hour interaction did he say a negative word on competition, attrition, challenges, pressures.
4) Flamboyance- I wonder sometimes why a colorful culture like India’s end up with people being so meek in corporate culture. Dhiraj was probably one of the most flamboyant senior analytics leaders.
But there were some concerns I had in 2008 q1- including plans for IPO ( I thought that was early) and senior management flux ( the COO left in a few months).
Anyways Dhiraj grew the 200 strong team to around 900 by 2010 q3. This time again he called me for a job interview. This time we again found that there was nothing I was really good at in analytics company- with my interest in open source, blogging and writing books, and my morbid fear of managing people in operations. However I noticed some changes-
- There were greater signs of process driven orientation ( including messages to keep meetings short)
- There were newer people in senior management
- Dhiraj was slightly more restrained in his frank talk ( given his increasing stature and demands on his time and attention on him)
- I loved the sign on his Office- Jugad. Literally that means ingenuity in Hindi- and shows a glimpse into the maveric, brilliant and flamboyant nature of the CEO.
Again, there were some odd points. Mu Sigma continued to have the perception ( true or false, I dont know) of having a large number of attrition at junior levels. Again there were rumours that Dhiraj had become a bit autocratic in management ( which I found no clue of). I found that the biggest problem that Mu Sigma, Dhiraj had – they were creating enemies just by shaking up the slow IT Services mindset of India- where easy money was available just by low quality labor arbitrage. This cultural opposition to anything new (like a pure analytics company), or anything rapid ( like a company that scales up organically) could have stopped lesser men, but Mu Sigma moved on.
So it was quite nice to read the news, finally an Indian company , had broken the 1 billion mark. Allow me some leeway here. I truly believe analytics and maths have no nationality. But if you see the rampant poverty in India , what we need is more aggressive and impatient businessmen like Mr Rajaram, than the chalta hain _ ” it is okay” attitude.
Dhiraj and team, take a bow. You make us proud!
I was wondering why the planet spends so much money in the $150-billion business process outsourcing industry, especially in voice calls to call centers.
If your iPhone Siri phone can be configured to answer any query, Why can’t it be configured to be a virtual assistant, customer support, marketing outbound or even a super charged call center interactive voice response .
Can we do and run some tests on this?
What is XBRL and how does it work?
With more than 7,000 new U.S. companies facing extensible business reporting language (XBRL) filing mandates in 2011, Oracle has released a free XBRL extension on top of the latest release of Oracle Database.
Oracle’s XBRL extension leverages Oracle Database 11g Release 2 XML to manage the collection, validation, storage, and analysis of XBRL data. It enables organizations to create one or more back-end XBRL repositories based on Oracle Database, providing secure XBRL storage and query-ability with a set of XBRL-specific services.
In addition, the extension integrates easily with Oracle Business Intelligence Suite Enterprise Edition to provide analytics, plus interactive development environments (IDEs) and design tools for creating and editing XBRL taxonomies.
The Other Side of XBRL
“While the XBRL mandate continues to grow, the feedback we keep hearing from the ‘other side’ of XRBL—regulators, academics, financial analysts, and investors—is that they lack sufficient tools and historic data to leverage the full potential of XBRL,” says John O’Rourke, vice president of product marketing, Oracle.
However, O’Rourke says this is quickly changing as XBRL mandates enter their third year—and more and more companies have to comply. While the new extension should be attractive to organizations that produce XBRL filings, O’Rourke expects it will prove particularly valuable to regulators, stock exchanges, universities, and other organizations that need to collect, analyze, and disseminate XBRL-based filings.
Outsourcing, a Bolt-on Solution, or Integrated XBRL Tagging
Until recently, reporting organizations had to choose between expensive third-party outsourcing or manual, in-house tagging with bolt-on solutions— both of which introduce the possibility of error.
In response, Oracle launched Oracle Hyperion Disclosure Management, which provides an XBRL tagging solution that is integrated with the financial close and reporting process for fast and reliable XBRL report submission—without relying on third-party providers. The solution enables organizations to
- Author regulatory filings in Microsoft Office and “hot link” them directly to financial reporting systems so they can be easily updated
- Graphically perform XBRL tagging at several levels—within Microsoft Office, within EPM system reports, or in the data source metadata
- Modify or extend XBRL taxonomies before the mapping process, as well as set up multiple taxonomies
- Create and validate final XBRL instance documents before submission
- XBRL – The Global Standard for Electronic Reporting (newswire.ca)
- Basics of XBRL (cleanclouds.wordpress.com)
- How XBRL improves analysis (businessinsider.com)
If you have a current offshore team in a different country/currency zone then you may find that the significant cost savings from outsourcing have vanished due to currency fluctuations that occur for reasons like earthquakes, war or oil- something which is outside the core competency of your business corporation. As off shoring companies incur cost in local currencies but gain revenue in American Dollars and Euro (mostly), they pass on these fluctuating costs to their customers but rarely pass along discounts on existing contracts. Sometimes the offshoring contract actually gains from currency fluctuations.The Indian rupee has fluctuated from 43.62 Rupees per USD (04-01-2005) to 48.58 (12-31-2008) to the current value of 44.65.This makes for a volatility component of almost 10 percentage points to the revenue and profit margins of an off shoring vendor. Inflation in India has been growing at 8.5 % and the annual increase in salaries has been around 10-15 % for the past few years. Offshoring vendors have been known to cut back on quality in recruitment when costs have risen historically, and the current attrition rate in Indian ITES is almost 17%.
- Tata Consultancy Rises to a Record After Profit Jumps (businessweek.com)
- India’s Outsourcing Revenue Buoyant, Says Nasscom (pcworld.com)
Yup Yankee Doodle. Welcome to India. Ancient Land of Mystique. Modern Land of taking your job.
Let me give you how many jobs we created in India from you.
“Generation of employment
The rapid growth in IT-BPO industry has created large number of jobs for the expanding employablepopulation. The employment provided by the industry increased more than 8 times over FY2000-2009and reached 2.2 million in FY2009.”
Thats stratight from the horses mouth from http://www.nasscom.in/upload/68924/Impact_Study_2010_Exec_Summary.pdf
2.2 million jobs. Assume 50% of jobs catered to US. Thats 1.1 Million . Assume lower productivity by Indians of 10%.
That’s a million jobs, Americano. Thanks for nothing.
Thats 1 million people who went from taking a paycheck and spending it (on Chinese manufactured good) to 1 million welfare checks.
Now I wish we could drink more Coke, buy more Levis, or even more Fighter Aircraft using our 250 $ billion reserves, but we follow China the leader.
6. Foreign trade grew rapidly and trade surplus was reduced to some extent. The total value of imports and exports for the first three quarters of this year was US$ 2,148.7 billion, up by 37.9 percent year-on-year. The value of exports was US$ 1,134.6 billion, up by 34.0 percent, and the value of imports was US$ 1,014.0 billion, up by 42.4 percent. The trade surplus was US$ 120.6 billion, a decline of US$ 14.9 billion over the same period last year.”
Thats a lot of money employing a lot of Chinese, maybe even more than the 1 million American jobs that went to India.
The computers, electronic equipment, and parts industries experienced the largest growth in trade deficits with China, leading with 627,700 (26%) of all jobs displaced between 2001 and 2008. As a result, the hardest hit Congressional districts were located in California and Texas, where remaining jobs in those industries are concentrated, and in North Carolina, which was hard hit by job displacement in a variety of manufacturing industries
NOTE- Thats also a very sensitive area in terms of security cyber et all
Anyways, thats all now. Thanks for the jobs Yankee boys
(written by an Indian who dislikes job losses anywhere)
- India To Obama: Outsourcing Is A Win-Win (informationweek.com)
- India Tries to Counter U.S. Outsourcing Fears (foxnews.com)
- Welcome Obama! India Inc is here to help (ibnlive.in.com)
- I have to protect American jobs: Obama (ibnlive.in.com)
- The Truth About Outsourcing (creditloan.com)
- India to Raise Issue of Outsourcing Curbs With Obama (pcworld.com)
- Philippine Share of Global IT-BPO Market Can Reach $25 Billion, 1.3 Million Jobs by 2016 (eon.businesswire.com)