Tata eyes $1bn from iON services

software services firm Tata Consultancy Services (TCS), which unveiled its pay-per-use, cloud-based offering iON for SMEs in February, is targeting revenue of $1 billion in five years from this segment, according to Livemint.com.

The company has so far rolled out the service for the domestic market and already has some 240 customers. TCS expects 1 000 customers in a year, Venguswamy Ramaswamy, global head of iON, said at a press briefing on Friday.

iON provides on-demand business solutions using cloud computing technology and was unveiled in the national capital region on Friday, reports The Economic Times.

“This is a segment where no one else has focused on. iON will provide SMEs access to world-class, simple-to-use and scalable technology tools,” said Ramaswamy.

Ramaswamy adds: “Our endeavour has been to ensure the SMEs can grow smarter and faster by having latest technology solutions along with the advantage of a pay-per-use business model that frees up capital to re-invest in their core business.

“About 60% of SMEs in India still do not have an ICT infrastructure in place. The SME sector in India has a huge potential,” The Hindu writes.