The IT company plans to double its revenue by 2020.
While most IT companies are cutting jobs due to automation, slowdown in the IT industry and protectionist markets, the US-based firm, Synecheron, is all set to hire around 1500 employees in the next 12 months. The Company currently has 7500 employees, of which 5000 are in Bengaluru, Hyderabad and Pune.
The Company plans to double its revenue to $ 1 billion by the end of the financial year 2020, which is the reason for this expansion. In the financial year 2017, it generated a revenue of $ 390 million, which is huge considering its size and growth figures over the past years.
Synecheron provides services to the banking, finance and insurance sectors. The Company has benefitted in comparison to its competitors because of its consistent focus on digital technology, artificial intelligence and blockchain technologies. While many organisations are ill-equipped to deal with these disruptions, Synecheron is far ahead in these areas, and therefore, is growing smoothly.
Synecheron’s chief executive, Faisal Husain, said that the Company will hire around 1000 freshers in its Pune centre. The focus is on sourcing these recruits from reputed engineering colleges, and training them further to handle specific areas of operation.
Synecheron is working with several startups and has opened a lab, Finlabs, where it showcases its innovations. Startups receive full support from the Company, which allows them to work from its campus in Pune.
Faisal further adds that the Indian education system needs renovation so that quality talent is groomed to be industry ready and equipped with relevant skill sets.