TCS Targeting $100m revenue by FY19 from their AI platform Ignio
TCS’ artificial intelligence platform Ignio has crossed $60 million in annual revenue and is targeting towards $100million by this FY19. By doubling down on the product strategy it has created for the unit, the company’s top executives said.
Ignio started its operations, five years ago that was closely integrated and sold with the company’s services offerings but two years ago, TCS began to take it down a product path. The company hired a chief marketing officer and an analyst relations head to carve out a product-niche reported by ET.
TCS CEO Rajesh Gopinathan said that FY19 revenue had topped $60 million. Ignio earned $31 million in FY18, TCS had disclosed. The FY19 figures and growth rate imply that TCS should reach its $100 million goal by the end of this year. However TCS aims to make Ignio the fastest software product to reach $100 million in revenue.
In the recent interview by ET, Subramanian, chief operating officer at TCS, told that “It’s a new way of working for us. Traditionally, we have been implementing our products ourselves.” He also said that the product would continue to be embedded in the company’s offerings but that channel partners would help accelerate growth and he continued to say adding the channel partners had been picked in Europe and North America and were specialised players in the business.