Ex-Infosys Balakrishnan on board Kaar as Chairman – Audit Committee & Corporate Governance
- Kaar Technologies to expand to Europe & Western markets
- Announces ESOP for all employees
October 16, 2015: Kaar Technologies, India’s leading pure play SAP consultancy, today announced the joining of Mr. Balakrishnan (ex-CFO Infosys) on board. Mr Balakrishnan will spearhead the audit committee as its Chairman.
“We are pleased to announce and proud to have Mr Balakrishnan on board Kaar Technologies. He brings with him extensive knowledge from his experience in more than two decades of leadership profiles in the financial domain. In this extensive growth phase, I’m sure Mr. Balakrishnan will bring about efficient mentorship and positive disruption into Kaar” said Mr. Maran Nagarajan, Founder and CEO, Kaar Technologies.
Addressing the media on his new role, Mr Balakrishnan, Chairman-Audit Committee said “I am excited to take up this new role with Kaar Technologies. I will be instrumental in ensuring the elevation of the board and will aid in Kaar’s strategic growth towards multiplying the CAGR of the company by FY20”
Kaar Technologies has chartered its expansion to European markets, focussing primarily on Norway, Denmark, Sweden, UK, Finland and the Benelux for the first leg of expansion. The strategy is to choose markets with an affinity to outsourcing and in this regard, will concentrate more on acquiring enterprises operating in SMAC and other related technologies. The CMMi Level 3 Company which records a CAGR of 105% since inception, is also looking to multiply it 5-8 times in FY20, by focussing on business transformation through digital breakthroughs.
“The policy of ‘Go Local’ is implemented which involves recruiting a global workforce in addition to the Indian talent that is added to the workforce regularly. The validation of this policy will see constant recruiting until they achieve a ratio of 80 percent Indian talent and 20 percent global talent. Kaar will also employ local freelancers for sales and consulting in each region that they enter in order to ensure a readiness for implementation at any point of time“, said the Chairman.
Sharing the news on offering ESOP to all employees, Mr Maran, Chairman & CEO, Kaar Technologies said “Besides instilling a sense of responsibility, having co-ownership also makes sure that a company’s successes are tasted across the organization. This is why we’re rolling out 5% of our capital as ESOPs to all our employees. The ultimate strength of Kaar is the people and I feel they should also be a part of the success that they were instrumental in achieving”
About Kaar Technologies:
Kaar Technologies is a global consulting firm focused on digitally transforming customers’ business operations by offering the finest ideas and SAP expertise to empower them in achieving new heights of excellence. Kaar Technologies is the largest and the fastest growing SAP consulting company headquartered in India. It was founded by Mr. Maran Nagarajan in the year 2005 with a vision of building a USD 3 Billion company and becoming the world’s largest pure play SAP service provider by 2025. Under Mr. Maran’s leadership the company has exponentially grown over the years and is currently a USD 50 Million revenue generating company with 600 + dedicated employees present globally in 15 locations.