ISELIN, N.J., August 5, 2011 – When a problem arises with a business' ICT system, it needs to be detected and fixed as quickly as possible to minimise downtime. Modern technology, and its intricate invisible mechanisms, can make this difficult. Singaporean ICT company, eG Innovations, offers a range of patented enterprise software that monitors application performance. Designed for companies with multiple users working with a range of software, and for whom performance is mission critical, its products detect which application is causing an issue and raise an early alert. The appropriate staff can then get on and fix the problem, avoiding undue delays.
Since it was set up in 2001, eG Innovations has provided thisbehind-the-scenes help to clientssuch as the US Department of State and the Depository Trust and Clearing Corporation, which works with the New York Stock Exchange. It has also kept insurance firms and global banks, including JP Morgan Chase and Citibank, as well as telecommunications giant Samsung, running smoothly. Its expertise was recognised in 2007 when it won the MS Terminal Services.org Readers Choice Award for eG Citrix Monitor, and a year later it landed VMworld´s Best-In-Class Gold Honours award for eG VM Monitor. Whilst proud of these awards, the company's popularity is hardly surprising considering it has partner arrangements in 25 countries, and users in more than 30.
"To use a medical analogy, our products and services are like general physicians,in that they diagnose a problem and refer it to the appropriate specialist," says Anand Sampath, Chief Financial Officer of eG Innovations. "Lots of companies claim that their enterprise software properly monitors physical and virtual problems. The awards we have won prove to customers that what we're doing is real. But we know we still have to work hard, and we continue to develop and improve our products."
Spot on support
In 2001, Temasek Capital, the direct investment arm of Temasek Holdings, one of Singapore's Sovereign Wealth Funds, invested in eG Innovations. At the time it was a small R&D facility in India, but then Temasek brought the company to Singapore.
Given the global potential of its products, the company quickly outgrew Asia's ICT marketplace. A US subsidiary was set up later that year and this currently accounts for 60 per cent of eG Innovation's global revenue, with a stable presence on both coasts.
There was no doubt that Europe was the company's next major target. London, being home to the world's highest concentration of financial services companies, put the UK ahead of possible expansions to the likes of Germany, France and Ireland. Proactive assistance from UK Trade & Investment (UKTI) in Singapore put the issue beyond any doubt. Entering the UK in 2007, as the global economic downturn loomed, UKTI proved to be a great support to eG Innovations.
"There is a huge potential market for our products in the UK," says Anand. "It is home to the top insurance and technology companies, and all the leading banks have a presence there. UKTI has been incredibly supportive. The first time we contacted them, we were told that the Head of UKTI Singapore would call back within ten minutes, and he did. He talked us through the entire process of entering the UK market. At our first meeting, it was clear that he had fully researched our company, making a strong first impression which has only been re-enforced over time. Everything we were told about the UK business community confirmed our belief that it was made up of quality people, and that the eco-system was ideal for new investment."
Up and running
UKTI assisted eG Innovations so well that it was already introducing its services to customers in London by June 2007, and had set up its UK operations by October that year. UKTI introduced the company to London & Partners (formerly Think London), who gave support on the ground with finding premises, auditors, lawyers and recruitment consultants. When the recession delayed the full expansion, UKTI was still in touch, with reassurances and offers of support. eG Innovations’ patience has paid off, with its new London headquarters finally opening in Baker Street, in June 2011.
"Without UKTI, we would have found it nearly impossible to achieve our goals," says Anand. "I was totally new to the UK market. All I knew beyond London’s reputation for finance, was its cricket and soccer. In our experience, London is a very easy place to do business. High-end service professionals and recruiters are all accessible, along with people who have the ability to sell enterprise software. UKTI opened doors we could not have done alone. They worked their magic and we found good people, willing to help. We had to bide our time to weather the unexpected recession, but thanks to UKTI, we have no regrets about our UK expansion. Growth from London is double any of our operations elsewhere and it is not only our launchpad to Europe, but our access point to Africa and the Middle East too."
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