BANGALORE, INDIA: According to a IDC report, the Swedish company QlikTech has been named as the world's fastest growing Business Intelligence (BI) software company. The company has now set up a liaison office in Bangalore to expand its base in the South Asia.

Talking to CIOL, Peter McQuade, VP International Markets for QlikTech says, "The company has been named as the fastest growing BI company for the third successive time by IDC. We have been achieving this distinction from 2005 to 2007 and I am sure this year also we will figure in the list." 

The analysis and reporting major's QlikView is an award-winning business analysis solution, has gained significant customer adoption in India to date, with close to 140 customers – among them are Reliance Life, Reliance Capital, Fullerton India Credit, LG Electronics, Dainik Jagran, Mid-Day, Tata-AIG General, Parley, Seagrams - and three partners, namely Team Computers, Sonata Software, IRT, Computer Solutions & Blue-chip Solutions."

"QlikView is perfectly positioned for the India market as a solution that can be deployed quickly and cost - effectively; giving people the fast and accurate answers," says McQuade.

The company has also appointed Raghunathan Rangarajan, as its regional manager for India and South Asia with the responsibility to develop new relationships with customers and partners and to provide comprehensive support in the region.

The Bangalore center has presently has two employees and will grow to 10 in one year. "We are also seriously considering setting up a R&D center and also a Customer Support Centre in Bangalore latest by 2015," says McQuade.

The company hopes to double its business in India by next fiscal and has already about 140 customers and is adding 10-12 new customers every month. In fact, on the global front, the company has about 8,485 customers in 86 countries. QlikTech has about 381,000 live users and are hoping to touch 1 million shortly.

The company recorded a turnover of $80 million last fiscal and is expecting it to grow to to $130 million this fiscal, a jump of 80 percent.

The market in India is huge and growing by big volumes on an annul basis. Companies like Oracle, SAP have the technology that simplifies BI but don't provide small business analysis unlike us. In fact, we have now moved from the mid market to corporate segment. "Another major reason customers are coming to us is because they are not happy with the results from others," adds McQuade.

QlikTech claims that their software is easy to install and fletches good quick returns to customers. The company provides BI from 5-10 user pacts to even 2000. Regarding costs, Rangarajan said our costs are $15,000 for a 5-10 user pact and the trail pact is available on the Net for free.