This article published in INFOWIRE traces ValueLabs’ growth story from a startup to a thriving mid-sized global IT services company. INFOWIRE is a quarterly newsletter of The IT and ITES Industry of AP (formerly HYSEA).
The phenomenal growth of the IT industry in Andhra Pradesh is linked to the entrepreneurial spirit and innovations brought to the market by a group of SME's during the late nineties. While major Indian IT companies and MNC's stole the limelight, thanks to significant employment generation and international branding, these SME's developed exceptional competencies quietly and achieved spectacular success and value creation in both the software products add services segment.
It is our endeavor to show case our SME members whom made a niche in the "Hall of Fame" globally and have become great motivators for other start ups to emulate. We have three Companies in this issue - Pramati in the product space and ValueLabs and Value Momentum in the services space. We hope our readers will like this initiative from ITsAP.
Ours is a story about a 3-member team with common set of values that grew into a global organization with 100 clients and ranked among the Top 50 Employers in India. It is also an account of on how we can remain relevant in a highly competitive market while being true to our value system.
We are a global outsourced product development company. We have 9 offices around the world, spanning Australia, Malaysia, India, UAE, UK and the US. We work out of multiple Delivery Centers (including presence outside India), ensuring redundancy as well as business continuity. We are just over 1,800 employees and 100 clients. More than all this, we strive to build strong partnerships and personal bonds with every client and employee.
We founded ValueLabs in 1997 with a clear vision to deliver value to clients worldwide using an effective multi-shore delivery model. We started operations in a tiny apartment as a 3-person team, sharing a dream and a set of similar values. Today we work out of our own development centre in the HITEC city spread over 175,000 square feet – with plans to expand by another 150,000 sft.
Our clients often tell us that our culture is a key differentiator. A core set of values drives each and every one of us. Simplistically put, it ensures that we are looking out for the best interest of every client and employee. It is ingrained in our DNA to understand every client's business, and then go above and beyond our initial mandate. Each client, and for that matter employee, relationship is treated like a marriage – we work through good times and, bad honestly and selflessly – in order to grow client relationships into strategic and symbiotic partnerships.
Every action we take within ValueLabs is with a very long term view, with the objective being to build strategic partnerships with customers and employees. Today around 70% of our revenue comes from customers who have been engaged with us for an average of 7 years. On the other side, the top 50 people in the company have been with us for an average tenure of 9 years.
We treat each person in our organization as an integral part of the ValueLabs family. A fifth of our current facility (an entire floor) is dedicated to employees. A cafeteria (all food is free), a gym with full-time trainers, a library, a prayer room, a Zen garden, food / services kiosks, and a dorm address most of the day-to-day needs of an employee. The common message that gets delivered on a daily basis – “Whatever problem you may have, be it professional or personal, that cannot be solved as an individual will be attempted to be solved as an organization”.
We take pride in not losing a single client on account of poor delivery or relationship issues. Keeping with the two-stakeholder corollary, attrition amongst senior folks (Project Manager and above) is almost negligible.
We try to earn ‘trust’ at two levels with everyone we come into contact with, be it customers or employees. The first, which can be earned in the short-term, is to deliver on what we promise. The second, which takes years to earn, is to be a true partner, to stick with them through difficult times, to continuously strive for their success. We have done very well on this front, leading to long term relationships with both our stakeholders. As long as we continue to be worthy of this trust, we will continue to do well…
Please click here for the full report - http://www.valuelabs.com/newsroom/in-the-news/163