CALIFORNIA-BASED Savera Systems, a global leader in providing solutions and expertise in the areas of governance risk and compliance (GRC) will be setting up its Indian subsidiary in the coming months. The Indian arm of the company will be called Savera Systems Pvt Ltd.
Savera Systems helps companies worldwide identify, measure, and manage operational and technology-related risks they face within their industries and throughout their systems and processes. The Indian arm will follow and expand the core strengths of the group into the Indian market which is witnessing an economic boom at the moment.
With Accenture, Caterpillar, Exxon Mobile, Sony Pictures, Valeant, Armstrong, Merck, Ericsson and Hydro Quebec among its clientele, the company now plans to take on the Indian market.
Harry Sandhu, president of
Savera Systems told ET in an email that chartered accountants have been engaged to register the company in India. “We will be targeting the IT division in all sectors since our focus will be on building solutions and services in governance risk and compliance,” he says.
The parent company will invest over a period of time $1 million in its setup in India while Mohali is being eyed as the next set up area.
The company plans to open a development centre at later stages while a few engineers will be employed as operations begin. The company also plans to bring in expats from the US and hire from India.
After Virsa Systems, that is now the GRC arm of SAP as it was acquired by the latter last year, Savera would be the second company in the GRC space to begin operations in India and the northern region. Being a SAP systems integrator, in competition with Oracle, the company may also have the same fate as Virsa with either SAP or Oracle acquiring it but Mr Sandhu denies any such happenings in the near future as the company plans to go strong with its Indian expansion plans.