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India's Tally Solutions, a software services company, is investing Dh44 million in setting up a large operation in Dubai, its senior official said. The company, in which Reliance Group's Mukesh Ambani holds a stake, is seeking to generate Dh367 million annual revenue. The company will also launch Arabic-enabled software in the coming months for the Arab businesses. "The software market among the businesses based in Dubai ranges from $125 million to $150 million and we expect to generate at least $100 million," said Bharat Goenka, managing director of Tally Solutions, a company developing solutions for the mass market. "We performed a wide-ranging study of the MEA region that has been acknowledged as one of the fastest growing areas for IT services with a market size of Dh25.60 billion and offers a far greater potential for business software than we have seen in other more established markets. "Our decision was based on sound market analysis and first-hand market knowledge from industry sources. "The potential for software services, including migration, upgrade, enterprise resource planning and enterprise resource management is very high and we see a strong market for our efficient and simple solutions. "Our solutions are so efficient that a user doesn't lose data even if the power connection goes off. These are powered to work even in hostile environments. "During the last month and a half, we have served 4,000 clients with solutions costing between $300 to $350 per solution." The company, which recorded a turnover of $50 million last year, targets $1 billion within the next two and a half years. "The growth will come from our geographical expansion as well as through our ability to offer the best, cost effective and simple solutions to the customers," Goenka said.
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