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Mann-India TechnologiesSeptember 2009

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Understanding Cultures!!

Two friends from India think of a bungee jumping busines in latin america

so they pool their money and buy everything they'll need.

They travel to Mexico and begin to set up on the square.

Once they have enough people to watch.The first guyjumps. He bounces at the end of the cord, but when he comes

back up, the second guy notices that he has a few cuts and scratches.

Unfortunately, the second guy isn't able catch him, he fallsagain, bounces and comes back up again. This time, he is bruised

and bleeding. Again, the second guy misses him. The first guy falls again and bounces back up. This time, he comes back pretty

messed up and is almostunconscious. Luckily, the second guy finally catches him thistime and says, "What happened? Was the cord too long?"

The first guy says, "No, the cord was fine, but what the hell isa pinata?

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About Mann-India

• Mann-India Technologies is a software development and consulting firm established in the year 2000.

• Exclusively focused in the Latin American market with offices in Panama, Dominican Republic and Venezuela.

• Some of our clients include, Banesco, PDVSA, Digitel, Panafoto and many others.

• Products as well as an IT service with presence: Banking, Retail, Oil and Gas, Telecom.

• Recent achievement: Active participation in the Currency conversion demand that Venezuela poses today.

Business CentersDevelopment Centers

New DelhiHyderabad

Dominican RepublicPanama

Venezuela

Cyprus

Puerto Rico

Colombia

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Why Latin America

• First Mover Advantage

• Patience

• If companies were unable to get a quick return, they

left.

• Accelerated growth up the value chain vis a vis a

Developed Market

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Latin America Overview

Disadvantages• This market is a difficult place to do business because of unpredictable nature• Most of these countries have complex regulations and difficult

bureaucracies.• Lack of order or information and enforcing a contract takes a lot of time. And

very often the validity of the contract is in question. • The gestation period to close a sale varies from six months to a year.

Advantages• The fact that we are from India is one of the reason for our success in IT.• They are both changing.• They are both clubbed together as emerging markets• Emerging markets do not always emerge in a linear fashion.• So they both provide the opportunity for growth

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GDP Growth & Economic Activity: Latin America’s current GDP of US$ 2.5 Trillion

is slated to grow at a CAGR of 6% to reach US$ 3.2 Trillion by 2011

The high level of economic activity points to the need for business solutions creating an active IT market

IT Spending & Adoption: Latin America records the highest growth rates

for technology adoption, IT services and outsourcing

IT services spending to grow at an approximate CAGR of ~15% .

Prepared Workforce: Strong on domain skills, but lack on technology

skills. Indian companies with technology savvy

offshore resources would supplement the domain skills of the LATAM resources

Market Characteristics And Drivers Geographical Analysis Of Latin American Countries

Up & Comers: Argentina, Chile,

Colombia and Costa Rica

Challengers: Brazil, Mexico

The Latin American economy is poised for continued growth, fueled by foreign investment and strong commodity prices

Pot

entia

l for

Fut

ure

Gro

wth

Market Maturity

Startups:Dominican Republic,

Panama, Peru, Uruguay, Venezuela

Source: CIA World Fact Book

GDP (in $ BN) and GDP growth rates in LATAM (2007)

Rapid Growth Opportunity In Latin America

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Understanding and Beliefs

• Mann-India has ensured that the opportunity that is represented in these emerging markets are well absorbed.

• Why choose to grab the tiger by the tail and ride the emerging market seesaw? Why not settle for the comfortable predictability of the mature market?

• The roller-coaster ride is a lot more fun that the merry-go-round of a mature market. – In the 1960s, China grew at an average growth rate of 5.2 per cent, India

at 3.4 per cent. – By the 1990s, these growth rates had accelerated to 10.3 per cent for

China and 10 per cent for India.

• In a short term of seven years, Mann-india today has state of the art solutions to offer.

• This differential compound growth rates is the euphoria that can only be felt in emerging markets.

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Our Strategy

Our initial strategy had a two pronged approaches:

Model A:

• We looked for value added, mid -large Channel partners.

• We were aggressive in convincing them that we were not competing with them in the local

market but only ensuring that at the back end they had a large portfolio of service offerings and

products. We had companies increase their band width of products they take to the market.

• The most Companies were North American driven. With an average revenue base of 20 Million

USD, they always wanted to sell/ resell brands- be it Microsoft, SAP and so on. Secondly, this

awe that they had for the North America does not allow them to have too much of innovation

or motivation.

• The speed of penetration was not good enough and it was imperative that we acted quickly.

• The mindset of people had to be changed-Providing a viable alternative to large packaged

commercial applications was a key.

• Providing rapid turnaround times on translation of new marketplace ideas allowed us to prove

our model.

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Our Strategy

Model B:

We tied up with dynamic resources who could work out of the box. They were from the top

positions in their jobs and were able to actively convince customers about the advantages they had

with working with lower costing innovative vendors. And with this we crossed the barrier of being

a foreign company.

• Our technology and application strategy was based on the fact that even though industries such as the

banking, retail were very well developed , yet their IT road map were based on old systems and Legacy

platforms.

• Thus we at Mann-India introduced to this market the need and demand for IT modernization. We

convinced clients that their Cost of operations could be reduced when expense on Information Technology

is reduced.

• Moving away from the ‘One size Fits all’ approach of large transnational software vendors to a people and

business centric approach that allows our customers to harness their latent strengths and experience.

• At the same time, we allow Corporations the POWER to break away from the stranglehold of established

monopolies and restrictions of proprietary legacy platforms and in addition get low cost value added

solutions.

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KEY SUCCESS FACTORS IN LATAM

• Unique Product / Solution offering:

• Enterprise IT Migration – Well-recognized for its speedy, minimum defect and cost effective migration solutions as a result of its tool based approach

• Transaxion (Mobile Banking) – One-of-its kind of product with the potential to access the entire user base in LATAM

• Retail Maestro (Retail ERP) – Flexible, cost effective product, which is about 65% cheaper than competition

• Brand: Established themselves as a credible technology provider over the last 6 years

• Core Sales Team: Team of well connected Latin American Professionals working exclusively for Mann

• Team members have previously held high profile positions like President of CA, VP with CitiBank, Director of PDVSA

• Highly networked management team

• Key strategic partnerships with clients like PDVSA and Sural.

• First Mover Advantage: Mann enjoys first mover advantage over new entrants.

• Registered as an IT vendor with most of the companies in the region (Registration process typically takes 6 – 8 months)

• Advantage over Local Players:

• Fragmented local IT providers in the region, suffering from talent crunch and restrictive labor laws in the region

• Mann enjoys an advantage over competition

• Access to Indian talent pool

• Unique one-of-its kind product and services

• Software Factory Approach:

• Map domain expertise in LATAM with technical competence in India

• Comprehensive six-step implementation methodology and rigorous process model

• Ensures cost-effective / zero-defect delivery

• Dual Shore delivery model:

• The company uses an onshore – offshore delivery model, customized to meet the project requirements

Mann India’s Key Suscess Factors

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Macro-Economic Factors:

• The region enjoys an impressive GDP growth rate in excess of 6%.

• The Governments are extremely favorable towards foreign investment, having received a record US$ 100 BN in

2007.

Situation in LatAm:

• Venezuelan Decree: The Venezuelan Government has issued a decree requiring all public sector companies to

migrate to open source applications by December 2009.

• India Awareness: The companies in the region recognize India as a credible partner for providing technology

solutions.

Implications:

• The IT Services market benefits heavily from the fast economic progress of this region and is slated to grow to

US$50 Bn by 2011. Mann-India, with its innovative suite of solutions, is uniquely positioned to cater to the

technology requirements of this high growth region.

Other Success Factors

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Mann-India has conceptualized innovative sales processes backed by a high profile sales team.

• Eminent Core Team: Mann has created a ‘core’ sales group comprising of high profile senior executives with over 25 years of experience in the LATAM region in companies like Citibank, Microsoft, Computer Associates and PDVSA.

• Strong Relationship Network: The core team enjoys deep relationships with key decision makers across various industries.

• Innovative Sales Methods: Mann has championed innovative sales methods to increase their relationship network, including working lunch sessions with top level executives of companies to introduce Mann and its service offerings.

• Non-Linear Revenue Growth: Mann-India enjoys revenue growth rate which is non-linear to its growth in employees as a result of its innovative suite of products and solutions, enabling the company to achieve lucrative EBITDA margins of over 30%.

oTransaction based revenues – Mann-India derives revenues for each transaction executed using the Transaxion productoIT Modernization tool – The tools enables scaling of operations and larger migration projects without a relative increase in employee baseoMann-India’s Retail solution is also offered in the SaaS model, ensuring a recurring revenue stream.

Core Sales Team

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Operational Model

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To be the largest IT service provider in Latin America.

Vision 2010

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Thank you

So while you are riding the roller-coaster ups and downs of an emerging market, keep the frustrations and excitement in perspective, because change does equal opportunity