Iris Insider October 2023Investing for growth despite economic slowdown.
In this issue:
• Note from Iris co-founders
• New facilities in Canada and India• Perspectives on ML Ops, distributed ledger technologies
• Recognition from Great Place to Work and more
Investing for growth despite economic slowdown.
Iris InsiderOctober 2023
Although Iris Software's revenue grew at an impressive 20% rate in our last fiscal year ended March 31, 2023, we started feeling the impact of the economic and IT industry slowdowns toward the latter part of the year.
While challenging conditions continue, we remain cautiously optimistic as our business continues to hold steady. This is partly due to our recent gain of several large new clients in the banking, financial services, insurance, and life sciences sectors. We just opened two new, state-of-the-art facilities in Canada and India to support these growth areas and became a new offshore partner to a leading education administration programs provider. We also continue to invest in our teams and operations to optimize our lean and agile processes, strengthen knowledge and skills, and keep our attrition rates among the lowest in the IT industry.
Iris is committed to delivering the highest quality service and outstanding experiences to its clients. This has resulted in us achieving high customer satisfaction scores and employer workplace awards over the last few years. Please read on about our latest developments and technology insights, and don't hesitate to contact us if we can be of assistance.Best regards,Anil Apte | Sanjiv Khanna | Sunil PuriCo-founders, Iris Software
Trusted technology partner with30+ years of expertise
4,300associates across India, USA and Canada
High Customer Satisfaction Score 6.5+ out of 7
Strategic locations to enhance client delivery
Iris Software recently opened new operating facilities in Toronto, Canada, and Gurugram in India’s Haryana state, reflecting its continuing expansion in key markets across the globe. The two new premises – an office suite in Canada and a development center in India – are long-term investments that will deepen our commitment to ensure superlative experiences for both our clients and our employees. Spacious and ultra-modern, the new Toronto office is a sizable expansion over our former premises, and is also located in the heart of the city’s financial district. The company has over the past decade deepened its presence in Canada, where it now has 500 employees. The new location houses central departments, while associates and project consultants mostly work offsite or remotely.
Surrounded by other large MNCs in the IT space, the new development center in Gurugram, Haryana, is an addition to existing Iris centers in Noida, Uttar Pradesh.
Besides being a significant step towards growth, the expansion will help Iris connect with top talent in Gurugram, looking for a thriving work culture to belong, perform, and grow. It will also help serve the clients better by catering to their evolving business needs.
"Iris Software is always motivated to make long-term investments in our key markets. Collaboration with clients is a core value at Iris, and this will enhance our ability to continuously provide outstanding experiences to clients and employees alike.” - Sunil Puri, President and Co-founder
Guides to overcoming challenges in automating business processes
The promise of AI and ML to deliver significant competitive advantages and contribute to the growth of the organization is now well established. Enterprises, big and small, are adopting these to drive their strategic business goals and turning to cloud as a way to scale their efforts. However, moving ML workloads to cloud presents challenges; operational and support requirements increase rapidly, necessitating fresh approaches.
Successfully adopting ML solutions at scale would require the use of public cloud technologies, simplification through the use of templates and automation, and other steps to ensure overall agility and cost-effectiveness. This new Perspective Paper from Iris addresses the key challenges, learnings, and best practices on that journey.
DLT has evolved and matured over the last few years. While it came about with cryptocurrencies, its application in alternative use cases can benefit enterprises and potentially revolutionize industries.
With DLT’s shared platforms to maintain a single version of truth and strong cryptography to deliver tamper-proof data and transparency, its adoption is on the rise. This Perspective Paper discusses key challenges in embracing DLT across multilateral solutions.
Read Iris Client Success Stories here.
Innovative, agile, and employee-centric culture at the core
For the third consecutive year, Iris Software was named among the leading companies that provide an employee-friendly workplace, winning awards in both the U.S. and India. In India, we ranked as one of the ‘Best Companies to Work For,’ most recently at #35 (top 2%) in the country, and in the U.S., we were rated a ‘Top Workplace in NJ,’
In addition, for the third consecutive year, Iris managers have been honored for their exceptional people management skills. We are pleased to note that three made their way to India’s Top 100 Great People Managers List in 2023. After a rigorous assessment, three senior delivery leaders were lauded for excellently motivating high-performing teams. Iris managers also were named to this distinguished list in 2022 and 2021.
Iris continues to boast one of the lowest attrition rates in the IT services industry. Clearly, our dual maxim of ‘client-first, employee-first and a commitment to an innovative and agile ecosystem has ensured that we are consistently a top destination for IT talent.
"Being recognized with these awards for the third year in a row bolsters our vision to build a positive work culture where people successfully learn, perform, and grow. Thanks to all Irisians for their continued commitment to our clients’ mission-critical projects.”- Anil Apte, Managing Director and Co-founder
Read the highlights of our journey here.
About Iris Software:
Iris Software is a trusted software engineering partner to Fortune 500 companies for over three decades. We help clients realize the full potential of technology-enabled transformation by combining a unique blend of domain knowledge, best-of-breed technologies, and experience executing essential and critical application development engagements.
Our highly-experienced teams develop core, complex, and mission-critical applications and build solutions for leading enterprises across Capital Markets/Front office operations, Banking, Investment Management, Brokerage, Risk and Compliance, Insurance, Healthcare/Life Sciences, and Supply Chains/Logistics.
