Plano, TX — April 28, 2003 — e-Sourcing solution provider MindFlow Technologies is looking to go global.
The Plano-based provider said it is expanding its global operating model to increase research and development investments by some 70 percent and to drive greater operational efficiencies. The company also pre-announced a new supplier management system due out in June.
"MindFlow is positioning for profitable growth by leveraging global cost structures," said Jay Reddy, founder and CEO of MindFlow. "With our unique and mature global operating model, our customers will be able to exploit global synergies, talent and cost structures."
MindFlow said its new strategy would position it to offer its global customers increased R&D innovation while lowering the cost to deliver solutions and customizations.
In line with this strategy, key MindFlow executives will take on new or expanded global responsibilities, including Mark Grefer, who now will manage the global business development group in addition to strategic alliances. In addition, Srini Krishnaswamy will lead the provider's combined solutions delivery team, and Satish Joshi will now manage all aspects of product development and will drive MindFlow's offshore efforts.
The provider's move follows a broader trend among companies seeking to take advantage of lower information technology development costs overseas. Analysts with tech consultancy Forrester Research have estimated that up to half-a-million IT and mathematics jobs will migrate from the United States to lower-cost countries by 2015.
Elsewhere at MindFlow, the company said that in June it will release a new supplier management system as part of The MindFlow Sourcing Suite. Scorecard Analyzer will offer collaboration among internal stakeholders (department, facilities and geographic locations) to periodically evaluate suppliers, and it is designed to provide a "big picture" view of the capability and performance of suppliers.
The new solution also will allow supplier approvals based on a global set of key performance indicator (KPI) standards, provide for continuous improvement of suppliers by generating action plans that address areas for improvement and provide trending and benchmarking analysis to gauge the progress of suppliers, according to the provider.
MindFlow most recently updated its flagship sourcing suite in March, upgrading its applications' lane cost analysis features, adding global trade capabilities and expanding the solution's analytics and reporting functionality (see related story.)