Breaking conventional paradigms: In conversation with Rajesh Hukku

Abstract

The success of the Indian IT sector notwithstanding, it is widely believed that Indian companies need to focus on software products apart from services to move up the value chain. i-flex solutions limited is a trailblazer in this regard. On March 1st 2006, FLEXCUBE®, its flagship core banking solution, was ranked world’s number one for the fourth successive year (2002, 2003, 2004, 2005) by International Banking Systems, the leading banking journal. Reveleus™ the company’s business intelligence and data analytics product that helps global financial institutions meet the new compliance norms, has been rated as a leading product by the IT research and advisory firm Gartner Group for both ‘completeness of vision’ and ‘ability to execute’, ahead of global majors such as IBM and SAP. Recognising its potential, Oracle, the $14 billion applications software giant acquired a strategic stake in i-flex in August 2005. To understand the genesis of i-flex’s successful journey into becoming a global leader, J Ramachandran and Pranav Garg spoke to Rajesh Hukku, the Chairman and Managing Director of i-flex. Rajesh Hukku believes that the company’s three guiding principles – domain expertise and specialisation; thinking and acting global; and customer focus – that it has religiously adhered to since its inception have enabled it to become a global leader. He shares his experience in founding and growing a company, establishing a culture of democracy and passion, and managing a global organisation. He discusses the rationale for i-flex’s unique business model that straddles products and services as also the company’s transformation from a software product company into an IT solutions provider. Finally, he shares his views on what lies ahead for the company following Oracle’s acquisition of a strategic stake.