Lorven Technologies is a fast growing company among many other accolades,
providing technology services in
the area of Software Development
and IT Staff Augmentation services across diverse business domains like BFSI, Telecom, Media,
Retail, Manufacturing, Pharmaceuticals, Healthcare & Energy.
“Our key assets are our people.
Our ability to understand client
needs, deliver solutions in a nimble and agile fashion has resulted
in a high retention rate of clients,”
says Bala Shan, President & CEO
of Lorven Technologies. Shan sat
down with Consulting to discuss
the firm’s financial performance
and revenue growth.
Consulting: What were the main
factors that contributed to your
firm’s exceptional growth?
Shah: I’d say there are several:
Focus—This is the source of our
growth. We focus on our strengths
and the goals with continuous ef-
fort in improving our process,
quality and customer satisfaction;
and retention is the key factor for
our growth. Customer demands
are delivered with quality services
with good turnaround time; Plan—
Strategic planning with specific
goals with required infrastructure
and the resources for the execu-
tion of the plan has put us on the
growth fast track; Execution—Ex-
ecution of the planned strategy is
an important factor. We set clear
priorities and ensure the strategies
have been implemented effective-
ly. Change is the only constant fac-
tor, we revise the plans if required;
People—People are the key asset of
our organization. We hire the best
minds, with a drive for achieving
their dreams. We strongly imbibe
the culture of design thinking to all
the associates and thus it kept us
challenging and motivated.
Consulting: How is this year shaping
up for your firm?
Shah: It’s shaping up in terms of
revenue growth by acquiring new
clients; focusing on diversification
of business; and, emerging into digital technologies, IOT, AI and ML.
Consulting: How would you
describe your firm’s outlook for
2019? Where do you see the most
Shah We see a few: Focusing on
latest technologies by expanding IT
solutions; and organization expansion in terms of increase in number
of employees/consultants for the exponential revenue growth.
Consulting: What would you say
are your firm’s biggest challenges
Shah In the recent past, client
budgets have been continuously
squeezed; clients are more budget
conscious due to political and economical uncertainty; and, one of our
biggest challenges is finding and retaining the best talent.
Consulting: What does being named
one of Consulting’s Fastest Growing
Firms mean to your firm, your
employees and your clients?
Shah It strengthens the business
platforms that we have already
built. It’s a great sense of achievement in our organization. It also
brings reassurance on our quality
process among our clients, an expansion in business growth in various domains and better brand image
for the organization.
*REVENUE GROWTH: 40% HQ: PLAINSBORO, NJ