Ray Business enters education tech sector with QuickEdmin buy1 min read . Updated: 04 Jul 2016, 07:44 PM IST
The deal will improve Ray Business's competency in the education technology sector, boost its presence in the US and Australia, and help the company enter India
Hyderabad: Information technology (IT) services provider Ray Business Technologies Pvt. Ltd has bought QuickEdmin from software development firm LastMile IT Systems Pvt. Ltd for an undisclosed sum.
QuickEdmin is a cloud-based enterprise resource planning (ERP) tool which allows educational institutions to manage all back-office operations seamlessly.
The deal will improve Ray Business’s competency in the education technology sector, boost its presence in the US and Australia, and help the company enter India.
Ajay Ray, managing director of Ray Business, did not disclose the terms of the deal, except that it was funded by the company’s cash reserves.
This is the company’s maiden acquisition in the ed-tech sector, giving it a chance to do business with 100 schools and colleges in the US and Australia. The Hyderabad-based company currently services 15 clients in the education sector in US and Australia currently.
QuickEdmin can be deployed in 3-4 weeks at 30% lower costs compared to custom solutions, which require 36 weeks, the company said in a statement.
It supports end-to-end processes for 23 modules including admissions, library, examinations, campus news, hostel, transport, events, attendance, learning dashboards, human resources, payroll, and faculty management, covering 90% of ERP requirements of educational institutions.
“We are trying to bring in more business expertise and domain specific focus on our technology offerings," Ajay Ray said in a phone interview. “This makes the product universally deployable in India and other mature markets including USA, Australia and Canada, through minor customizations," he added.