In keeping with the practice we we started last year, we will be publishing our updated labor rates next month. Our clients will be pleased to learn that our pricing will become even more competitive in 2013. This is due in large part to the continued strengthening of the Dollar against the Rupee. When Prospus initially entered India in April 2011, the Dollar was trading around INR 44. But by the end of our first year, the Dollar had soared over 20% to INR 53. The trend continued through 2012, and the Dollar as now holding strong at INR 54. “This increase in the buying power of the Dollar was wholly unexpected coming into India,” commented Ragsdale in his annual report to the Prospus staff.
With the unexpected windfall from the strong Dollar, Prospus spent 2012 investing into several India-based ventures. In early January, we concluded that there was a lack of quality local website development offerings. Under Ragsdale’s direction, the Prospus Network was born. Prospus Network was built on the insights Ragsdale had while living in Almora. He learned that units of traveling sales people were effective at selling goods and services under INR 50,000. “Though we learned a lot about operating in the local market, the model turned out to be less profitable than we had expected,” Ragsdale commented. Ragsdale decommissioned the Prospus Network in August 2012.
In the middle of 2012, Ragsdale took Prospus into 24/7 call center operations with the Prospus 247 endeavor. Prospus hired experienced operations manager Krishan Mohan to head the operation in July 2012. Krishan has since hired and trained a staff of 4 callers and 3 technicians, and created a fully-functional call center operation. Fortunately, since Prospus 247 operates at night, we have been able to utilize the same office space. We will see how Prospus 247 fares in 2013.
Aside from exploring the domestic market, Prospus has experienced a strong demand in website and web app development services. The largest project we completed in 2013 was Philanthropic Golf, a clever auction site connected to charity vouchers. “I can’t believe what Prospus has delivered. It really is incredible, and my investors are impressed,” said PGA Professional and Philanthropic Golf founder Bob Flynt. We have also strengthened our mobile app development presence, releasing our first mobile app in Q1 2012. After just one year, mobile app development now makes up 20% of our total revenues, and we expect that to continue to increase.
We will publish our revised 2013 labor rates on January 1, 2013. If you would like a copy, please send an email to solutions@prospus.com. If you are our current customer, or have already joined our newsletter, you will receive our labor rates through email.
