Experion Technologies sets up joint venture with Indocosmo in Japan

Hyderabad: Experion Technologies, a product engineering services company, has entered a joint venture with Indocosmo Systems to create Experion-Indocosmo Technologies KK, a subsidiary of Experion Technologies, to expand its reach to the promising shores of Japan. Japan is currently the fourth largest IT market in the world, and revenue from its software market is projected to reach $23.95 billion in 2023. The largest segment is Enterprise Software, with a projected market volume of $9.88 billion in 2023.

“We have chosen Japan for our next strategic expansion with great anticipation and enthusiasm. Japan's rich culture of innovation, renowned for its attention to detail and precision, resonates deeply with our commitment to excellence in product engineering. The cultural synergy between our nations creates a strong foundation for collaboration and mutual success. With the strategic partnership with Indocosmo, we plan to bring Experion’s advanced tech capabilities, product engineering process competence, and learnings gained from other markets, such as the US, UK, Europe, and Australia, to this new shore of opportunity. This collaboration allows us to leverage Indocosmo’s deep understanding of the cultural landscape, language, and customer relationships, which will be instrumental in navigating the intricacies of the Japan market.” said Binu Jacob, Managing Director and CEO, Experion Technologies.

Indocosmo is a 20-year-old IT services company established in Tokyo, Japan. The company has extensive experience providing IT consulting and development with a predominantly onsite team. The company has catered to the SME segment for the past two decades, building strong relationships and business ties with Japanese clients. Experion’s expertise in product engineering, specifically their domain-specific capabilities in automotive, manufacturing, retail, transport and logistics, BFSI and healthcare- will elevate this invaluable foundation to offering services to Tier 1 companies. The long-standing relationships Indocosmo has in the Japanese market are set to be a sure pedestal from which this partnership will rise.

“We are thrilled about this transformative joint venture and the boundless possibilities it unlocks for our operations in Japan! Indocosmo's extensive market knowledge and Experion's unmatched experience and maturity in product engineering and digital transformation for a global clientele prime us to revolutionise the digital landscape. Experion's technical skills, honed through delivering successful projects worldwide, give us a remarkable advantage in meeting the unique needs of customers in Japan,” said Davis Sebastian, Managing Director and CEO, Experion Indocosmo, Japan.

According to a report by the EU-Japan Centre for Industrial Cooperation, Digital Transformation implementation and the adoption of advanced technologies are expected to contribute to addressing challenges in Japan’s private and public sectors - the aging workforce and comparatively low productivity, while also revitalizing the country’s economy through entrepreneurial innovation.

Japan faces a critical challenge, the ‘Digital Cliff,’ as highlighted by the Ministry of Economy, Trade and Industry (METI) in 2018. With a projected shortage of 4,30,000 IT professionals and over 60 per cent of core IT systems operating for more than two decades, Japan risks a 12 trillion-yen annual economic loss by 2030. The COVID-19 pandemic has further exposed Japan's digital delay and the need for rapid transformation.

Ranked #28 in the 2021 IMD Digital Competitiveness metric, Japan must embrace digitalisation to maintain its position as a top-three global economy. However, Japan's digital competitiveness index has stagnated for five years while neighbouring Asian nations surge ahead. Although Japanese companies are accelerating digitization efforts, they still lag two years behind global peers.

The Government of Japan has prioritised digital transformation to secure its economic future. Some of the most notable ones include inaugurating the Digital Agency in September 2021, policies published over the past five years to encourage the shift toward ‘Society 5.0’, which draws a society that leverages technologies such as AI, the cloud and the IoT to support the convergence of the cyber and physical spaces, priorities in smart cities, disaster prevention and data platform and policy measures for the realization of digital transformation including investments in disruptive R&D programs, the creation of digital talents and appropriate IT infrastructures, the development of the startup ecosystem, as well as the provision of support and guidelines to encourage the private sector to adopt cutting edge technologies. In parallel, measures to materialize the digitalization of government services are implemented to evolve toward strong e-government.

“Surveys by some of the world’s top software firms show that a lack of partnership with digital players is one of the main reasons Japan lags in digital transformation adoption. They have observed weaknesses in the ability of organizations to collaborate and create partnerships with digital players to set up an effective digital ecosystem. This is also true for large organizations, which already benefit from a wide network but struggle to find the best and most suitable partners. This is where Experion Indocosmo will step in and make a real difference,” added Jacob.

In Japan, there is a strong emphasis on high standards and a commitment to delivering top-quality work. By joining forces with Indocosmo, Experion is poised to exceed these expectations and bring the best-in-class digital transformation solutions to Japanese enterprises. The Experion team is geared up to take on this exciting new phase of their growth journey, with employees undergoing cultural and language training to move onsite for the projects in the pipeline.

Experion Technologies, founded in 2006, is a Global Product Engineering Services company offering enterprises future-ready and transformative digital solutions. The organisation's product engineering maestros work out of three development centers in India – Trivandrum, Kochi, and Bangalore, and 11 global offices across Asia, Europe, Australia, and North America.

Experion has been recognised multiple times by Frost and Sullivan, Clutch, Inc. 5000, and Everest Group for core expertise in Digital and Software Product Engineering services. Experion brings expertise in the latest technology while crafting exceptional product experiences, utilizing Data and AI, Cognitive Computing, DevSecOps, and Experience Design capabilities across domains. The organization drives new revenue streams, digitizes business processes, and helps improve operational efficiency and productivity in the Healthcare, Retail, Transport and Logistics, BFSI, Construction and Engineering, and EdTech sectors.

As a partner to 500 above global customers across 37 countries, Experion’s team of 1,500 over product engineering maestros is focused on creating meaningful value, innovation, and shared success through digitally driven programs for its customers, partners, and society. Experion is ISO 27001:2013 and QMS (9001: 2015) certified and is committed to international data protection standards, compliant with SOC 2 Type II. The organization has also been certified as a Great Place to Work for two consecutive years.