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Company : Octaware Technologies Private Limited 
Thursday, May 15, 2014 2:00PM IST (8:30AM GMT)
Octaware Technologies – Appraised by SEI CMMI - Maturity level 3 and Certified NSIC- CRISIL Rating of “SE 2A”
Mumbai, Maharashtra, India

Octaware has demonstrated its leadership in Development commitments and Process Improvements by obtaining Capability Maturity Model Integration (CMMI) Level 3 CMMI-DEV Version 1.3. It has also proven its High Performance Capability & High Financial Strength by achieving NSIC- CRISIL Rating of “SE 2A”

Octaware Technologies Pvt Ltd, has been appraised at CMMI Level 3 of the Carnegie Mellon institute of USA. In Addition to this, our key financial and business performance indicators fetched us the valuable CRISIL Ratings “SE 2A” - High Performance Capability & High Financial Strength, as per NSIC-CRISIL.
CMMI is a process oriented framework that provides organizations with the vital elements of effectual processes that ultimately improve their performance. Adoption of CMMI framework demonstrates Octaware’s consistent efforts to maintain the highest quality standards, successful solution delivery and measurable business benefits to all of their clients.
CRISIL evaluates the degree of capability and stability of the finances generated by the business. The stability of cash flow is dependent on the capability of the business and the quality of the management of the business. Since Octaware has strong capabilities that generate stable finances hence it has achieved CRISIL high ratings.
Acknowledging the recognition, Aslam Khan, President and CEO of Octaware, said, “The industry standard recognition through CMMI Level 3 appraisal reflects our commitment to provide top-notch solutions that are customer oriented, process driven and good quality. The CRISIL High ratings proves our organisation’s high capability and financial stability. We are happy to have achieved both, the appraisal and the rating, and will continue to further improve our quality processes, lower the costs and on time delivery to the customers”    

In this competitive industry, Octaware has strictly upheld and believed that client satisfaction is a top priority. Octaware is now in the process of further refining their initiatives and is making steady progress toward its next quality improvement goal of achieving CMMI Level 5 in near future.
About Octaware:

Octaware Technologies Private Limited is a Software Development, Enterprise Solution and Consulting firm established in 2005. Octaware has its development centres in Mumbai and Pune in India and overseas offices in USA, Singapore, UAE, Qatar, Saudi Arabia and Nigeria. The company has been serving fortune 500 corporate and government organizations with national and global customer base. For more information visit us at www.octaware.com

Facebook- https://www.facebook.com/octaware.says
Twitter- octawaretweets
YouTube- http://www.youtube.com/OctawareTechnologies
About CMMI:

CMMI is the result of more than 20 years of ongoing work at Carnegie Mellon University by members of industry, government, and the Software Engineering Institute. It is a process improvement approach that provides organizations with the essential elements of effective processes that ultimately improve their performance. An appraisal at maturity level 3 indicates the organization is performing at a "defined" level. At this level, processes are well characterized and understood, and are described in standards, procedures, tools, and methods. The organization's set of standard processes, which is the basis for maturity level 3, is established and improved over time.

CRISIL is India’s first and largest rating agency having begun in ratings for large companies as early as 1987. CRISIL is a global analytical company providing ratings, research, risks and policy advisory services. They are pioneers in the concept of credit rating in India, and have rated over 50,000 entities, by far the largest number in India. The Indian Software industry displayed very high growth rates over the past decade. Rating and certification defined by organization like CRISIL help in mapping stability and growth potential of SME’s in India. Entities with high ratings usually have a strong organisational structure, high performance capability and good financial strength.

For News Release background on Octaware Technologies Private Limited click here
Media Contact Details
Sujatha Soundararajan, Octaware Technologies Private Limited, +91-9819572728, sujatha@octaware.com
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