Coral Soff'wares has announced launch of a sub Rs 10-lakh ERP software targeted at the Small and Medium Enterprises (SME).

"This is the first ERP product for the SME sector with total cost of implementation less than Rs 10 lakh," said Coral managing director P C Kankaria.

The company claimed that the ERP (Enterprise Resource Planning) software was almost code free which provided flexibility to configurability, scalability and any verticals could be developed.

Kankaria said, "SME is the fastest growing segment in IT spending with overall size of 3.16 million or 80% of their enterprise software outlay in ERP in 2006.”

Meanwhile, the company said it was planning to raise Rs 25 crore in venture capital to invest in developing business.

PTI