It is represented by Damodar Rao Gummadapu (CEO) and Seetharam Voleti (Vice President- Treasury and M&A)
Damodar is the CEO and Founder of Techwave- the company which started in the year 2004. The success of Techwave is a story to reckon with and it starts with the story of the man behind the empire who has his roots in a small village in Khammam. Hailing from a typical middle-class farming family, Damodar lived with different relatives at different points of time and did his schooling from various schools in Suryapet, Tirupathi, Devarakonda and Hyderabad. His uncle who was an expert in commerce was an inspiration and the reason why Damodar pursued the subject later in his career. Although, he got a decent 4000th rank in EAMCET in 1987, he did not join as he was offered Civil Engineering, which was not a popular subject at that time. Damodar demonstrated leadership skills even while in school and led several student unions. He was the class topper and had great social skills. He was never intimidated by any authority and spoke confidently in public and amongst elite circles. He never let his Telugu-speaking background deter him from being eloquent in English. He soon won the hearts of his friends, classmates, teachers and relatives.
Damodar’s passion for commerce led him to complete his ICWA and CA and work with some of the biggest companies in Hyderabad. Thus, Damodar has garnered more than twenty years of global experience across various Fortune 500 companies including KPMG, Bearing Point, Deloitte, Johnson & Johnson and Pfizer.
Techwave was a result of a well-calculated potential in the IT industry, which was well assessed by Damodar. Techwave is not a typical rags to riches kind of growth, since Damodar had the ability to foresee risks and gauge the market pretty much accurately. Company was christened by his wife Vanaja, whom he married in 1998. She extended her support in Administration and HR in the company. Damodar had invested everything he had in the company and started out in an apartment in Pennsylvania as a family-led company. Today Techwave is a private limited company and is run entirely by professionals. Damodar provides strategic leadership to Techwave’s corporate interests and supports all teams with hands on business and IT management experience. He is a Chartered Accountant and Management Accountant and his vision led to growth of key technology solutions in Business Process Management, ERP, BI, EPM and BPO practices. Despite the initial struggle to crack the first project, Techwave had a fairly smooth growth. In fact during the global recession in 2008, Techwave actually grew 100% which shows the dedication and commitment to work that Damodar had. He recalls, “We never lost a client and our attrition is pretty low. In our industry the time to recover money invested is very long, yet we ensured that the salaries are paid and work is progressing. Sure enough the results were great!” He follows the three principle of success as propounded by Jack Welch and that is to satisfy customers, engage employees and also maintain the cash flow. The company, which started in an apartment with just 3 people, is today a global company with 700 employees and 10 service offerings. As to offering advice to upcoming entrepreneurs, Damodar said, “Never bite more than you can chew and try only things which you can chew and define your scope properly and deliver it! Focus on customers and commit to them on delivery and set the expectations properly. Techwave has always been employee centric and it is zero debt company, which makes it solid and reliable.”
28+ years of experience in Banking Industry. He heads the Treasury and M & A activities in Techwave Consulting Inc. He has worked extensively in Foreign Exchange Treasury Front Office of a large Public Sector Bank in India and at London Treasury Front Office. Head of Back Office and Mid Office, lead the team in implementation of Integrated Treasury Management Solution.
MERGERS & ACQUISITIONS: Successfully completed acquisitions worth USD 10 Mio; Successfully bid for cross-border acquisitions – in UK,US, Hungary, Singapore and a listed Company in India; Having acquisitions worth USD 12 Mio
FOREIGN EXCHANGE & TREASURY: Treasury Front Office Dealer & Trader; Trading in Currencies and Corporate Bonds; Chief Manager of Treasury Back Office; Implementation of Treasury Solution – automation of Front Office and Back Office
CORPORATE COST ACCOUNTANT: Cost-benefit analysis of various Schemes of the Bank; Cost optimization of Services through Data Analytics
Foreign Exchange Currency Trading;Evaluation of Alternative Sources and raising of funds – medium and long term Notes; Technical Evaluation of Software Vendors for new Treasury Solution; With strong Domain knowledge in Treasury, associated with the Vendors for smooth customization of new Treasury Solution
28+ Years’ Experience
– Corporate Banking – Cost Benefit Analysis of various Schemes of the Bank
– Treasury – Foreign Exchange 15 years including 4 years at London Treasury
– Issue of Medium Term Notes in USD and managing funds
– Trading in Corporate Bond
– With Strong domain knowledge in Foreign Exchange actively involved in Vendor selection and implementation of New Treasury Software Solution
– Post Graduate in Commerce
– CAIIB (Indian Institute of Banking)
– Cost & Management Accountant (CMA from Institute of Cost & Works Accountants of India)
– ACS (Institute of Company Secretaries of India)