New York, New Delhi - The National Association of Software and Service Companies - Nasscom in partnership with Microsoft have released their third annual issue of the Top 100 Innovative Companies.

The innovation imperative has been recognized in India and is now becoming a movement across the country. Riding high on a booming economy with impressive rates of GDP growth, cross-industry development and rapid globalization, the country is focusing on the next big opportunities that will provide impetus for its future progress. Innovation is seen as the key element in this. In releasing this list, Nasscom endeavors to spotlight the growing trend towards innovation.

The nation wide search begins with analysis of companies renowned for coming up with new ideas, products, business models, processes or technologies to achieve higher margins and profits. Those that have managed to stand out and differentiate themselves in highly competitive, often adverse market conditions and carved a niche for themselves using breakthrough technological products and novel market initiatives are short listed.

World Fashion Exchange, the leading provider of web-based product lifecycle management solutions for the fashion and apparel industry, was selected out of thousands of companies and featured with technology leaders such as IBM, Cognizant, Wipro, Infotech and Microsoft.

WFX's innovation helps fashion and apparel companies cut costs through error elimination and reduction of lead times from product design to delivery; by providing a collaborative environment where users can share real time product information with internal and external parties.

Currently supporting 300 clients across three continents, WFX is successfully fulfilling a niche market where few domain specialists exist. With their latest released "On-Demand Delivery Model", WFX is a pioneer in technological innovation and will surely be included at the top of the Nasscom list in future years.