Detailed Report on Zoho’s Growth in India
Introduction:
Zoho, a leading SaaS giant, has recently launched “Cliq Rooms,” a smart conference rooms solution. This announcement was made during Zoholics India, Zoho’s annual user conference held in Bengaluru. Alongside this, the company also introduced new updates to its communication platform, Zoho Cliq.
Key Highlights:
- Zoho’s Growth in India: Zoho reported a 37% growth in India for the year 2022. This significant growth is attributed to its diverse range of products and suites. The primary products driving this growth include Zoho One, Zoho CX suite (CRM and CRM Plus), Zoho People, Zoho Books, and Zoho Workplace. The sectors that have majorly adopted Zoho in India encompass IT Hardware, BFSI, manufacturing, education, and retail.
- Expansion of Partner Network: The company has expanded its partner network in India by 30% year-on-year. To support its growing presence in the country, Zoho has opened sales offices in major cities like Delhi, Mumbai, Bengaluru, Kolkata, and Hyderabad. Additionally, there has been an expansion in its SI partner network.
- CEO’s Statement: Sridhar Vembu, the CEO and Co-founder of Zoho Corp, expressed his optimism about the company’s growth in India. He mentioned, “I’m very bullish about our growth in India, despite a global backdrop that has been challenging due to demographic shifts even before recent events.” He also emphasized the capabilities of Zoho Cliq, describing it as the world’s most refined collaborative platform.
- About Zoho Cliq: Zoho Cliq is designed to be a comprehensive platform, enabling employees to perform a majority of their tasks within the app. This includes tasks ranging from resolving customer issues to approving expenses. The platform has witnessed a 30% increase in user migration from competitors like Slack and MS Teams in 2022.
- Market Potential: A report by Statistica predicts the revenue of the Indian collaboration software market to reach $275.50 million by 2028. Zoho Cliq, which has been entirely developed in India, is a testament to Zoho’s R&D efforts in creating a unified technology stack. The platform also offers a customizable interface with support for multiple languages, enhancing accessibility.
- Future Uncertainties: Despite being optimistic about India’s potential, Vembu also expressed concerns about the current global scenario. He highlighted the uncertainties arising from the Middle East crisis, the Ukraine war, and other global events. He believes these uncertainties could pose challenges for the tech sector in the future.
Conclusion:
Zoho continues to make significant strides in the Indian market with its innovative solutions and products. The launch of Cliq Rooms and the updates to Zoho Cliq are steps in this direction. However, like many global businesses, Zoho remains watchful of the changing global landscape and its potential impact on the tech industry.
Source: Entrepreneur
