Zoho Corporation, an online software solution provider, is keen on expanding its footprint in India by offering cloud-based products to small and medium businesses (SMBs).
The U.S-based company, which has a development centre in Chennai, sees a potential market of around 50 million SMBs, with 10 million currently being technology-ready.
With global revenues of $150 million a year and about 1600 employees, Zoho is planning to increase the number of marketing partners here, investing in infrastructure and improving its research and development facilities.
“The idea is to let SMBs leapfrog and go straight to the cloud with our products and to this end we invested close to $15 million last year and are currently expanding the investment rate at 20 per cent,” Sridhar Vembu, founder and CEO, Zoho Corp, told press persons here on Wednesday.
Since the SMBs in India are slowly becoming more technology- capable, Mr. Vembu said that this new wave of tech-savvy businesses would allow a product company such as Zoho grow at a much higher rate than the services industry.
“With broadband penetration and the number of people who access the cloud through mobiles increasing, we are aiming at a three-fold rise in our revenue contribution from India,” he said, without divulging details about the present turnover.
With over half a million registered users in India, Zoho provides a suite of online offerings for small businesses that let them integrate work done by different employees, host websites or monitor customer data, thus helping them lower costs.