We will always look for integration and interoperability when it comes to AI offerings: Praval Singh, Zoho

Zoho Corporation, an Indian multinational technology company founded by Sridhar Vembu, has announced that after establishing its presence in the SMB segment, the company has achieved a compound annual growth rate (CAGR) of over 65% in ARR within the mid-market and enterprise segments over the past three years. During an event held in New Delhi, the company revealed that it now serves over 90 million users across more than 600,000 businesses.

Praval Singh, Vice President of Marketing and Customer Experience at Zoho, attributed the growth in the UpMarket segment to the company's commitment to "Make in India." He stated, "We have over 55 apps across every business category, and we gain the trust of organizations with one offering at a time. We never say we will replace their entire technology stack. We begin with one offering and then expand as we gain trust from the enterprises."

Zoho's expansion in the Indian market has seen significant growth in sectors such as banking, financial services and insurance (BFSI), manufacturing, retail, fast-moving consumer goods (FMCG), pharmaceuticals, and IT. Some of the company's customers include MakeMyTrip, PUMA, Axis Finance, Paper Boat, Samsonite, BigBasket, Tata Play Fiber, BYJU'S, Star Health & Allied Insurance, Mercedes-Benz India, SpiceJet, IIFL Finance, Meril Life Sciences, Blue Star, Bosch, Zomato, Saint-Gobain, Deloitte, and McDonald's, among others.

In addition to these clients, the company actively collaborates with state and central government departments, as well as public sector undertakings (PSUs), to support their digitalization initiatives. To strengthen its account management capabilities and cater to the specific requirements of large organizations, Zoho has expanded its workforce with customer-facing teams and established offices in key cities including Delhi, Mumbai, Kolkata, Bengaluru, and Hyderabad.

Singh emphasized that Zoho's ability to integrate and interoperate with the existing technology stacks of larger enterprises is one of their unique selling points, contributing to their popularity in the segment. He mentioned that Zoho also offers shorter implementation times and affordability compared to several competitors.

Will Zoho Launch its Own Generative AI Offering?

Regarding the launch of Zoho's own proprietary generative AI offering, while the company has announced a tie-up with OpenAI for ChatGPT integration, it may take some time before their own Generative AI offering is launched. Singh stated that while Zoho has been working in the AI domain for the past ten years, with Vembu overseeing the development, they remain open to integrating and interoperating with other existing players. He commented, "It is never going to be an either/or as far as our offerings are concerned."